Tether breaks with the auditors and postpones the transparency operation

Tether breaks with the auditors and postpones the transparency operation: a new tile hits the credibility of the company's stablecoin.

There seems to be no opportunity for media "redemption" for Tether, the cryptocurrency project that was hit by a hacker attack last November 2017 capable of causing $ 31 million in damage, and which once again re-launches the fulfillment of the announced transparency operation by breaking its relationship with the auditing company.

According to what is precise CoinDesk in a focus a few hours ago, Tether he allegedly stated in his own official statement that the relationship with Friedman LLP has melted. Friedman LLP had been identified as an auditing firm that was supposed to do its own auditing work on the company, but apparently the timing of the dossier took so long to stretch the relationship between the two parties.

What happened, however, runs the risk of "degenerating" the already compromised media opinion on Tether, fueling criticism about his cryptocurrency, USDT, a particular digital asset anchored to the dollar and designed to function as one stablecoin, a cryptocurrency that should have contained the sector's typical volatility.

Unfortunately, however, his story has been repeatedly referred to by the American media as the emblematic example of the opacity of cryptocurrencies. In November, a few days after the hacker attack, the New York Times criticized Tether sharply by questioning its real sustainability, while a few weeks ago Bloomberg came to speculate that the company behind Tether did not have enough resources to support in the long term this project.

It is true that Tether has always promptly declared herself extraneous to these criticisms. However, the breakdown of relations with the auditing company Friedman risks casting new shadows on this project, and raising new doubts about the reality of Tether's plans.