Tether

[bbc.reporter]

@adaseb. There is certainly nothing that can be proven for or against about Tether unless there was a transparent audit of their accounts. Why will they not do this if they have nothing questionable?

In any case, read this article. To not make some people angry, assume this is FUD but fact based FUD, however.

https://crypto-anonymous-2021.medium.com/the-bit-short-inside-cryptos-doomsday-machine-f8dcf78a64d3

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[exstasie]

There is certainly nothing that can be proven for or against about Tether unless there was a transparent audit of their accounts. Why will they not do this if they have nothing questionable?

Their general counsel has said in the past that the big auditing firms won't touch them:

“The bottom line is an audit cannot be obtained [...] The big four firms are anathema to that level of risk. We’ve gone for what we think is the next best thing.”

https://cointelegraph.com/news/tether-has-enough-usd-to-back-tokens-says-law-firm-in-unofficial-statement

Tether is pretty shady, which lends some credence to that statement.

Giancarlo, one of the founders of Bitfinex, infamously said a few years ago, "We're not criminals, but now we have to learn to bank like criminals." I don't doubt it!

[bbc.reporter]

@exstasie. However, we should be skeptics and ask why do the big auditing firms do not want to audit Tether? Afraid themselves of what they might find in those accounts hehehe?

[malevolent]

Maybe they are not telling the whole story? Or Tether asked of them to put something in a report that they weren't willing to?

[bbc.reporter]

@malevolent. It might also be those audit firms being afraid to discover accounts of Tether’s clients that might bring them threats of bodily harm if they publish the real report hehehe. I am clearly joking, however, we certainly do not know and it only brings more questions.