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A comment on Crypto.com Will Delist Tether in Canada. Parent comment

Re:Crypto.com Will Delist Tether in Canada by charcircuit on Wednesday January 11, 2023 @12:08PM (#34340953)
The claim I found was "Our reserves are regularly audited."

Internal audits still have value as it means that someone can't steakily steal money from the reserves without them noticing.

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Re:Crypto.com Will Delist Tether in Canada by Nursie on Thursday January 12, 2023 @03:11AM (#34350587)
Internal audits have no value for the outside world, so we have lies or weaselry, neither is a good look.

Further, they paid $41 million to settle a case over their lies - https://fortune.com/2021/10/15/tether-crypto-stablecoin-fine...

I don't think it's a stretch at this point to say they have a history of, at the very least, being highly economical with the truth and misrepresenting their own level of transparency. And I do think your argument is unreasonable.

Take a look back to 2017 on the wayback machine -

"Every tether is always backed 1-to-1, by traditional currency held in our reserves. So 1 USD₮ is always equivalent to 1 USD."

"Our reserve holdings are published daily and subject to frequent professional audits."

We know that neither of those things was true.

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