The statement, provided Saturday evening by a company spokesperson to CoinDesk, confirms the suspicions of online sleuths and is likely to raise new questions about the company’s finances.
Friedman had been working on an audit of Tether, which has close ties to the cryptocurrency exchange Bitfinex. Critics of the two companies, most prominently the blogger who goes by the handle Bitfinex’d, have claimed that Tether had been printing tokens out of thin air to drive up the price of bitcoin on the exchange.
It is not clear from the spokesperson’s emailed statement who broke up with whom. The statement reads:
“We confirm that the relationship with Friedman is dissolved. Given the excruciatingly detailed procedures Friedman was undertaking for the relatively simple balance sheet of Tether, it became clear that an audit would be unattainable in a reasonable time frame. As Tether is the first company in the space to undergo this process and pursue this level of transparency, there is no precedent set to guide the process nor any benchmark against which to measure its success.”