If the crash is bad enough: Tether itself. Or Bitfinex, its parent. If they buy up their own debt at $0.01 on the dollar then they got away with their fractio

If the crash is bad enough: Tether itself. Or Bitfinex, its parent. If they buy up their own debt at $0.01 on the dollar then they got away with their fractional reserving scheme, and their executives walk free. Free and very wealthy. There is always a clearing price. The question is simply "how low"?