I don't like Tether myself, but it's definitely not counterfeiting. To counterfeit something, you need to pass it off as the real thing. Tether is not the real

I don't like Tether myself, but it's definitely not counterfeiting. To counterfeit something, you need to pass it off as the real thing. Tether is not the real USD, it's just a currency made to be worth around the same amount as a dollar, and the value often hovers around $1, but it's not always $1. Another real world example is the Hong Kong Dollar. Just because it's pegged to the USD, does not mean it's counterfeit.