Nope. It's "backed by other assets", not backed 1:1 but "is always valued by Tether at 1 USD" and "Tether makes no representations or warranties about whether

Nope. It's "backed by other assets", not backed 1:1 but "is always valued by Tether at 1 USD" and "Tether makes no representations or warranties about whether Tether Tokens that may be traded on the Site may be traded on the Site at any point in the future, if at all." all on their website.