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I mean to be fair, they did have an auditor back in 2018. But the auditor quit before completing their investigation. Auditors quitting is never a good sign.
by spookthesunset 5y ago
I mean to be fair, they did have an auditor back in 2018. But the auditor quit before completing their investigation.
Auditors quitting is never a good sign.
https://www.coindesk.com/markets/2018/01/27/tether-confirms-its-relationship-with-auditor-has-dissolved/ https://www.coindesk.com/markets/2018/01/27/tether-confirms-...
- gadnuk 5y agoIt's even worse than that. Tether fired that auditor (Friedman LLC) because they were looking into it in a bit more detail. From the very same article: "Given the excruciatingly detailed procedures Friedman was undertaking for the relatively simple balance sheet of Tether, it became clear that an audit would be unattainable in a reasonable time frame." Even Friedman LLP says in the internal memo “Do not rely on this report”. It's been almost 4 years since that and no independent firm has ever audited Tether.