good clarifying point, the 2nd one never had a peg?
argument: https://www.youtube.com/watch?v=dAQP3cPUNtA
The allegation is that it's not fully backed.
Which means if there's a run on the currency, those backing assets might not actually be able to be liquidated at a price that can back the withdrawals. Aka, the peg is only good if there's no run on the currency - allegedly anyway. I personally wouldn't trust it.
For all the talk of fiat and money printers it's crazy how central USDT is to the crypto markets. I suppose people are willing to overlook a lot to avoid tax exposures...
[0] https://tether.to/en/legal/#:~:text=Tether%20reserves%20the,....
I don't see how that's the case? Doing any sort of trade is a taxable event. The tax is due in the year that the trade was made, not when it hits your bank account.