In part one of a two part episode, Bennett Tomlin discusses the legal issues, liquidity problems and spotty history surrounding Tether.
Tether is the largest stable coin in the cryptocurrency space, with more than 60 billion USD equivalent in circulation. It acts as the the shadow bank for a majority of exchanges worldwide, exchanges like Binance and Bitfinex. In 2014 Tether made a promise that each unit of Tether would be 1-to-1 backed by a real dollar. Since then, a lot has changed.
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Special thanks to the r/buttcoin community for encouraging skeptical inquiry.
And special thanks to @Bitfinexed