Tether releases law firm report confirming existence of a declaration from unnamed bank that attests to 2.5 billion USD in reserves. Oh, and members of said law firm are on the advisory board of said unnamed bank.

> Eugene Sullivan, a former federal judge and FSS cofounder, is an advisory board member of one of Tether’s banks, the report said.

So the unnamed bank sent documents confirming deposits. The law firm confirmed receipt of those documents.

So - the exchange (bitfinex) and tether are in cahoots. The law firm and at least one of the banks are in cahoots. It's just so strange that no legitimate proof of accounting has been provided, and that people are still putting their trust into tether.

One of these things is correct:

  1. Tether and all claims made are legitimate.  

  2. Tether don't actually have the money, but are trying desperately to make it all up before any kind of audit is begun. This is currently fraud but hoping not to be fraud in the future.  

  3. Fraud.

If 1. is true, then you would have to imagine some kind of proof would have been provided by now.