This a game of telephone where you seem to be giving a 5th hand version of the initial news. There was a lot of speculation that because tether is holding a lo

This a game of telephone where you seem to be giving a 5th hand version of the initial news. There was a lot of speculation that because tether is holding a lot of commercial paper they would have some exposure to Evergrande. No one ever proved that amount. Tether claims the exposure is 0. There is no particular reason that tether would have a large portion of it's portfolio in the paper of a single company. So when you say "a large amount of Tether's backing assets" that statement is not only baseless but is just unlikely to be true.