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SEC Fines Tether’s Former Auditor $1.5M for ‘Improper Professional Conduct’

https://decrypt.co/110604/sec-fines-tethers-former-auditor-1-5m-improper-professional-conduct

If only Tether finally collapsed. It would be good for bitcoin and crypto.

Generated from TLDR This:

The U.S. Securities and Exchange Commission has fined Tether’s former auditing firm, Friedman LLP, to the tune of $1.5 million, according to an order issued Friday.

The regulator found the accounting firm engaged in several instances of “improper professional conduct” in its audits of two companies from 2017 to 2020.

While the order doesn’t mention Tether outright, the stablecoin issuer retained Friedman LLP as auditor from May 2017 to January 2018 before ending the relationship.

Tether’s dollar backing Tether’s financial activities have been under probe for some time, driven in part by the company’s insistence that the composition of its reserves is commercially sensitive in such a competitive market.

Tether and Friedman LLP have not responded to requests for comment at the time of publishing.

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And believe me: it is dangerous.

Snapshots:

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