Bloomberg questions the integrity of Tether’s reserves, comparing it to a fraudulent bank. Allegations link Tether to criminal activities, while its trading volumes surged following Trump’s 2016 election, further alarming observers about possible financial fallout.
Trump’s administration is tied to Tether through Cantor Fitzgerald, raising concerns of potential financial instability. Howard Lutnick, from Cantor, has intertwined policies with Tether, amplifying the perceived threats and possibly exacerbating economic risks.
Bloomberg and critics express unease regarding the proposed U.S. Bitcoin reserves, warning of inflation and economic instability. The initiative is said to heighten risks, as Trump’s favorable stance on crypto could lead to deeper financial dependencies.