You raise a lot of good points. A lot of people (both tech and finance peeps) are freaking out over Tether - seeing it not just as a single, isolated incident, but as something that could take down the whole crypto space. Like this WIRED article: https://www.wired.com/story/why-tethers-collapse-would-be-bad-for-cryptocurrencies/. It's helpful that you have an auditing/finance background. When you know what companies "should" be doing and what companies "could" be doing, it makes it much easier to see how Tether is doing neither. Being in the crypto space shouldn't give anyone carte blance to flout basic common sense.
You are viewing a single comment's thread from:
it's easy to get away with stuff like this in the crypto space because there are no required regulations to follow.
now, I don't think regulations will solve anything, as there are always ways to skirt around them and they are not always created with the best/most altruistic intentions. but it's certainly an opportunity for legitimate businesses to set a standard of quality and transparency for the sake of their users and investors.