Impact of Tether trading on the Bitcoin price

It was Sunday night and I just found out about the article “The Big Short: Inside Crypto’s Doomsday Machine” on Reddit. The article is basically claiming that Tether — which is supposed to be fully backed by US dollars, is backed by nothing.

For those that have never heard about Tether, here’s a short summary:
Tether is a “stablecoin” because it was originally designed to always be…