Is Tether really stablecoin?

Business media has raised its concerns regarding the stability of Tether USD. Personally, for me, it has been challenging to make an opinion is a Tether really going to continue its stability. What do you think, will Tether keep its status as the number one stable coin in the crypto market?

Bloomberg article: bloomberg.com/news/features/2021-10-07/crypto-mystery-where-s-the-69-billion-backing-the-stablecoin-tether