/biz/ - Business & Finance

I know USDT is a ticking time bomb.
Pretty sure they're manipulating the market.
It's also been connected to drug cartels.
So fucking what?

The petrodollar is propped up by a protection racket in the form of global terrorism.
Fractional reserve banking is a blatant scam, forbidden by biblical law. There's even a literal pyramid on the dollar.
Tether is nothing in comparison.

*coughs*

Are we just going to pretend this went away?

>>13539757
tethered up whales are exiting into bitcoin, since it's days are numbered.
many whales are not on board with altcoins, including ether.

ETH will make a comeback when the infrastructure is ready to fundamentally change the economy (it isn't). It can't survive on pure speculation like bitcoin can. BTC will always be the speculative rallying point. Like it or not.

you can't make this shit up

One of the largest and most controversial cryptocurrency exchanges Bitfinex received a big hit in Poland today - PLN 1.3 billion at the Cooperative Bank in Skierniewice was seized by the prosecutor's office . The money is to be linked through the Bitfineks network of companies and the Colombian drug trade.

Online investigations linking companies with accounts at the Cooperative Bank in Skierniewice with Bitfineks appeared already last year . Bitfinex is controversial - this stock market has long been suspected of speculating cryptocurrency prices and pumping bubbles. US regulators are also researching the Tether currency created by Bitfinex, which is related to the value of the one-to-one dollar and is used to buy other crypts.

On April 6, 2018, Zbigniew Ziobro was successful in taking $ 270 million. associated with fraud, people whose names appeared in Panama Papers and companies that are pillars of the "large foreign cryptocurrency market". The accounts were to be located in a small Polish bank.

Our unofficial information shows that it is about Bitfinex. The Polish prosecutor's office has not raised any charges yet, and due to the international dimension of the case, the Central Investigation Office cooperates with Europol and Interpol.
only tears now

The walls close in, the shadows whisper of conspiracy!

It feels like they are trying to buy time by preventing the USDT price from dropping any further. If that's the case they are most likely using their BTC reserve to buy them time for the inevitable. Last time I checked, Bitfinex had a shiton of BTC just lying around~ 1.5 billion dollars worth. Whether they wanted the news that their auditing firm got canned or not, it appears the Tetherbomb might go off sooner than most of us had previously thought