Tether being discussed on Bloomberg.
I have read Bitfinexed’s critique of the Friedman audit of Bitfinex. It’s pretty clear that Bitfinexed has no experience of interpreting audit reports and is going at completely the wrong issues.
That said, Bitfinex has done a piss poor job of managing the issue. It should publish monthly transparency reports at the least, and those reports should be signed off by Friedman. So it only has itself to blame. And attempting to sue people rather than improve its reporting practices is a bad sign.
Yep.
The concept of Tether is great, but because it's the fiat on/off ramp it needs to be run the same way the fiat world runs otherwise it **will** get shut down one day. We have seen this story before. No amount of "secret sauce" can stop it forever.
If one of the big banks (or nation states?) steps up and creates a USD tether with all the audit bells and whistles, AML & KYC and all that crap it will be a huge boon for the whole ecosystem.
BTW when the feds do finally freeze all the tether bank accounts, all that money is going to flow back from the shitcoins to the Honey badger. It will be an epic day.
Edit:
https://www.bloomberg.com/news/articles/2017-12-05/mystery-shrouds-tether-and-its-links-to-biggest-bitcoin-exchange