Ultimately it's a false dichotomy. Tether can be a scam and have enough assets to back each USDT with a dollar. They've had a massive interest free loan for h

Ultimately it's a false dichotomy. Tether can be a scam and have enough assets to back each USDT with a dollar. They've had a massive interest free loan for half a decade in a (until recently) huge bull market. You'd have to try really hard for there to be a significant shortfall.