Simply by surviving, Tether had won, at least for now. The amount of Tether outstanding, which had fallen amid the credit crisis, climbed to an all-time high of 83 billion by June. When I contacted the company one last time and sent over a detailed memo about my findings, a spokesperson declined to respond, saying only that it contained “a large number of errors and misinformation.” All I could do was laugh. I recalled a line Devasini had written in his blog: “Either I am a genius or everyone else, indiscriminately, is insulting your intelligence.” One way or the other, he was right. —
