Retraction and Update: Tether has recovered to the $1 US level. I did some more studying of this issue including listening to a podcast with Richard Heart. I think Richard has an excellent point that an auditor would not be able to complete an adequate audit. In addition, he correctly states that we have no other choice for parking money on the sidelines when cryptos are going down. Trying to do this in coinbase is very expensive. Therefore, I retract my statement about Tether for now. I still caution and suggest to watch the price level of USDT/USD.