Tether's Reserves Exploded During This Period

The amount in Stewart Hoguener's account over this entire period did not change at all. And yet the number of Tethers in circulation exploded during this period. So it is incredibly difficult to figure out what the flow of funds was during this era and how they were directly backing Tether. My guess is that many users were interacting with crypto capital court, the payments processor that both Bitfinex and Tether depended on. It could be an offshoot of Deltech Bank and Trust that Palo Altoino director Juan Carlo Davis de Stefano used to run. There's a possibility that just these don't recognize the name of Tether because people are transacting using other names.