Tether conducted another audit. This time, with the former Director of the FBI. So the bubble will not burst in the next few years!
Another useless audit you mean.
First off, the report is not an audit. It was prepared by a law firm – Freeh Sporkin & Sullivan, LLP (FSS) – not an accounting firm
And this is getting funny:
"The bottom line is that an audit cannot be obtained," Hoegner told CoinDesk, claiming that this problem is not unique to his company but one faced by the entire cryptocurrency industry.
So, they claim they can't get an audit, but they did one.At this point, they've lost me.
Here is the conclusion of the "audit"
https://www.scribd.com/document/382183392/FSS-Account-Snapshot-Statement#from_embedJust read those two lines:
1) FSS is not an accounting firm and did not perform the above review and confirmations using Generally Accepted Accounting Principles.
2) The above confirmation of bank and tether balances should not be construed as the results of an audit and were not conducted in accordance with Generally Accepted Auditing Standards
