Earlier this week, a spokesperson for Tether, the cryptocurrency that is pegged to the US dollar, said that the company was dissolving its relationship with its auditor.
The statement read:
"We confirm that the relationship with Friedman is dissolved. Given the excruciatingly detailed procedures Friedman was undertaking for the relatively simple balance sheet of Tether, it became clear that an audit would be unattainable in a reasonable time frame. As Tether is the first company in the space to undergo this process and pursue this level of transparency, there is no precedent set to guide the process nor any benchmark against which to measure its success."
Since the statement was released, there has been growing suspicion that Tether has been printing money out of thin air because they were having trouble keeping up with demand with their own assets.
Just today, those suspicons grew when it was announced that The U.S. Commodity Futures Trading Commission sent subpoenas to Bitfinex and Tether earlier this month, as the team behind Bitfinex is also responsible for Tether.
“We routinely receive legal process from law enforcement agents and regulators conducting investigations,” Bitfinex and Tether said Tuesday in an emailed statement to Bloomberg. “It is our policy not to comment on any such requests.”
https://www.coindesk.com/tether-confirms-relationship-auditor-dissolved/
(sources for article are hyperlinked at the site above)
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