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RE: Why Tether’s latest statement about its auditor is complete BS
Thinking about this, the value of tether is clearly too high still to allow this. But it could be of course that they use the existing resources to keep the price high and give people a feeling of "everything ok".
alternatively, they could simply not redeem Tether for USD (which they don't), and then you'd have to hope that any exchanged with USD x USDT trading pairs has enough demand/liquidity to keep the peg.
and of the $2B they're supposed to have, the depth on the kraken order book is barely $6M... and that would drop the price of USDT to $0.30
I have not understood from the beginning why peopled anyway trust them a bit. This is all about trust - if you trust that the money is there - it should be worth 1 USD - but only if you can redeem your USD at least at some point in the future.