Tether co-founder Reeve Collins defended company’s perceived lack of transparency during rather heated interview with CNBC’s Andrew Ross Sorkin
an engem rezent interview with CNBC’s Squawk Box, Andrew Ross Sorkin pressed Tether co-founder Reeve Collins on the lack of transparency surrounding the reserves of the leading stablecoin issuer.
Sorkin, referring to e rezent Stéck published by the Wall Street Journal, pointed to the fact that Tether does not publish its audited financial statements, which means that outsiders are left in the dark. “If you do have reserves, why don’t you show them,” Sorkin asked.
Collins argues that Tether has always redeemed every token for “exactly one dollar.” He adds that the company has the best risk mitigation tactics in the industry. “It has withstood the test of time,” he said.
Even though the investor claims that Tether publishes proof of its reserves, he says that it is fine for people to question the company’s transparency.
Collins, who sold Tether back in 2015, says that the industry is going to become more transparent due to the recent string of failures.
Tether has been one of the most controversial cryptocurrency companies, with critics, widely known as “Tether truthers,” arguing that the company is a massive sham.
Am leschte Oktober huet de CFTC Uklo géint Tether agereecht an ofgeschloss nodeems se d'Firma beschëllegt huet iwwer de Support vum Flaggschëff USDT Stablecoin ze léien.
The largest stablecoin issuer is also the target of a $1.4 trillion class-action lawsuit, which accuses the company of perpetuating large-scale fraud.
Source: https://u.today/tether-co-founder-pressed-on-lack-of-transparency