Yesterday, Bloomberg's Businessweek published a feature about Tether's $69 billion stablecoin, or more specifically about its backing assets. A highlight of the piece is the author Zeke Faux's description of Tether as "a company that seemed to be practically quilted out of red flags". One of the things that alarms regulators is its rapid growth.

I am the only nationally syndicated conservative talk radio host in America who spent his prior career as a professional gambler and "the King of Vegas Sports Gambling" (as the media dubbed me). But don't take my word for it.

It has long been known that over the past decade Chinese oligarchs who wanted to bypass Beijing's capital controls and anti-money laundering firewall, would smuggle billions of dollars outside of China by using the Macau casino money-laundering infrastructure, prompting Beijing to crack down aggressively on this popular firewall loophole, with mixed success.