The Economist this week has a really eye-opening article about the state of Tether. "With estimated leverage of 383-to-1, Tether would be unable to honour all its tokens after losses of just 0.26%". The moment we have a major adjustment in the bond market this not-actually-stable coin seems likely to explode.

https://www.economist.com/leaders/2021/08/07/why-regulators-...