Summary

There are so many red flags around Tether, I don't know where to start.

Bitcoin priced in Tether spiked to a premium of $1,000 above the market average on exchange Bitfinex, which owns Tether. The same thing that happened right before Mt. Gox collapsed.

Tether traded as low as $0.86 on the Kraken exchange in the last 48 hours.