/biz/ - Business & Finance

>>25287949
Priced in.

>>25287987
the absolute cope

they filed it months ago though

Honestly hesitate to liquidate my stack before Jan 15 just in case.

Tether being in trouble would divide BTC price in half for sure. Alts would go to goblin town

>>25288094
What happens Jan 15th?

>>25288123

It's the final due date for Tether to show proof of its USD collateral to the court.

If I'm not mistaken. Not wanting to FUD anything

there have been major correlation with tether pumps and btc recently. regulators should take look at all steable coin balance sheets

>>25288123
Tether has to present documents they don't have to the New York Attorney General.

this will drag out for years
they are just getting to the beginning where the defendant asks for the case to be dismissed and the judge says no we will have to hear the plaintiff's arguments

>>25288180
>>25288201
Fucking finally, this Tether lawsuit meme has been tiresome. It just seems to drag on infinitely.

>>25287949
What happens if tether looses the case?

Interesting find, but it looks like this is the result of an ongoing issue
>9. Counsel also believe that withdrawal is appropriate under Rule 1.16(c)(5) of the New York Rules of Professional Conduct, which states that “a lawyer may withdraw from representing a client when the client deliberately disregards an agreement or obligation to the lawyer as to expenses or fees.”3
>10. Professional considerations require termination of the representation.
>11. Counsel took reasonable steps to protect Mr. Fowler’s interests by repeatedly informing him that there were grounds for Counsel to seek to withdraw and that Counsel intended to seek to withdraw. Mr. Fowler has known since at least February 26, 2020, that there were grounds for Counsel to seek to withdraw. Mr. Fowler has had ample time to find new counsel should he wish to do so.

this is from the latest document....
basically it means they haven't even clarified whether the judge will hear the case or not.
In the end it is very unlikely for the case to be dismissed without the judge even hearing it but it shows how far away any real action is.
will have zero affect on this bull run

>>25288416
Mass selling of tether to btc

>>25288536
Wouldn't that pump the price?

>>25288575

No. In the hypothetical event that USDT collapses, BTC would follow HARD. Real hard.
Like a '40% crash in a day' kind of thing.

>>25288619
Why? If I had some tether I would immediately convert it all to crypto if I saw any threat to usdt...

>>25288619
who would be selling btc for usdt if usdt is collapsing

>>25288681
same reason i'd ask why someone would sell btc for usd while usd is collapsing

If tether crashes would all the capital move to USD Coin?

>>25288667
>>25288681
>>25288728

Because USDT is the main source / entrance to pump BTC (e.g. Bitfinex, Binance, all shitty exchanges). All USDT being frozen / valued at 0 would halt most BTC demand + panic = big crash.

It's not even a question IMO, it would crash if such thing happened.

>>25288485
PRICED IN
R
I
C
E
D

>>25288619
I have $2500 on standby for the flash crash.

>>25288861

Nope

>>25287949
Tether is going to crash to one (1) dollar

>>25287987
Why are bitcoin niggers so fucking stupid? Decentralized finance was just a distant dream. Like a fat nigger running after a chicken wing while on a treadmill, all set up by glowies.

>>25288619
explain why

>>25289044
>>25288835

>>25289031
Hey, please form one sentence without using dead memes

Thank you

>>25288835
Ah I see so you would expect USDT to instantly revalue to 0 as opposed to a gradual selloff where everyone exits the stablecoin. Yeah, makes sense. Thanks.

Is USDC better?

>>25289123

It's a detail, why do you even think it would make a difference on the outcome?

>>25289088
>>>/reddit/

>>25289031
You really are not intelligent.

I know you think you’re blackpilled af but you’re just a fucking idiot. Nobody takes you seriously, I guarantee you are single and talk to less than 5 people.

>>25288485
The background to the case deserves some clarification. US government agencies colluded internationally to simply 'take' nearly a billion dollars from Tether. The NYAG then brought a case on behalf of strawman plaintiffs claiming that - shortly after its money was taken - Tether was undercollateralised. The US government is effectively saying "we can take your money with impunity" and then following up with "kindly show us where the rest of it is". The first action taken by Finex/Tether was to raise more than a billion dollars in less than a month with LEO. They'll now most likely stall for as long as is possible before providing the AG with anything at all. They'll be mindful that it would be more sensible to provide documentary evidence of where money 'was' rather than where it 'is'.

>>25288361
this
chill you pruned brain conspiracists

>>25289088
Quit being a nig

>>25288201
>>25288123
When? Where is the Jan 15th date coming from?

>>25288861
It's not priced in though because nobody even wants to think about it happening

The music is almost about to stop

>>25289869
https://www.coindesk.com/nyag-tether-bitfinex-loan-documents-coming-weeks