One of the biggest mysteries in crypto revolves around token issuer Tether. Crypto enthusiasts—and crypto journalists— have long tried to figure out exactly what hard assets comprise the massive reserves that tether, as a “stablecoin,” is required to keep its dollar for dollar ratio in backing bitcoin with American dollars. The question is not academic. Tether has more than $78 billion worth of tokens in circulation and is by far the largest stablecoin issuer, accounting for about half of all transactions against bitcoin on centralized exchanges. Press play to hear a narrated version of this story, presented by AudioHopper. If the market began to question the stability of those dollar…