Spoiler Alert: The ‘Institution’ buying Tethers, is Bitfinex themselves.

I don’t understand. As far as I know you buy Tethers to trade them for Crypto. That means Bitfinex is trading on their own exchange, which is very bad. If they don't trade, than Tether is just a “deposit bank” for BTC&Co for the time, when the price drops. If the Tether can not be converted to USD, then nobody have losses, nobody complains losses and everybody is happy because BTC rises. This is even worse…this would be very obvious price manipulation. I must be wrong… Please explain me…

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