You really believe they added $200million to their USD reserves to cover the USDT?

Edit: Where would they get that USD?

With a dump truck full of unmarked dollars in small denominations in some dark Bangkok alley, provided by generous institutional investor. Obviously.

They say it's their "institutional investors", they never release who these are (some people say it's Bitfinex themselves), they never release what bank they use or which country is the money deposited in.

It's rotten to the core... The consensus is that they either don't have that money at all (most likely scenario) or that if they do it's all dirty money and they are operating a money laundry scheme....

Unless they would prove to the public and/or competent regulatory authorities that they definitely have done that, they should be considered as "printing" this money.

Proven reserves count, claimed reserves don't. If USDT is "covered" by reserves that are claimed but not verified, then USDT is not covered.

Tether did a fake "audit" to show they were legitimate: https://medium.com/@bitfinexed/the-so-called-tether-audit-th...