Peter Schiff, a very outspoken crypto bear, answered on Twitter about Tether:
Hey peter you bring up some great points on bitcoin, but have you looked into tether? that is the real snake in the grass ..
Yes, it could be a ticking time bomb if the dollars are not there to back them up. $60 billion market cap, and $80 billion traded over the last 24 hours. It’s also the 3rd biggest crypto by market cap.