Bitcoin is not in any way "backed by tether" Tether is just one stablecoin of many that are only used because they're more convenient for moving fiat around between exchanges than the legacy banking system. Stablecoin printing goes up whenever people deposit money to exchanges. It's a symptom of the bull market, not a cause.
around 75 %of crypto volume, including BTC, is done in tethers. The claim was that USDT is backed 1:1 for dollar. Recently almost 1 billion tethers were printed on daily basis. So yeah, tethers are the only thing that keeps BTC at current levels and helped it to get here.
Way less fraudulent than banks putting 97% of their assets mortgages during a housing bubble. A diversified portfolio of commercial paper is way less risky than even the highest rated mortgage, because it has less risk from changes in interest rates and general price levels.
When you are trading air for actual US dollars, you need your head examined. It is all greed. Everyone wants to be a millionaire overnight. Remember the who is the bigger fool theory? If you have to ask who is the fool---it is thee!
I know they are preparing something big for this year, according to their new directors notes, will see, maybe too late