Tether CONFIRMS Its Relationship With Auditor Has 'Dissolved'

The price of Tether has dipped under the 1$ USD mark as a result of it confirming that the relationship with audit firm Friedman LLP has ended for Tether. This might spell a serious issue for Crypto in general if Tether can't create a relationship with a new auditor soon.

Spokesperson's emailed statement

"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."