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And? Having an income statement or a cash flow statement is not what Tether critics claim to want. The attestation report is basically a balance sheet for Tethe
by evdubs 4y ago
And? Having an income statement or a cash flow statement is not what Tether critics claim to want. The attestation report is basically a balance sheet for Tether showing their assets (cash, cash equivalents, etc.) and liabilities (outstanding USDt tokens). BDO Italia confirms Tether's assets by going directly to Tether's banking partners to get their info. The reports are point-in-time, but there have been several of them by now and each one has shown Tether to be backed.
Same for Paxos.
- NotYourLawyer 4y agoNone of them are audited. Only a fool would believe anything they say.
- evdubs 4y agoThe NYAG requires Tether to produce these reports. The NYAG would have already stepped in if these reports weren't to be believed.
- NotYourLawyer 4y agoLet’s revisit this comment in a year or three.