Tether Bitcoin Manipulation

Think the concern is the folks behind tether have printed tethers to buy/prop up Bitcoin over the years. You can see the issuance of new tethers align closely with Bitcoin rallies or sell offs.

Perhaps Bitfinex is padding reported tether trades to make it look less risky?

Most bitcoins are bought with tethers and tethers are issued by Tether inc. Thether inc. claims that tethers are backed by real US dollars, however nobody knows whether this is true and Tether inc. has been shown to have lied about that in the past. In short, the widespread suspicion is that exchanges and other parties are using unbacked tethers to pump the price of bitcoin up.

Tether is supposed to be backed 1:1 by US dollars and function as a non-volatile way to move money across exchanges. It's market cap is ~$815M. Lots of people believe that Bitfinex, the creator of Tether, is not actually holding $815M to back it. Instead they believe Bitfinex is creating Tether out of thin air and could be using it to inflate the price of Bitcoin.

A lot seem to be selling bitcoin for Tether...

spoilers: tether is not backed by usd and bitfinex is insolvent.

market being propped up by tether

This is a interesting article that goes into tether.https://www.kalzumeus.com/2019/10/28/tether-and-bitfinex/

A lot of crypto trade (especially on shadier exchanges without KYC or the option to use fiat) is denominated in tether.Tether keeps printing billions of dollars with no oversight or regulation. They lied about it being backed by cash reserves, and now make a much softer claim that its backed by "some cash" and other assets (other assets include more crypto IIRC).Basically, it feels like tether is inflating the price of BTC, and the exchanges all have a vested interested in contin

How is Tether holding up BTC price? Can you elaborate?