Tether: What part of this balance sheet do we not believe?

GlobalMacro90 said:
why would being extremely profitable (and in theory able to handle any tether redemptions) a “red flag”?
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simple, you have a small team whose token keeps whole crypto market afloat. They have been caught lying many times. Not a single audit was ever done. And yet they are just a profitable as Goldman.

Now, to be fair, Cantor CEO remarks at Davos did add some credibility. I think Crypto market would greatly benefit if audit is done by a reputable firm. But if history has any guidance, there will be no audit.
 
If the original Big 6 were still around... it wouldn't put it past me to see Tether trying to get Arthur Andersen to handle their audits. That company was corrupt to the core when it came to bribes.
 
The_Krakenite said:
If the original Big 6 were still around... it wouldn't put it past me to see Tether trying to get Arthur Andersen to handle their audits. That company was corrupt to the core when it came to bribes.
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those days a long gone. That is why no reputable company will do audit. They hired someone back in 2017 and fired because auditors did not understand their business model.
 
those days a long gone.
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Bullshit. We still have the Big 4 remaining, and now that oligopoly has even more control. EY is the Euro version of Andersen. Hence, we had to deal with the fallout of the Wirecard fraud, and the other bogus shit floating overseas.
 
RedDuke said:
simple, you have a small team whose token keeps whole crypto market afloat. They have been caught lying many times. Not a single audit was ever done. And yet they are just a profitable as Goldman.

Now, to be fair, Cantor CEO remarks at Davos did add some credibility. I think Crypto market would greatly benefit if audit is done by a reputable firm. But if history has any guidance, there will be no audit.
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I actually agree with most of what you’re saying here, except for the whole propping up the whole market part, which, as you know, I think you exaggerate. I will just add it is “easy” to be this profitable considering all they have to do is essentially take money and put it into tbillls.

I would love to see an audit too, but I am not holding my breath. That being said, the cantor CEO is not lying. Let’s be real
 
The_Krakenite said:
Bullshit. We still have the Big 4 remaining, and now that oligopoly has even more control. EY is the Euro version of Andersen. Hence, we had to deal with the fallout of the Wirecard fraud, and the other bogus shit floating overseas.
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Here in the states it is very tight.
 
GlobalMacro90 said:
I actually agree with most of what you’re saying here, except for the whole propping up the whole market part, which, as you know, I think you exaggerate. I will just add it is “easy” to be this profitable considering all they have to do is essentially take money and put it into tbillls.

I would love to see an audit too, but I am not holding my breath. That being said, the cantor CEO is not lying. Let’s be real
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agree about Cantor and that is why I mentioned it as positive news. But he said some of reserves. It could be few billions of real money that we all know they have.
 
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