If Bitfinex was publicly held, they'd have to file an "auditor changed" statement with the SEC, and the auditor also has to file a statement about what happened. That's to prevent companies from switching auditors when they don't like the audit findings. But Bitfinex is private, and the SEC is about protecting shareholders, which Tether holders are not.
Tether will probably collapse in the next big downturn. That's when Bitfinex has to spend real money to buy Tether units back to prop up the price. Tether, like a Ponzi scheme, seems to work as long as net inflow of money exceeds net outflow. When it doesn't...
The point of Tether, afaict, is to make a bunch of people bagholders while the folks running it walk away with both the cryptocurrencies and whatever bank account balances they managed to acquire.
Tether will probably collapse in the next big downturn. That's when Bitfinex has to spend real money to buy Tether units back to prop up the price. Tether, like a Ponzi scheme, seems to work as long as net inflow of money exceeds net outflow. When it doesn't...