It should not be too surprising to any owner of Tether, considering it all relies on Trust over there. You are free to do what ever until they decide you are not, which makes it implicitly not free.
Yes, like me, you and pretty much everyone else is using all kinds of things in existence from software to hardware and services which rely on trust. We need to learn to not be biased and make bad criticism where it is not appropriate. I could accept such ideas as unbiased from someone who lives in a completely trustless way, but I don't think such a person exists.. It seems here the common topic is "rich and successful companies bad and stupid, and poor me is smart". lol..
I'd rather not go down this path of proving you wrong and proving me right, because I'm pretty sure we're on different pages here, and I've accepted that some things are good enough for people who believe in Tether, as you do, and already said that's good for you =) Go in peace, live and let live, right?
You can try, but you have no sound logical basis to do that. As I have explained, you are not doing audits unless necessary and nobody else is going to do audits unless necessary either. Suddenly only a few select companies are bad for not doing full audits when necessary and this is supposed to mean that you are not biased against them.
P.S. Just to clarify, they have been proven guilty in the past though, haven't they? Innocent parties don't pay fines to regulators...
Yeah I checked this out, you are correct with it but what is that supposed to say about the current situation? Who has not been fined in the past whether a company or a person? They have learned their lessons and fixed their mistakes from what my investigation shows. Even the KPMG thing was not an attestation but actually a full audit so the claims made by some people were not true. The details of the audit are not available for public reading which is expected as that is how most private companies do it. What else can you reasonably demand? Would the bias train stop at continuous real-time monitoring and auditing?
PARIS, Aug 14 (Reuters) - El Salvador-based Tether, which issues the world's largest stablecoin, said KPMG U.S. had performed a "full independent audit" of its financial statements for the first time.
As sound of a business as it gets, and probably more sound that the majority of businesses but hey an audit is not enough either so Tether bad!
