[rothbardrand]

There are lots of reasons to be concerned about Tethers, formost of which is that they are centralized.

But with the massive on boarding of new customers (coinbase releases customer stats regularly and are having record new accounts created) ... you would expect that the number of tethers in circulation would go up as some people decide to adopt the tether for whatever purpose and more need to be created.

Not quite sure whether they are all backed or not. (and I don't know how to tell at this point.)