The so-called “Tether Audit” that isn’t an audit at all

Even Friedman LLP Says “Do not rely on this report”.
Friedman LLP doesn’t claim that Tether isn’t violating the law.

Tether is still mum about where they are banking

Bank names and account numbers. No big super secret information.
  1. Friedman doesn’t know if Tether can even access the funds.
  2. Friedman doesn’t know if the funds are in fact for tether Token redemptions or committed to something else (like margin debt on Bitfinex)

So what does this mean?

No legal claim against them to redeem Tethers

Conclusion

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Blog for @Bitfinexed on Twitter. Exposing possible fraud by largest Bitcoin exchange, Bitfinex/Tether

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Bitfinex’ed

Bitfinex’ed

Blog for @Bitfinexed on Twitter. Exposing possible fraud by largest Bitcoin exchange, Bitfinex/Tether

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