/biz/ - Business & Finance

>logo is a mushroom cloud

Bitfinex insider here. I have undisclosed information about Tether that, I believe, any defensor of cryptocurrency needs to hear. I'm sharing it here before leaking it onto Twitter.

While FTX's downfall, Bitfinex was on the verge of closing a long-term financial agreement with one of the South American governments with the most patrimony (can't reveal which one because intelligence services could decipher where this leak comes from a lot more easily), after all the drama, it was more than clear that this deal was needed in order to remain solvent on a structural level, hence everyone inside-doors was expecting the results of the final negotiations.

Thing is, this government has also been massively affected by the recent random crash, hence the agreement can't be closed by the moment, and not not only Bitfinex needed the money to remain solvent, but also iFinex Inc and several USDT logistics cells all over the world.

Printing is on the table, but the amount needed to move forward is simply gargantuan enough for EVEN Tether to not do it. From now on, only one of these two scenarios is happening:
1. Tether prints more money in a week than in the whole past year.
2. Bitfinex comes clean about its insolvency.

I don't know the correct move from now on, USDT's hypothetical downfall would clearly dump the whole market to (at least) 3k BTC, and stables wouldn't be safer either since the most important factor for stables (trust) would be completely obliterated after Bitfinex's insolvency.

Please don't post this anywhere else yet, the leak has to be progressive so EVERYTHING gets properly exposed. I'm 100% open to answer any questions.

Bitfinex insider here. I have undisclosed information about Tether that, I believe, any defensor of cryptocurrency needs to hear. I'm sharing it here before leaking it onto Twitter.

While FTX's downfall, Bitfinex was on the verge of closing a long-term financial agreement with one of the South American governments with the most patrimony (can't reveal which one because intelligence services could decipher where this leak comes from a lot more easily), after all the drama, it was more than clear that this deal was needed in order to remain solvent on a structural level, hence everyone inside-doors was expecting the results of the final negotiations.

Thing is, this government has also been massively affected by the recent random crash, hence the agreement can't be closed by the moment, and not not only Bitfinex needed the money to remain solvent, but also iFinex Inc and several USDT logistics cells all over the world.

Printing is on the table, but the amount needed to move forward is simply gargantuan enough for EVEN Tether to not do it. From now on, only one of these two scenarios is happening:
1. Tether prints more money in a week than in the whole past year.
2. Bitfinex comes clean about its insolvency.

I don't know the correct move from now on, USDT's hypothetical downfall would clearly dump the whole market to (at least) 3k BTC, and stables wouldn't be safer either since the most important factor for stables (trust) would be completely obliterated after Bitfinex's insolvency.

Please don't post this anywhere else yet, the leak has to be progressive so EVERYTHING gets properly exposed. I'm 100% open to answer any questions.

What is the best way to buy USDT at market price in the US? Also lets hypothetically say that I buy/sell these so called USDT, is there any issue with MSB laws?