This is mostly just "the concensus opinion" on HN, which is very skeptical of crypto in general. I used to work in the cryptocurrency industry and my impressio

This is mostly just "the concensus opinion" on HN, which is very skeptical of crypto in general. I used to work in the cryptocurrency industry and my impression was that the concensus of the people actually working on crypto or handling large amounts of money was that there is no particular reason to believe that tether is insolvent. Tether's honesty and integrity aren't held in very high esteem and it might well have been the case at one point that they were printing unbacked tethers, but that doesn't mean tether is not properly backed now - if they used that tether to buy lots of bitcoin, and bitcoin went up, then they would have made out like a bandit. Personally I wouldn't be surprised either way, but I lean towards thinking that tether is not in any immediate danger of collapsing.