Traders use it, exchanges love it, and users, well, use it. But the tango with Tether is about to come to an abrupt halt, not because Tether isn’t fully backed, that’s not the right question, but because it’s backed by the wrong sort of dollars. — Eric Nguyen is busy at his computer, sending his Tether ERC-20 address so that a small business owner in Wilmington, Virginia, can send him 500 USDT as payment for website development.