People are giving them money for free. They pay absolutely zero interest or dividend to "investors". For the crypto people, Tether's job is to accept money and

People are giving them money for free. They pay absolutely zero interest or dividend to "investors". For the crypto people, Tether's job is to accept money and do nothing with it. US debt is about as stable as the dollar itself, so to their crypto customers buying bonds is a no-op. Any yield is pure profit for Tether itself.