Bitfinex and Tether is unauditable: Why they will never do a real audit.

“We confirm that the relationship with Friedman is dissolved. 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. As Tether is the first company in the space to undergo this process and pursue this level of transparency, there is no precedent set to guide the process nor any benchmark against which to measure its success.”
- Tether spokesperson

What matters is the order of the transactions, and who legally owns the account.

We need the promised 2016 audits as well

The Bitfinex ‘shelf’ corporations

Two of the three shell accounts Bitfinex has been using. Source
Notice the nominee director is the same as “CRYPTO SP. ZO.O”

You can’t audit this!

“R” is the Founder of Bitfinex Source

Once a cheater, always a cheater.




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