[SpicyLemonZest]

You're right that Tether claims they could not previously get an audit and need the government to smooth the way (https://www.reuters.com/technology/tether-is-talks-with-big-...), but why would that be the case? Companies get audited all the time. Tether seems to have their own "conspiratorial trutherism" in mind, where the Biden administration secretly told all the major audit firms that they mustn't allow Tether to be audited because that might make crypto look good. And even that doesn't explain why they couldn't get an audit from 2017 to 2020.

To me the obvious explanation is that they would not pass an honest audit, and hope having the CEO of their primary brokerage in the Cabinet will help them cheat.

[tim333]

Tether's main problem is money laundering regulations, probably not so much not having the money.