Tether is a token used to trade cryptocurrency with. The CEO of Tether is also the CEO of BitFinex, the largest crypto exchange in the world. Tethers are supposed to be backed by USD.
You just answered your own replied in there, tethers are supposed to be backed by fiat, "supposed" and it is obvious that they are not backed up with anything.
They are just increasing the supply as much as the want.
And we all knew that the max supply was just 930 million dollars, but the actual marketcap is over 980millions, and it is still increasing hour by hour.
This is very fishy