I've got no interest in stablecoins, never did. However, the last thing cryptocurrency needs is another fucking scandal, and certainly not with a coin like Tether. I'm actually a little bit relieved and surprised that there wasn't some major dishonesty uncovered--because that's been the running theme in crypto since day 7 or so. Well, maybe it took more than a week post-bitcoin creation but it couldn't have been much longer. Lol.
Not to be a pessimist
But anything affects tether would be a blow to a lot of individuals, institutions and even governments
Either directly and most especially indirectly.
Tether and other US backed coins helps increase the global demand for dollar and Us treasury Securities.
It is always surprising the amount of work companies place when auditing is close in covering lose ends.
Whether it was under the table or honest what matters to me is everything worked out well
Cause it would be worse than FTX if it occurs.
I am pretty sure there was something going on on Tether a few years ago, but they made up such a great amount of money, they could have easily "cured" that, whatever it is.
Regarding the full audit, once the political stigma of Tether was canceled, and it was, given their position as the holder of the US Debt, for sure the audit itself was quite simple, a few inexperience-driven errors in the group, I guess, but the structure was very lean, I suppose.
