The author's Internet point is that they think Tether is bust and why big money is not shorting it (you can't find a counterparty to make a big trade with that is any less dodgy than Tether itself). They then describe a mechanism for making the trade in which the counterparty is a DeFi protocol that is, of course, just as dodgy as Tether itself.
The whole ecosystem currently remains a giant confidence game, as Matt Levine described well in a recent article. This doesn't mean there isn't a lot of money to be made - casinos make a lot of money at an activity with no direct economic value - but right now you are best served only putting in money you can easily lose.
The whole ecosystem currently remains a giant confidence game, as Matt Levine described well in a recent article. This doesn't mean there isn't a lot of money to be made - casinos make a lot of money at an activity with no direct economic value - but right now you are best served only putting in money you can easily lose.