I read this article yesterday. Trying to portray Tether as some adventurous and daring fellows that just lied here and there is, to say the least, very biased.
Anyway — we do know that Tether hasn’t always been upfront about the reserves backing its coin and that at some point they loaned a bunch of money to an affiliate, which wasn’t kosher. But we also know their token has almost never deviated from a buck.
This doesn't make any sense, the people behind Tether and Bitfinex are crooks, and now they have made the largest hit of their lives. They have become exactly what the reputable big banks are now: too big to fail. This won't end happily, that's for sure, and it will drag BTC down again, something like FTX.