Former Securities and Exchange Commission enforcement attorney John Reed engaged in a heated Twitter discussion with Tether's CTO, Paolo Ardoino, over Reed's criticism of the company's opaque financial statements and lack of regulatory framework. Despite Tether's latest attestation report, Reed remained skeptical and called for proper auditing. Ardoino defended Tether, stating that the company works closely with authorities and serves unbanked individuals in emerging markets. The discussion ended with Reed expressing concern for anyone using Tether and referencing the company's massive first quarter profits.
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