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Comment by simmerup | Hacker News Reader

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No one. But they don’t need a buyer to create Tether coins.

But if they want to buy Bitcoin with them there needs to be someone on the other side of the transaction.

Which is fine, as long as the Tethers aren’t turned into real money their value isn’t realised. They stay in the system and the charade goes on

The users of USDT are fine with this scheme (at least, they've been so far)

It could be pretty much the Germany police, directly or indirectly, since Tether proposes non volatile "currency" easily convertible with Bitcoin.

But the German police wants real money not Tether. There needs to be someone to offer it or BTC/USD will collapse.

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