I can't quite see how Tether will be allowed to continue considering how heavy regulators are becoming.
I can see them being allowed to continue(although only on one scenario). Considering politicians ATM are corrupt, tether will be allowed to continue given that they can bribe politicians enough to do so. If not, then I think tether is in a dangerous position ATM and they might be allowed to resume operations depending on their future decisions. 
Topic: Law firm says Tether has enough Dollar reserves to back all USDT in circulation (Read 85 times)
June 26, 2018, 05:20:14 PM
June 26, 2018, 03:54:24 PM
It seems that there is increasing demand for Tether as more people want to pick up Tether and not be involved in Crypto yet, just keeping money on sideline and waiting for right opportunity to invest. This is another sign that lot of money waiting to get into Crypto. Theter has become a TOP 10 coin recently.
June 26, 2018, 02:31:50 PM
If tether gets cleared from this accusation it will be better for the crypto markets. We don't need any more FUD at this stage, especially after the korean exchange hacks. This is good news, and we should hope for more
I don't think it's ever going to be fully cleared. This was a useful boon but far from comprehensive. By this point it's clear for whatever reason a full on audit isn't going to happen. I can't quite see how Tether will be allowed to continue considering how heavy regulators are becoming. The best outcome would be an orderly migration to a more legit USD token.
June 26, 2018, 02:24:07 PM
If tether gets cleared from this accusation it will be better for the crypto markets. We don't need any more FUD at this stage, especially after the korean exchange hacks. This is good news, and we should hope for more
June 26, 2018, 07:10:22 AM
Random snapshot was made on June 1 st by law firm and Tether had $7 m more money in the bank than circulating Tether.
After the audit they printed $250 m Tether and now there is near $3 billion circulating. Curious where this money come from.
June 23, 2018, 06:15:32 PM
It was paid $ 200k by Tether to the law firm to do this examination which was not a full audit.
Concerns are still there as it should be a full audit by a respected audit company.
Concerns are still there as it should be a full audit by a respected audit company.
June 20, 2018, 04:08:32 PM
Lol, so they got cleared by somebody who has an extreme bias? Oh and lets not forget its not a full audit, I am still highly skeptical of Tether and this only makes me more skeptical moving ahead. Why run a half ass bias report? To fool the idiots as far as I am concerned, how stupid can you be Tether? Or rather how stupid do you think we are? 
June 20, 2018, 03:28:21 PM
https://www.newsbtc.com/2018/06/20/report-tether-does-have-enough-dollar-reserves-to-back-all-usdt-in-circulation/
But...
Quote
A Washington-based law firm said today that the cryptocurrency Tether (USDT), which as its name suggests is pegged to the value of the U.S. dollar, holds enough U.S. dollar reserves to back all of its coins in circulation.
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The report, which was authored by Freeh, Sporkin & Sullivan LLP (a firm co-founded by former FBI director Louis J. Freeh) is welcome news for the Tether community, as in the past critics have raised concerns over whether it actually does hold $1 in reserve for every Tether token in circulation, according to Reuters.
To reach their conclusions, FSS said that it conducted ‘comprehensive examinations and telephone interviews of key personnel at Tether and its banks.’ The firm also reviewed account statements provided by the banks, which indicated that the company had approximately $2.55 billion in its accounts on June 1.
To reach their conclusions, FSS said that it conducted ‘comprehensive examinations and telephone interviews of key personnel at Tether and its banks.’ The firm also reviewed account statements provided by the banks, which indicated that the company had approximately $2.55 billion in its accounts on June 1.
But...
Quote
Hinting at potential regulatory concerns, FSS also clarified that the report was not a full audit of Tether, and a review of the numbers was as far to say:
“FSS did not, as part of the Engagement, arrive at any conclusions as to Tether’s compliance with applicable laws and regulations in any jurisdiction.”
This clarification is important considering that FSS co-founder Eugene Sullivan is an advisory board member of one of Tether’s banks, according to the report.
“FSS did not, as part of the Engagement, arrive at any conclusions as to Tether’s compliance with applicable laws and regulations in any jurisdiction.”
This clarification is important considering that FSS co-founder Eugene Sullivan is an advisory board member of one of Tether’s banks, according to the report.
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