They have a deadline in about a month to reveal what exactly their "reserves" are comprised of, could be the moment.

Did anything changed about tether having to reveal anything about their reserves?

This has been going on for years, and it seemed that nobody was able to force them to prove anything.

It's part of their recent NY settlement:

https://www.bloomberg.com/news/articles/2021-02-23/crypto-ex...

>New York officials, who originally began investigating Bitfinex in 2019, will receive quarterly reports on composition of Tether’s reserves for the next two years. The companies will end all trading activity with New Yorkers.

That starts in about a month

Didnt they already had dates set for publishing Audit results in January? and then without revealing anything they obtain a settlement? Show you the scale of money and what it can do. At $Trillions being printed per month they can buy anything.

Thanks!

There's nothing in the article that suggests that tether will be closed if they are not backed up 100%, so I guess it won't make any real change even if they are not.

If/when Tether collapses people will escape it en masse into bitcoin and ethereum.

Paradoxically, it can lead to the prices in crypto shooting up, not down.

Have puts on all of the miners and Microstrategy.

Months out, enough time for Bitfinex to get curbstomped by the DOJ, CFTC, or NYAG.

Also enough time for them to expire worthless.

Which expiration date and what price? When I checked last time they seemed pretty expensive.