Tether is a ticking time bomb and the longer it keeps going the more damage it will do when it blows up. Why do users and exchanges continue to use this scam?

For those unfamiliar or in disbelief, please watch this video and read this article:

Coffeezilla video explaining the Tether Fraud

Article on when Tether willl collapse

Even back in 2017 the New York Attorney General investigated Tether and reported that they have never been backed 1:1 by USD. That was back when Tether's market cap was $2B and now it's $65B! The company is run by a bunch of fraudsters and it's so obvious what they're doing! They print tether out of thin air (no one is actually going to them and trading USD for tether to the tune of billions per week), and use it to buy up BTC, altcoins, and other speculative assets. They only have fractional reserves and are gambling with the money given to them! If everyone went to redeem their USD from Tether, they would collapse like FTX did.

In essence, they are 10 times worse than the fractional reserve banking system we're trying to get away from. Why are people using this? Why are "respectable" big players like Binance and Coinbase and others allowing their clients to trade with this? How did this become the de facto stablecoin?

Now you may be thinking, "how would the collapse of Tether hurt the rest of the crypto industry?" It's because the assets they bought with their printed-out-of-thin-air coin is largely in Bitcoin, ETH, and others and they are lying about those holdings. As people go to redeem their tether, Tether will be forced to dump their holdings (Bitcoin, ETH, etc) for USD to give the redemptions. We're talking billions of dollars of bitcoin being dumped on the open market. Prices will collapse unlike anything we've seen in years.

This all needs to stop. Please do not hold onto USDT, you may lose your pants. This beast needs to be pulled down. How can we get the exchanges to stop enabling this fraud? Do we need to call for SEC investigation and regulation?