Tether Severs Ties With Its Auditor, Leaving Its Accounts Shrouded in Mystery

Last year, after lingering rumors that the company didn't possess the USD to cover the USDTs it was merrily issuing, Tether reluctantly agreed to conduct a public audit. Friedman LLP has confirmed via a statement that its relationship with Tether has come to an end, but gave few specifics as to the reason behind the parting of ways, preferring to trot out platitudes about remaining "Committed to the process". In theory, issuing batches of tethers in accordance with fiat currency deposits into a Tether bank account ought to be a straightforward. "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," proffered Friedman on Saturday.
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