It's recently come to my attention that a couple of things are happening:

• Tether has been minting hundreds of millions of USDT every week
• Tether have been spending the fresh USDT on Bitfenix to buy Bitcoin, which has been artificially driving up the price
• It is unclear as to whether Tether have an actual USD to back every USDT
• Lots of exchanges use USDT

My questions to steemit:

Is this a bubble and if so, how bad will it pop?

If Bitfenix/USDT goes down, will it affect other exchanges?

Will certain altcoins/exchanges be exempt from a crash?