Tether Holdings Restricted has clapped again at The Wall Road Journal over an article it claims unfold “false data” concerning the stablecoin issuer’s profitability, solvency and accounting requirements.

In a Monday article, the Journal claimed that Tether might be deemed “technically bancrupt” if its belongings fell simply 0.3%. That conclusion was drawn from Tether’s reported belongings and liabilities as of Thursday. One week prior, Tether revealed its newest attestation exhibiting $67.7 billion of reported belongings towards $67.5 billion of liabilities.

The August attestation was performed by BDO Italia, the Italian arm of worldwide accounting agency BDO World. As Cointelegraph reported, Tether employed BDO Italia to extend the legitimacy and transparency of its attestations. Within the course of, the stablecoin issuer upped the frequency of its reporting from quarterly to month-to-month.

“The article seeks to discredit the work that Tether has put into clear and sincere communication to the general public,” Tether said in a Tuesday weblog submit. “BDO, a really respected and unbiased Prime 5 audit agency, will not be a “Tether accounting agency,” as erroneously written by the WSJ.”

Plenty of milking pic.twitter.com/ZBJnmvai9f

— Paolo Ardoino (@paoloardoino) August 29, 2022

Within the weblog submit, Tether refuted the Journal’s claims that its publicity to short-term U.S. Treasury payments is an unsafe technique. Tether additionally clapped again at assumptions that its enterprise is unprofitable:

“Based on our Consolidated Reserves Report, Tether has by no means disclosed any fairness regardless of being worthwhile for a number of years. This identical report has been deemed acceptable by vital stakeholders and it has been accepted by the NYAG. Maybe the WSJ has confused Tether with a few of its rivals.”

Tether fortifies its reserves: Will it silence critics, mollify traders?

Because the crypto market’s oldest and largest stablecoin issuer, Tether isn’t any stranger to criticism. Detractors hav lengthy claimed that Tether’s USDT stablecoin will not be adequately backed by reserves. Others have criticized the corporate’s use of economic paper as backing. On June 27, The Wall Road Journal reported that brief sellers have been “ramping up their bets towards Tether” after the collapse of the Terra (Luna) — now renamed Terra Traditional (LUNC) — ecosystem.