Tether themselves issued a shady statement saying something like they where backed 70% by dollar holdings, or crypto equivalent. Essentially meaning that as lon

Tether themselves issued a shady statement saying something like they where backed 70% by dollar holdings, or crypto equivalent. Essentially meaning that as long as they don’t pocket 100% of the money you pay them. And as long as they mint twice the amount of tether using one to back the other, well they they are technically not lying. But reallity is that if enough people tried to withdraw dollars for tether the coin would collapse and the masterminds would suddenly “die of some obscure disease in India” with all their wealth disappearing with them.