TETHER JUST RELEASED PROOF OF FUNDS

Fake if fake

I'm retarded. I wasn't arguing against you, I was arguing against people who claim that there's no way Tether can hold 2.6 billion USD.

>first line is a disclaimer about how the document cannot be relied upon
lol, this is not an audit, or even a review. there's literally no assurance any of that is correct - but what do you expect from a buncha NEETs hoping theyre gonna get rich off computer money

Big if true

yeah seems legit. really makes you wonder why they refuse time and time again to be audited, why they refuse to comply, why they will only release one month and not the others. but hey im sure theres no wrong doing here

I just released a report saying I'm a billionaire

They need more than an accountant's letter, they need an auditing company. There aren't many:
en.wikipedia.org/wiki/Big_Four_accounting_firms

Fake news just works with negative news baka

>2.6b is chump change
not quite mate, not quite

youtu.be/UbhqGaQJHuE?t=52m42s

5 of the biggest exchanges in the world buy USDT from Tether. They move way more than 2 billion USD on a daily basis and collect an average of 0.2% in fees on all trades. They also make money with arbitrage bots. Just think about this for a second.

>The CEO of bitfinex, an exchange that's been taking a decent percentage of a MASSIVE AMOUNT of BTC trades since 2014 can't have that amount of money available to him

Do you realize how dumb you sound?
If they made 65 million worth of BTC in 2014 and 2015 combined, that BTC ALONE would be worth 2.6b

Not even counting the trades in 2016,2017 and so on.

If FUD can be generated from something that happened in December, just because this is from September doesn't discredit it.

>Mt. Gox can't be insolvent guys!
>They make millions in fees

Turned out,most of it was bot wash trading.
Reminds me of something...

>500 million in volume every 24 hours
>15 trillion in volume last month on bitcoin alone
> another 7 trillion in ETH in the last 30 days
>0.1% in fees on every transaction

bfxdata.com

If Tether funds are real, why aren't they allowing new member to register and redeem?

b-but it's all fake money user! Tether is a scam!!!!!

Wow they posted an official looking document of a third party on their own webserver. Nobody in the history of a scam has ever done that before.

just because current funds are real doesn't mean they have enough to cover everyone

This means absolute shit. They've printed 1.5 billion tethers since this audit.

This has already made the rounds when their auditors gave up, relevant part is :

Regardless, the fact their sign in has been closed for months is very fishy and it's a huge risk to hold tether if you don't have an account with them.

>september
TOTALLY NOT GOOD

their auditor quit, there is no audit and there is no money backing that shitcoin

big if huge

The Jewining

In crypto it is. Coinbase alone had more than a billion in revenues last year.

>BTC going to die before June at this rate
>LOL WE'LL RELEASE PROOF IN SEPTEMBER

KEK

>September
>442 million
>now over 2.2 billion
>and this:

yes, yes. believe in tether and put all of your holdings into it to weather this crash guys

An audit goes through all transactions they have. They don't need that. People are worried because they think they are misappropriating funds. Just a verified account balance will ease a lot of fears.

Why would they bother to release this document if they were scammers?

to give a sense of legitimacy

>This information .. should not be used or relied upon..

Translation:

"We were audited by the Seven Dwarfs."

>FRIEDMAN LLP

WHAT THE FUCK IS THIS PLOT TWIST???????

coindesk.com/tether-confirms-relationship-auditor-dissolved/
coindesk.com/tether-confirms-relationship-auditor-dissolved/
coindesk.com/tether-confirms-relationship-auditor-dissolved/

The report is from September, before their relationship 'dissolved.' They aren't being audited by any company right now.

coindesk.com/report-cftc-sends-subpoenas-bitfinex-tether/amp/?__twitter_impression=true

This document has been around for ages. Also note that this is before the Tether printer went full retard and overdrive which almost coincides with BTC spikes if you look at graphs. So many people will be purged completely when this bomb finally goes off. Have fun getting sealed in the Tether bunker when that day arrives.

oh... so it's just the old memo?

A lot of people are mixing up the two separate conspiracies when it comes to Tether. One that is plausible, and one that is pants on head retarded. People are using the first plausible conspiracy theory to justify why the second retarded conspiracy is likely true as well.

>Conspiracy theory 1:
>Tether is not backed by USD on a 1:1 ratio
>If proven to be true, Tether becomes worthless as it fails to deliver on its only function. The only effect it will have on BTC/alts is retards panic selling without realizing that it has nothing to do with conspiracy theory #2
>This conspiracy is somewhat plausible, considering Tethers unwillingness to allow an audit
>This is what Charlie and every sane person is referring to

>Conspiracy theory 2:
>Bitfinex used Tether to prop up the BTC price as a form of Tether distribution
>Rather than distribute the Tether to exchanges through ordinary means
>This conspiracy is pants on head retarded
>This is what Bitfinexed, people who have a short position and absolute brainlets are pushing

>market cap of crypto is 500+ billion
>daily volume of 10+ billion
>Muh 100 million printed tether is keeping the price up

Reddit btfo

you just illustrated the point against you, retard

market cap is circulating supply x current price.

if the daily volume is 10 billion, only 10 billion (or 2% of the market cap) at the current price sets the market cap

2.2billion is a large percentage of 10 billion

Does it start wit C and end in OSS ?

gay if faggot

Why do you even try? Obviously these guys are just trolling. Nobody could be that stupid irl.

Well, they could just show someone their bank books...

This was released on september

Do you realize they don't even publish their location, or the name of their CEO?

lol. Nothing unusual about that. Right?

>daily volume
>large percentage of total tether supply

Did you even read that document?

It's a CONSULTING report that mentions explicitly it didn't do stuff typically done during an audit, including verifying the accounts.

In fact, that very auditor DUMPED THEM scrubbing every single mention of them from their website.

The big issue tether has right now and imo that's the reason they have dissolved the auditing process with Friedman LLP is:

A full audit would lead into complete transparency. This means, every single bank account will be we avaible for the public. Guess what US world police will do afterwards. The fucking freeze all your accounts in no time and then good luck with your billion dollars. And yes US can force bank freezes easily.

>don't even publish their location, or the name of their CEO?
You what?

Banks don't even carry that much

>What are multiple bank accounts?

You are the real normie. Reading a bloomberg article and thinking you would know everything in that topic.

Brainwashed as fuck. Get jewed

Wat

>The only effect it will have on BTC/alts is retards panic selling
It will be a panic, but I'm not sure it's unwarranted.

lol. 'brainwashed', 'jewed'.
This is going to be hilarious

You are retarded. Any licensed accounting firm can do it, not just the big four.

I'm from /pol/ and it's pathetic how fucking clueless you all are.
You're worse at understanding business than /g/ is at understanding technology.

READ THE MOTHERFUCKING DOCUMENT and try to understand it.

It basically shows that there is a bank account with US dollars owned by Bitfinex managers. But no one has EVER doubted that (the point of any scam is to make a lot of money for whoever runs the scam). The whole question is what the legal relationship between that account and Bitfinex account holder exists, which that consulting report does not audit or explain (in fact there is an explicit disclaimer that they did not verify that).

It's basically the equivalent of Bitfinex owners including the Lambos they own that are parked in the Bitfinex office as company liabilities.

No, an audit doesn't do that. An audit just verifies that the financial statements are not materially misstated.

You have no idea what an audit is.
The auditor has access to everything, yes, but they don't publish any of it.
They just write a letter with their signature stating that they've verified everything.

Read any annual report from a listed company to see an example. If I'm not mistaken this is the "business" board, so surely a few people here regularly do that, yes?

>their auditor quit

Actually he was paid to leave. He has orders to hide deep in the mountains and KOS anyone that approaches to ask him about Tether

>tether.to/wp-content/uploads/2017/09/Final-Tether-Consulting-Report-9-15-17_Redacted.pdf

So when are they paying their taxes, as tether is technically the sale of an asset at value.

holy fuck those digits

bitcoin = imaginary money
tether = imaginary money

what's the big deal?

No one in this thread has any idea as to what the document says. Did you fucks even read it?

They did not. If they did they would be discussing Note 1 and Note 2 on page 4.
But they most likely don't understand any of it.

Your trips confirming my jew trips theory

Is this trump level chess? Pay an autist (or point a gun at him based on how he was talking in the interview) to release months old fud only to dispell it a few hours later.

Does anyone here understand what Limited in "Tether Limited" means?

Linkies....we are oversold.
Reddit is gone.
Buy their bags.

>im from /pol/

haha lemme stop you right there my man, you gotta go back

Tether crash is already priced in

WOE THANKS OP

TETHER GOING TO THE MOOOOON!!!

if only there were some sort of "engine" where you could "search" for the answer

Really activated my almonds reading this bit

Lambofunds confirmed

I'm not asking what it is. I'm asking if any retard here understands what it means.

>Tether is possibly fraudulant and could go to $0
SELL SELL SELL IT ALL INTO TETHER

Crypto is fucked is what it means, but gets it

Uncle Sam quite simply will not stand for people owning a USD printer. It's the main source of power of the unholy alliance between banksters and gov.
These Tether guys are going down, legit or not. Amd I'd wager not, after the subpoena they started printing tethers like crazy (and the coin market went crazy) which feels like an exit scam in progress where the thieves grab as much gold from the vault before fleeing.

>having $2.6billion
>telling the US govornment where it is