Unfortunately, Tether now operates as one of the single greatest businesses of all time and is probably (from now) operating completely legitimately. No one is happy to hear this except for Tether themselves.
While in theory they could be earning billions in interest just sitting on all that cash, there’s very little reason to believe the billions they claim to have exist. Do they seriously expect people to believe that they have more assets under management than at peak crypto in 2021, with billions more pouring in regularly?