Tether dissolved relationships with auditor

[hell_slayer]

According to this article https://www.coindesk.com/tether-confirms-relationship-auditor-dissolved/ , Tether is afraid enough with their upcoming audit to dissolve relationships with Friedman LLP auditor .

For me it looks like Tether will try to find a "handy" auditor , which will legalize their manipulations with usdt & bitcoin . (I mean there was around 400 million usdt issued by Tether over a last weeks to buy/manipulate bitcoin price . And this is not a first time they did it) .

What do you think about all of this , guys ? Is it better to make a fair audit and reveal Tether manipulations , which will lead to a crypro market depression , or just pretend like this never happened ,which will allow Tether unlimited manipulations in a future ?

[thejaytiesto]

It's possible that they will try to find some smaller guys in which they can easily bribe to get whatever desirable outcome with the audit. I believe something is fishy with Tether, but I understand running a business like Tether isn't easy at all. If you want the comfortable option of having a virtual gateway against the dollar without massive KYC, then the accounts in which the dollars are held aren't going to be the most famous and audited banks out there, they must be sitting on some tax haven of sorts, which is what makes the process smoothly. You can't have the cake and eat it at the same time. It is a complex issue.

Ultimately Bitcoin is limited to 21 million, fiat itself is fractional reverse clusterfuck so if a crypto based on the dollar also does it ultimately doesn't change much. Sooner or later we'll have a Tethering and it won't be pretty tho, but we'll survive.

[HashFace]

This really sucks.  I think Tether is a great idea, if executed properly, but they are doing nothing to put to bed the rumors that they are cooking the books.  This will only give the rumors strength.  

There is an opportunity here for someone else to fill this gap with a transparent Tether competitor, which people will flock to if they are openly audited and prove their backing funds (a) exist and are (b) properly sequestered.

[balrog]

Seems like Tether have ambitions to become something similar with US Federal Reserve , but in crypto world . They can "print" as many usdt , as they need . Damn , that's a big problem . I'm not economist , but I think this scheme can possibly ruin all crypto economy in a future . This is where a "bubble" come from ! I think it is better to reveal this manipulations at this stage , because if it reveals after market cap will rise up to several trillions usd it can become a "needle" for a crypto "bubble" !

[lobo13hf]

According to this article https://www.coindesk.com/tether-confirms-relationship-auditor-dissolved/ , Tether is afraid enough with their upcoming audit to dissolve relationships with Friedman LLP auditor .

For me it looks like Tether will try to find a "handy" auditor , which will legalize their manipulations with usdt & bitcoin . (I mean there was around 400 million usdt issued by Tether over a last weeks to buy/manipulate bitcoin price . And this is not a first time they did it) .

What do you think about all of this , guys ? Is it better to make a fair audit and reveal Tether manipulations , which will lead to a crypro market depression , or just pretend like this never happened ,which will allow Tether unlimited manipulations in a future ?

So, can we take a conclusion, if tether does not backed by anything?  Like what already said before? This coin just full with a lot of manipulation from the developer and how the developer is trying to print more and more tether and then send it to the market.

[latumi1]

Seems like Tether have ambitions to become something similar with US Federal Reserve , but in crypto world . They can "print" as many usdt , as they need . Damn , that's a big problem . I'm not economist , but I think this scheme can possibly ruin all crypto economy in a future . This is where a "bubble" come from ! I think it is better to reveal this manipulations at this stage , because if it reveals after market cap will rise up to several trillions usd it can become a "needle" for a crypto "bubble" !

Yeah, if USDT going this route then I will stop using it. No way I gonna trust them if they could control or 'print' it like that.

[flipperfin]

I dont get the people always screaming when tether prints more money. The way it is, they have to do it, since more people have entered the market and during these times, more people have chosen to play it safe in USDT. With that being said, I really hope an audit is completed soon so we can clear the fud or get over the crash.

[emoji00]

According to this article https://www.coindesk.com/tether-confirms-relationship-auditor-dissolved/ , Tether is afraid enough with their upcoming audit to dissolve relationships with Friedman LLP auditor .

For me it looks like Tether will try to find a "handy" auditor , which will legalize their manipulations with usdt & bitcoin . (I mean there was around 400 million usdt issued by Tether over a last weeks to buy/manipulate bitcoin price . And this is not a first time they did it) .

What do you think about all of this , guys ? Is it better to make a fair audit and reveal Tether manipulations , which will lead to a crypro market depression , or just pretend like this never happened ,which will allow Tether unlimited manipulations in a future ?

I will just stay away from any dubious coin, particularly when does look like justified FUD. There are too many opportunities to risk stupidly on these projects that don´t seem clear.

[GuiDonK]

news about tether:

We have also read online about many outlandish conspiracy theories suggesting that Tether is not backed 1:1 by currency on deposit with banking institutions. Any such claim is unequivocally false, and the audits will bear that out. Our Terms of Service have been carefully picked apart by various malcontents and twisted to suggest that Tethers would not be redeemable for currency on some bizarre, malicious whim by Tether. That is untrue. While we reserve the right not to redeem for any particular customer, as we must, we will not do so for no reason. We have a duty to try to ensure that our service is not being used by persons from sanctioned countries, that is otherwise on a sanctions list, or that has some background check problem. In short, redemptions will not be unreasonably denied, but we reserve the right to selectively deny redemption and creation of Tethers on a case-by-case basis. As such, this policy, which is necessary from a regulatory perspective, has no bearing on our presentation of the liabilities of the company. The company considers all tethers outstanding to be liabilities for presentation on the balance sheet for which there is always an equivalent amount (or greater) held in assets to back those presented liabilities. Full stop.

https://tether.to/tether-update/

[AshCoins]

The inevitable downfall of previously bitconnect and now usdt is like pulling a bandaid.  Yeah it will be painful for overall markets but it just needs to happen and it’s better it happens quickly so markets can recover stronger and people will be more weary and intelligent.