Tether Hired Former FBI Director’s Law Firm to Vet Finances

•Freeh Sporkin says Tether had $2.55 billion of cash on June 1 •Crypto firm dogged by worries that pile of money doesn’t exist

Tether Ltd., issuer of a digital currency, said its bank deposits of $2.55 billion were confirmed by the law firm co-founded by FBI directorLouis Freeh as the company seeks to reassure investors that its cryptocurrency is backed by U.S. dollars.Freeh Sporkin & Sullivan LLPdidn’t conduct an official audit but had access to Tether’s accounts at two banks for weeks and released data on how much money the company held on a single day, June 1, ...