For those interested in the set of concerns that are focused on Tether, I would recommend the work of [ Cas “Mildly Interesting” Piancey (@CasPiancey) / Twitter ] and [ Bennett Tomlin (@BennettTomlin) / Twitter ] at [ Crypto Critics' Corner (@CryptoCriticPod) / Twitter ].
Protos Media, which appears to be one of the few outlets not beholden to the crypto industry and its promoters, has recently released a report, "The Tether Papers", which is discussed further in a recent CCC podcast: Episode 34 – The Tether Papers (featuring David Canellis of Protos Media) – Crypto Critics' Corner (cryptocriticscorner.com) .
In all, control of crypto initiatives--including DeFi--appears to be far more centralized than advertised. Per [ Goddamn Forking Stablecoins – Bennett's Blog (bennettftomlin.com) ]: "The more economic activity that depends directly or indirectly on stablecoins[, such as Tether,] the more influence that stablecoins have over the governance, and right now there is significant economic activity that depends on stablecoins."