Company Tether on the website changed the description of reserves, which provided them an ambiguous stablon USDT.
Now the company asserts that each coin is provided “reserves, which include traditional currency and their equivalents, and from time to time may include other assets and receivables the loans granted to Tether third parties.”
The company had previously stated that each token USDT supported by U.S. dollars, which are tied in a 1:1 ratio. Doubt this came from the crypto community in 2017. Fueled by their lack of formal auditing of the funds of the company.
In June last year, Tether has tried to dispel the rumors about insecurity of their stable of tokens with Fiat money, but again, without audit. Legal company Freeh Sporkin & Sullivan LLP, said that according to Bank documents, on June 1 the accounts of the company kept $2.55 billion with the issuance of 2.5 billion USDT.
Later Bloomberg on the basis of his trapped in the financial documents of the Tether in two different period confirms support USDT sufficient reserves in dollars.
In the review of changes to the wording of the reserves made by the Tether on the site, Reddit users noted that USDT is not provided on 100% dollars and be supported by scriptactive flowing with Bitfinex. One of the commentators compared this situation with the pyramid, reminiscent of
Bitconnect.
Portal the Block suggested that the Tether was able to change the description of the composition of the reserves due to the ongoing investigation by the Commission on trade commodity futures (CFTC) in relation to the activities of the company.
Recall that last year, launched a number tablconv tied to the dollar, including Paxos Standard (PAX), Gemini Dollar (GUSD) or USDC. For example, Circle publishes a monthly report of the audit company Grant Thornton LLP confirming the security token USDC Fiat currency. Platform TrustToken together with an accounting firm Armanino launches service auditing real-time security it stablein TrueUSD.
Source
