> The consensus opinion, at least 6 months ago, was that Tether = scam. I think you're combining two different questions with the word "scam". (A) Is Tether s

> The consensus opinion, at least 6 months ago, was that Tether = scam. I think you're combining two different questions with the word "scam". (A) Is Tether stable and able to keep its peg? (B) Is Tether lying about its reserves (composition, quantity, or both)? The answer to (A) is "not all the time" and perhaps that will turn into "not most of the time" (as we have seen with other stablecoins recently). Tether has actually lost its peg in the past by a substantial margin[1] before recovering. The answer to (B) is still almost certainly "yes". They have resisted legitimate audits and have even said that full transparency would destroy their company[2]. We know they don't hold $1 for every 1 USDT, and some of their other reserve assets are more dubious than others. The company has survived a "slow-motion bank run" recently[3], but it's unclear how much bigger or faster of a bank run it could withstand. Experts and investors are still betting that Tether will collapse in the near future[4]. 1. https://www.coindesk.com/markets/2022/05/12/tether-loses-1-peg-bitcoin-drops-to-2020-levels-of-near-24k/ https://www.coindesk.com/markets/2022/05/12/tether-loses-1-p... 2. https://coingeek.com/tether-claims-revealing-assets-could-destroy-its-business-model/ https://coingeek.com/tether-claims-revealing-assets-could-de... 3. https://www.theguardian.com/technology/2022/may/22/tether-pays-out-10bn-in-withdrawal-since-crypto-crash https://www.theguardian.com/technology/2022/may/22/tether-pa... 4. https://www.politico.eu/article/crypto-currency-tether-finances-spark-broader-battle-over-cryptos-credibility/ https://www.politico.eu/article/crypto-currency-tether-finan...