[grey-area]

They’ve exited the position in ‘commercial paper’ that couldn’t possibly have been true?

What proof verified by third parties is there that any of their assertions are true? There never has been one and there never will be.

Tether are an obvious fraud run by fraudsters, caught several times committing fraud and already banned in many jurisdictions. They deserve zero trust and when this ecosystem collapses they will go to 0.

[simple-thoughts]

Yes USDT has management flaws but these are caused by limitations placed on their access to banking services - they have a long history of making sure they can maintain peg in spite of constant attacks from regulatory authorities, short sellers, and negative media publicity.

No, I don’t recommend using USDT. But with the regulated coins being operated much more poorly than USDT, it may be the best option in certain situations.

[grey-area]

I would say the flaws are caused by deliberate fraud, and I don't trust their figures or those of crypto exchanges, given they have close relations with several large exchanges.

https://www.wsj.com/articles/crypto-companies-behind-tether-...