Tether discontinued cooperation with the auditing firm Friedman LLP


The issuer of tokenized dollars Tether announced the termination of partnership with the auditing firm Friedman LLP. This is reported by CoinDesk.

The company Friedman LLP audited Tether tokens, which are largely represented on the large Bitfinex exchange. In the opinion of many critics of both companies, among which the notorious blogger Bitfinex’d, Tether in large numbers produced not provided with the fiat currency tokens. Also Bitfinex’d is convinced that the excessive emission of such tokens caused a recent sharp surge in the price of bitcoin and other cryptocurrencies, which was later replaced by a sharp dump in early 2018.

“We confirm that the relationship with Friedman is terminated. Given the extremely complex procedures to which Friedman resorted to check on a simple Tether balance sheet, it becomes clear that such an audit can not be conducted within an acceptable time frame,” CoinDesk quotes an excerpt from the company statement.

Sharp cryptoenthusiasts from social networks noticed last week that the Bitfinex logo disappeared from the company’s customer list on the Friedman LLP website.

The last time the audit of Tether accounts was conducted by Friedman company in September last year. As indicated in the preliminary report, the reserve of the tokens USDT was $ 442.9 million in the denominated currency.

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