[DebtDeflation]

>The pitch is clearly a lie, but I'm also not too worried about them counting commercial paper and t-bills as "cash."

The pitch being a lie is EXACTLY the problem. Tether is supposed to be nothing more than the gateway between crypto and the rest of the financial system. There is no reason for them to hold anything other than deposits at insured institutions. There is no reason for them to be making loans. There is no reason for them to be paying above market interest rates to holders,

[raducu]

Anything that can prop crypto prices is a valid reason and anything that threatens the price is a damn lie.