Price manipulation of bitcoin is, I think, as possible as it's been done to gold and silver. That's what I don't like about Big Finance getting its hands on crypto.
Though the ETF news is initally pushing BTC higher, sending it about 30% higher since the news broke.
Yes, Tether is not a free market crypto. It's controlled by Tether Limited Inc and if that company goes belly up for any reason, or is discovered to not have backing for the coins it's issued or otherwise found untrustworthy, Tether goes to zero. Since it's not free makret, Tether can freeze wallets at its discretion and I read has done so. Though the reason is alleged ties to child trafficking. If so, then in this case it's freezing wallets for a good cause.
Watched it, but this style of trading is treating crypto as a commodity. I.e. something to be bought and sold for the purpose of making dollar profits. I prefer the buy and hold strategy with a long term view of crypto being a lifeboat for the eventuality of the dollar collapsing.
Gold & silver are of course good and in the event of a complete collapse will outperform everything crypto as well as everything fiat. But short of a complete collapse, Crypto has utility value as a currency which every economy NEEDS to function as an economy. So crypto has no intrinsic value as G&S do, but it does have far better utility value for use as a currency because transactions are instant and payments super precise, whereas G&S have weight & purity issues inhibiting retail use.
G&S are great though. I like both. But crypto has advantages too.