Problems that I see with this situation are still that Tether Co is owned and operated by Bitfinex. That definitely seems like a conflict of interest.

This is especially made clear when you realize that they keep saying they have all this money, but there's never been an audit. I believe they firm they said they were hiring has said they were never even approached to do an audit.

The way they get money into Tether (since the last time I checked, they have no banking) is to create demand for USDT through purchases by Bitfinex and then move the money on paper over to Tether. It never changes accounts.

Also, they say in their own terms and conditions that they're not obligated to give you $1 for 1 USDT. It's a promise that they'll give you $1, but they state they don't have to honor that promise.

I have stayed as far from Tether as I can. I don't want to be the one holding them when it all falls apart.

Note: Not financial advice. Do your own research.