I can't believe the cognitive dissonance going on around here. Bitcoin/cryto used to be about not trusting 3rd parties by cutting out the middle man.
"don't trust, verify" turned into "haven't verified, but I trust them" LOLOLOLOL!
Tether proven itself to be trusted over the years. Their balance sheet is nearly $70b and that's bigger than the most US banks. If there was anything shady, the US would shut them down.
Ask yourself why you trust Tether so much? I think the simple answer is greed, people "in the know" realize there is something shady going on, but everyone wants to get rich. The party is not going to end well...this will make mt. gox seem like child's play because back then your average joe wasn't invested in crypto.
Tether is too big to fail now. If there are any misdoings, the central bank of Bitfinex will fix the situation by printing more tethers. It is that easy.
Remember the part in the move "The Big Short" when the stripper says she has 4 or 5 condos? Well that's the crypto community at the moment...having too much fun chasing dollars and not stopping to ask if this is sustainable or healthy.
BTW, the lights will turn off all at once, so don't think you will have time to get out.
That's all hater/bear talk. Enjoy staying poor.