[jpmattia]

> We don't have any evidence Tether has hard currency backing its Tether.

We have some evidence: The CFTC subpoena was about a year ago, and it is hard to imagine that they would not have

1. Subpoenaed bank statements to support the backing, and

2. Let tether continue operation if the support was lacking.

So it's possible that the CFTC was snookered somehow, but they're not known for being patsies when it comes to obvious fraud.

The investigations for manipulation are more complicated, and it is easy to imagine that it takes a year to iron that out, but a simple balance check? Hard to imagine that's not already complete.

[6nf]

Tether is Hong Kong based and as far as I can tell they don't have any people or infrastructure in the USA so it's going to take much longer for the CFTC to actually do anything here.

[JumpCrisscross]

> CFTC subpoena was about a year ago, and it is hard to imagine that they would not have

These investigations take years, particularly when you have a non-bank regulator like the CFTC trying to get information from foreign banks.