Too Long; Didn't Read
There is no statistical evidence that Tether minting is correlated to Bitcoin price moves beyond a typical supply-demand relationship. No suspicious pattern in the way Tether is liquidated beyond the lack of US- and EU-based trading venues. Up to $30M worth of USDT a day is traded on Moscow’s OTC trading desk by Chinese importers in Russia. Tether (which maintains parity with the US dollar) is bought in large batches to be sent back to China where there are strict capital controls. Multiple online gambling websites in China used Tether for its large cross-border transfers and laundering money.