That's not really an explanation as Tether does not make cooking the books any easier. You could just as easily lie about how much USD or BTC you have. It would

That's not really an explanation as Tether does not make cooking the books any easier. You could just as easily lie about how much USD or BTC you have. It would also be a whole lot less visible, having huge unexplained stablecoin holdings is a giant red flag visible to everyone. It does not make sense. That said, the Tether situation is clearly fraudulent in some way, just not the one people usually put forward. So stay away, if you aren't already.