...there is still zero evidence that tether actually has any real money at all.
...
A few weeks ago, I shared your doubts regarding the backing of the outstanding USDT.
However, you are aware that they have recently started releasing their audits?
You can find the few already finished audits at:
https://tether.to/tether-update/Besides, I find it unlikely that exchanges like Poloniex and Bittrex that are making an absolute fortune
in 2017 due to the altcoin mania would be involved in Tether, if Tether would be indeed an unbacked
ponzi scheme. BTC/USDT trading volume on both of these exchanges surpasses 50 million $ most
of the days, which produces crazy income in trading fees!