Tether Update released a Transparency. According to a commissioned FSS-Report of Stable Coin is covered, therefore, to 100 percent. To prove this, officer, Tether is an independent law firm from the USA.
In crypto circles was challenged, whether the Tether has sufficient funds to cover the offered Coins. As well from the current “Transpareny Update”, will be given a hundred percent coverage.
The announcement of the Tether reads to the effect as follows:
“To lay to possible allegations, we want to make some things clear: All of the outstanding Tether are fully covered by US Dollar reserves. Point. Releases, reports, leading institutions of the industry, cryptocurrency pioneers and competitors have confirmed. The reserves have always, and will always correspond to the number of circulating Tether.“
The company that you have worked in collaboration with Bitfinex with regulatory authorities, banks, government authorities and law enforcement together. Continue to emphasize the transparency, seems to be based on all your operations:
“All the existing Tether as well as the transaction histories are available to the public within the meaning of the Tools, the Omniches.info and ether scan.io.“
The FSS Report confirms coverage of Tether
In order to prove that the Stable Coin is covered one hundred percent by US dollars, gave it to Tether a US law firm, Freeh, Sporkin & Sullivan, LLP (FSS) to verify this. This firm relies on high-profile members of the US-American legal system – including a former FBI Chairman.
The report, reviewed the FSS, among other things, compliance with Anti-money laundering legislation, the Anti-terrorist financing regulations and all financial transactions of the Tether.
The now published report, and it confirms that all the since 1. June 2018 issued by Tether, which are in circulation, and the US Dollar are covered.