The pinned top post on reddit.com/r/tether is titled "Tether has always been fully backed and the assurance opinion made available today confirms it once again, and puts Tether ahead of the industry on transparency."
"Tether is fully backed but we won't show you what the backing actually is and we won't allow audits just attestations from some rando Cayman island" didn't quite fit in the title, I suppose.