John Reed Stark, a former U.S. Securities and Trade Fee (SEC) lawyer, has raised severe considerations in regard to the fashionable cryptocurrency Tether, accusing it of being a “counterfeiter.” In a sequence of tweets, Stark criticized Paolo Ardoino, the CTO of Bitfinex, the corporate behind Tether, for failing to supply clear operations and suggesting that utilizing Tether is dangerous because of a scarcity of oversight and regulatory measures equivalent to audits, inspections, and insurance coverage.
Stark went additional, to state that Tether’s follow of utilizing attestation reviews as proof of their monetary stability is deceptive and unethical.
