This guy is clearly a crypto newbie and doesn't understand that all the things he is saying MAY be wrong with Tether ARE definitely wrong with the US Dollar itself and the current banking system.

Also he misrepresents the nature of the BTC-UST trade.
He presents it as a one-way trade UST buying BTC but it is also BTC buying UST on a one for one basis.
Most of the trade volume on BTC-UST is driven by traders not investors.

It is investors going into or out of BTC that drives the price long term. Only short term moves are driven by traders who are just arbitrating and speculating.

Even if Tether is his worst case scenario fraudulent it means nothing other than a short term blip for BTC.

Hi chart of the increase in the amount of UST issued is also misleading because it doesn't start at zero.
It merely shows a 12.5% increase in 2 years.

Compare this to the chart of USD issuance which has a 35% increase in total issuance in 9 months since March 2020.

The scale of any fraud by Tether is miniscule compared to the scale of the Ponzi scheme being run by the US Federal Reserve!