If there is nothing shady going on, then why wouldn't they want to share these documents? Are these trade secrets or something similar?
https://www.centre.io/usdc-transparency
> Top five accounting services firm Grant Thornton LLP issues attestations each month on the US dollar denominated reserves that back the USDC tokens in circulation.
Same for BUSD:
> A top auditing firm will attest to the matching supply of BUSD tokens and underlying U.S. dollars on a monthly basis.
Attestations are not audits, in significant and important ways.
Tether.to lists a US address and phone number. Their ip returns a cloudflare ip in California.
They are definitely subject to US law. Pretty sure the US could do things like have them arrested in their home countries, extradited, have their bank accounts seized, etc. I suspect the US could also seize all US dollars without the consent of any foreign nation as well, seems like a natural way to defend a currency. Hard to claim you're backed by US dollars in that case.
Where?
>Their ip returns a cloudflare ip in California.
Cloudflare uses anycast. Their IPs don't have a single location.
Playing devil’s advocate, their users clearly don’t care if they’re backed. As such, they’re running a hedge fund with zero cost of capital. Those typically have good reasons for treating their strategies as proprietary.