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Questioning Tether’s Deficit: Updates

Some numbers over at Tether haven’t been adding up. Tether last released their redacted report in September 2017. Their supply at that point (from the report) accounted for was $442,984,592. Earlier, at the time of the hack from November (around the 19th), there was a total of $644,841,161 in coin supply, making a gaping difference of $201,856,569 in total circulating supply between the hack and September report. Since the day of the hack, there has been continued issuance to the current peak of $814,393,348.25, making the complete non-audited funds which appeared without a clear statement or proof of solvency total $371,408,756.25.

In a typical situation similar to this, there would be a given amount of leeway for this kind of issue, but the growth is huge. A total growth of $169,552,187.25 in the days following the hack occurred, raising suspicion to the already skeptical group. To settle any future suspicion, a public release containing audited information is needed for proof of solvency to be determined.

To date, no further information has been released by Tether to the public in reply to the situation. This article will be updated as updates are published.

Devin :