[hidenotslide]

I don't know the details. Multiple places seem to imply there is at least some planned mechanism, that's all I was referring to. E.g. from the white paper: "Tethers may be redeemable/exchangeable for the underlying fiat currency pursuant to Tether Limited’s terms of service".

I don't have a position here and no axe to grind, but parting from your auditors is in many cases a significant red flag.

[mcintyre1994]

They have Web pages for buying tethers/selling them, but they're always closed and just say contact them if you're a $x million investor. So the claim is presumably that the billions of tethers printed are all backed by institutional investors. I just had a look at the site now and the registration system is apparently being rebuilt, so there's no path to buy/sell through them today.