Tether is firing back against a Wall Street Journal report that says it had inadequate reserves for its stablecoin, according to a blog post.
-The article, titled Tether says Audit is Still months away as crypto market Falters, critiques Tethers openness about its finances and its reserves.
-Tether says The WSJ made unsubstantiated conclusions and that The article had been trying to discredit The work Tether had been doing to have transparent, honest communications.
-it says BDO isnt a Tether accounting firm as The report said, and that The firm would be able to keep its access to any needed information, and Tether would keep sharing attestations.
-Tether decried continuous attempts by The media to disparage its reputation and that of top-ranking firms like BDO that are working with digital Asset companies.
-Tether accuses The WSJ of having an agenda, saying The critiques of its reserves could apply to other stablecoins on The market, too.
-The company said assuming its business is unprofitable is false.
-and Tether said it had been transparent about The fact that it hadnt had an Audit yet and was working to get one.