Tether is a risk but the team has promised to keep improving how it operates and have an actual audit soon.
Soon
™ - I can guarantee you that they will never do this.
They will run this circus for as long as they can before the authorities raid them.
Some back story of one of the folks behind:
Giancarlo Devasini (Co‑founder & CFO) In 2021, Devasini paid an USD 18.5 million penalty to settle with the New York Attorney General over Bitfinex’s improper use of Tether reserves to cover losses following financial strain in 2018
He also had business dealings (as liquidator of Perpetual Action Group Asia) with Gennaro “Reno” Platone, convicted for large-scale VAT fraud tied to organized crime, though Devasini was not charged, his transactions and association were highlighted by investigative reporting.
I'm sure there's much more to him and everyone else involved in Tether, they just haven't been caught yet.
Tether is a criminal organization, if you can't see it - you're blind.
Some more interesting stories:
https://cryptonews.net/news/legal/24673712/