It is very likely that Tether is a scam -- the evidence has been mounting for years -- but the peg won't break until the market believes it. Unfortunately, ther

It is very likely that Tether is a scam -- the evidence has been mounting for years -- but the peg won't break until the market believes it. Unfortunately, there isn't a good way to short Tether. You can short the Kraken USDT/USD pair on margin, but the margin rates are ~20% a year. You can borrow tethers on compound.finance, but the rates are ~15% a year. I think part of the reason we haven't seen the unwind of tether is simply because it's too expensive to short. Also, no one will loan you their tether if you tell them you're going to break the peg and give them back a worthless token. (I actually had a kraken short on for a while in ~2018 but gave up because it's just too expensive.)