All that FUD for a nothing settlement, at least open to books on them, I was kind of hoping the rip open USDT so I could pick up some cheap BTC if they used USDT as an example. If tether wants to do fractional reserve shit let them, and let market participants decide if they want to use something that's not fully backed. It's not like it makes a difference to the US dollar, printing more on more based on a smaller and smaller percentage of fake assets (future tax revenue) isn't really a moral high ground to judge something on.
From a crypto standpoint, I don't use USDT myself, so can't be bothered