The latest Weiss Cryptocurrency Ratings have been released in recent days, with a warning detailing the red flags that are associated with the Tether Project. As Tether is such an important part of the processes within the digital currency marketplace, the warnings come as a surprise, but are worth investigating further.

Tether is issued as a US dollar backed cryptocurrency, on a one-to-one ratio, and in terms of volume it is the third-largest cryptocurrency, due to its being used in the majority of pairing exchanges along with Ethereum and Bitcoin. So it\'s clear that Tether is a pretty important part of the entire industry, yet as the Weiss report states, there has never been an audit of the company.

Despite claims that it is backed by the US dollar, there is no clear evidence to suggest this is definitely the case. Weiss also stated a number of other worrying facts about Tether. This includes the points that it is the only digital currency with a trading volume exceeding its market cap; that this volume of money, and the amount that Tether is relied on as liquidity within the marketplace, is a danger should it turn out to be a fraudulent operation.