tether is not tied to the dollar anymore. they quietly transitioned away from thatTether seems fundamentally so wrong and like @tankasnowgod said it is tied to the dollar. That makes no sense.
Tether's U.S. Dollar Peg Is No Longer Credible
Tether, the issuer of the foremost "stablecoin" in the cryptocurrency world, admits it doesn't have enough actual dollars in reserve to meet all claims.
www.forbes.com