This allegation has been going on for so long.
I really hopeful that USDT will do a proper audit after the US enforce the GENIUS act to make these stablecoins issuer much more transparent according to the law.
This is also why I prefer using USDC these days.
Tether has always been shady from the start. Things like constantly "printing" (issuing) new USDT, avoiding transparency, among others, are huge red flags you'd need to consider. If Tether fails, it will take the rest of the crypto market down with it. After all, it's the largest stablecoin by market cap. In my opinion, USDC is much more trustworthy.
Hopefully, with the GENIUS act signed into law by US President Donald Trump, Tether would increase its transparency in the long run. With regulators weighting in, investors will have nothing to worry about. At least, we have plenty of options to choose from. The competition is getting fierce, so maybe another stablecoin will take USDT's place in the future? One can only imagine...