Re:Crypto.com Will Delist Tether in Canada
by TylerE on Tuesday January 10, 2023 @10:17PM
(#34334641)
What auditor are they on now? When even one’s in the Caymans don’t touch you that says something.
Note that an attestation isn't an audit.
It's not nothing though - certainly more than FTX had.
Re:Crypto.com Will Delist Tether in Canada
by raverbashing on Tuesday January 10, 2023 @10:42PM
(#34334768)
I'm sure FTX looked great on paper before it all blew up
I'm not defending them.
But I am noting they do have 3rd-party attestations (NOT audits!) which is the same as what Circle does with USDC.
FTX used their FTT token to prop up their balance sheet. This attestations says USDT isn't like that.
Re:Crypto.com Will Delist Tether in Canada
by lmm on Wednesday January 11, 2023 @01:23AM
(#34335657)
As a matter of historical fact it didn't. Their balance sheet was an excel sheet with random entries like "fiat@: $8B".
(I don't trust any entities in the crypto space, but just for the record)
Re:Crypto.com Will Delist Tether in Canada
by davidcbc on Tuesday January 10, 2023 @11:07PM
(#34334909)
Weird how they said they were going to release monthly attestations through them and then did exactly one 4 months ago, and then in December BDO said they were going to stop dealing with crypto companies.
Oh well, probably nothing!
> they were going to release monthly attestations
Did they say this? I thought it was quarterly (same as what Circle does with USDC)
> in December BDO said they were going to stop dealing with crypto companies.
Yeah who would blame them?
The most recent was Sep 2022 by BDO.
They have a mix of assets (as you'd expect, because they have different liquidity requirements). But the majority is in short term (<45 day) US Treasury Bonds or Cash and Bank deposits. The other largest asset class is money-market funds, which is a pretty well understood asset class.