I know over the years there have been many exposes on Tether for not being full reserve and their various lies and shenanigans. Those claims have always seemed to be pretty damning to me, but the history of the world is full of pirates becoming admirals, and this seems increasingly like a realistic outcome.

Is there any systematic writeup or podcast or anything who talks about Tether's place in the larger ecosystem? It seems like they've got a lot of irons in the fire but I've lost track of what they all are.

I'm also increasingly curious if Tether will turn out to be the US govt's best frenemy -- all the 3rd world countries with imploding currencies getting hungry for USDT keeps the petrodollar music playing a while longer...