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Culture War Roundup for the week of December 12, 2022

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Or are you saying they just took Tether's word for it?

Yes.

Learn some accounting. They go through significantly more scrutiny when you buy a house. Tether has been shown to double or quadruple count assets in the past. Tether has been shown to literally make things up. Plenty of other friendly actors move 10x the assets into an account then remove it the day after.

From the end of page 1, halfway down through page 2 it lists all the things they did. They checked over the blockchain records, they got confirmation letters from banks, looked for the collateral in the loans... Not what I'd call 'confirming that Tether claimed things'.

That was a hit piece against Tether you know. They investigated it and found large amounts of bs and contradictory flows, not BDO.

In 2017 https://ag.ny.gov/press-release/2021/attorney-general-james-ends-virtual-currency-trading-platform-bitfinexs-illegal

Tether published a self-proclaimed ‘verification’ of its cash reserves, in 2017, that it characterized as “a good faith effort on our behalf to provide an interim analysis of our cash position.” In reality, however, the cash ostensibly backing tethers had only been placed in Tether’s account as of the very morning of the company’s ‘verification.’

It disappeared the same day.

In march, Tether claimed 4.96 billion in "other investments (including digital currencies)" when the crypto market was over 2 trillion. After it dropped under 900 million a few months later, Tether claimed 5 billion. The numbers they claim are verifiable bullshit.