TETHER AUDITORS PULL OUT - WHAT DOES THIS MEAN?



  • As many may know, there is quite a bit of uncertainty surrounding the Tether USDT tokens in the market. There were numerous accusations of connections between Tether and Bitfinex which had a great deal of people concerned. 

    In order to calm these fears, they agreed to have a full audit of the USD that was backing up the Tether holdings. This was supposed to be completed by auditors, Friedman LLP. 

    However, it seems as if these auditors have now decided to pull out and resign from the Audit. 

    https://www.coinbureau.com/news/tether-bitfinex-drama-continues/

    This has caused a great deal of speculation in the community that it could mean that they have found something irregular in the books and are not putting their name to it. 

    Should we be worried about this and what it means for the integrity of the Tethers? How could this affect market prices in the short term?



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