Tether promised a guaranteed 1:1 exchange rate with USD. That guarantee no longer exists, even though the rate is still ~1:1 Tether has no way to enforce that.

Tether promised a guaranteed 1:1 exchange rate with USD. That guarantee no longer exists, even though the rate is still ~1:1 Tether has no way to enforce that. If it's value tanks there is nothing they can do.