Tether
founded 2014
The offshore company that prints the world's largest private dollar — and spends the interest buying the food supply, media, and Washington access.
Tether issues USDT, the largest stablecoin (~$189B), backing it mostly with US Treasuries so it earns billions a year in interest it keeps. US regulators fined it in 2021 for misrepresenting whether the coins were fully backed; it produced only 'attestations' for years before a first KPMG audit in 2026. With the profits it has taken control of South American farmland and the region's biggest fertilizer maker, and stakes in media, satellites, and gold. Its co-founder did years of documented business with Jeffrey Epstein, and the Commerce Secretary's firm holds a claim on 5% of the company.
What the record shows
Every entry is graded and links to the investigation that documents it. This page introduces no new claims — it collects what is already on the record.
It prints the largest private dollar — and keeps the interest on the public's cash.
FACTUSDT had roughly $189B in circulation in 2026, backed mostly (~80%) by US Treasuries — about $115B in T-bills — so Tether earns billions a year in interest that flows to it, not to token holders.
US regulators fined it for misrepresenting whether the coins were backed; a full audit came only in 2026.
FACTThe CFTC fined Tether $41M and the New York AG settled for $18.5M in 2021 over its reserve claims; Tether published only BDO attestations for years before obtaining its first Big Four (KPMG) audit in 2026.
It used the profits to take control of farmland and the region's biggest fertilizer maker.
FACTPer SEC filings, Tether took ~70% control of the farmland/food company Adecoagro (tender offer closed Apr 2025), which then bought Profertil — South America's largest granular-urea producer — for ~$1.1B (90% control).
The Commerce Secretary's firm holds a claim on 5% of Tether — and Tether lent to a trust for his children.
FACTCantor Fitzgerald holds a convertible bond (up to ~$600M) with a right to ~5% of Tether and banks its reserves; a filing showed Tether lending to a trust for Lutnick's children one day after he divested. Warren and Wyden opened a fourth probe.
Its co-founder did years of documented business with Jeffrey Epstein.
FACTTether co-founder Brock Pierce appears ~1,801 times in the released Epstein files, facilitated Epstein's 2014 Coinbase investment, and a 2018 email shows a $15M Coinbase-equity wire between them.
Every investigation that touches Tether
Resolved live from the investigations index — this list grows as new coverage lands.
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