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RE: Tether gets cleared of wrong doing (mostly) and markets hardly react...
Like I said in my post, this report isn't going to do anything to satisfy the Tether critics.
There are a hundred ways to game cash balances that a team of lawyers who are not accountants wouldn't pick up on.
FWIW, I don't think the law firm would bother to lie about their findings. I just think they aren't auditors so their conclusions aren't that reliable.
While that is true, the fact that they have $2.5 billion in cash in bank accounts is better than nothing, which doesn't seem to be what some critics are saying. Even if they got that money in less than legit ways, that money is there now, and the fear of some form of systemic risk stemming from billions of unbacked tethers floating around now goes away.