If you believe them you must believe that they've received $250 million dollars in the month of November alone.
https://coinmarketcap.com/currencies/tether/
This on a daily pattern that looks like a step function. Where could this money possibly be coming from? Anonymous millionaires?
Hedge funds, family offices, etc.. $250M isn't all that much. Arrington is trying to raise a $100M crypto fund, Novogratz is raising a $500M one.
Their market cap has gone up $68 million in the last 12 hours. If it's truly pegged doesn't that mean they've taken in $68M in that span of time?
And he also said the following:
Yes, though that was prior to his clarification. They haven't removed any of the many claims on the website assuring a 1-1 backing, they did an audit, and the issuance makes sense given the situation. Doesn't seem all that likely to be a scam to me. Of course, I could be wrong.
"I agree that if no one was able to get fiat in or out of Tether and USDT were still being issued that would be a huge problem. As it stands, however, institutional customers are able to deposit USD to Tether, and this is how USDT is being issued."
https://www.reddit.com/r/BitcoinMarkets/comments/7fsfwl/dail...