Ok so I listened to this pod from @mattysino and @CasPiancey heres my take as someone super close to the ground on this thing.

1. So some background I issued probably around ~1bn of tether during the 2017 run, I talked about it here pretty in depth https://www.stitcher.com/show/on-the-brink-with-castle-island The whole argument for the price angle, which wasnt the big fight on the pod, falls apart when you look at the BFNX <> CBSX spread

2. Sitting in that seat though I'm skeptical on the idea that the USDT funds aren't backed, additionally BFNX made a ton of money / continues too in that timeframe and could plug some fairly large holes if they arose

3. You have to remember that regarding the crypto capital corp theft BFNX / USDT is the victim which is baked into the LEO token construct

4. The auditor angle I think its really as simple as no one wants to get rolled into the existing legal issue and won't stick their neck out the argument @mattysino made

5. Regarding going to a new bank its the same issue as the audit and exposure issue that exists today. I genuinely think the active trading largely doesn't care about either of these though as long as the product functions as it's being sold which its drift back to peg has

6. Now whether or not USDT runs into trouble in the next 2 years and or gets shutdown entirely i think theres real delta, but i also think there is real delta on USDC / GUSD / PAX hitting the same fate all of these are running into regulatory issues front and center right now