In news that will shock anyone who’s been involved in the crypto industry for any significant amount of time, Tether announced last week that it had finally received the audit it had been promising for almost a decade.

While traders celebrated and critics scoffed, the audit, which was certainly a step in the right direction, doesn’t put all the questions involving Tether to bed.

The good, the bad, and the unanswered

First of all, it’s important to recognize that an audit of any kind involving Tether is a notch above the quarterly reserve reports they’ve been provided through BDO Italia.

Think of reserve reports as little more than single snapshots into a company’s financials, while an audit would be more akin…