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File: 166 KB, 1214x496, Tether Truth Offtopic.jpg [View same] [iqdb] [saucenao] [google]
29657214 No.29657214 [Reply] [Original]

>Back on 1/20 Tether had to prove to the NYAG that their USDT was backed 1:1 or else it becomes a federal RICO trial
>on 1/20 they manage to kick the can down the road to 2/22
>2/22 the case is over with 3 major takeaways
1: NYAG found that USDT has been completely unbacked dating back to 2017 and as recent as 2020
2: Tether now has to regularly report audits to the NYAG
3: All USDT trading banned in New York
>NYAG has enacted their FULL power by banning USDT in NY and requiring audit reports
>The next audit NYAG pulls on USDT will find that they are unbacked still (they never had the assets to begin with)
>This event will trigger the original 1/20 conditions, case elevation to federal RICO. gg no re

This is enormously bearish.
It's not over.
USDT is on borrowed time, or they enjoy being dragged into court and are just playing games.
You decide.

Sources:
https://ag.ny.gov/press-release/2021/attorney-general-james-ends-virtual-currency-trading-platform-bitfinexs-illegal?ref

>> No.29657349

Dude don't spoonfeed these retards.

>> No.29657453

jannies unironically ban any fud real or not
fucking jannies trannies bagholders

>> No.29657491
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29657491

>>29657349
Doesn't matter. They're just going to call me a nocoiner and tell me to cope. I'm posting this so I can rub it in when it happens.

>> No.29657589

>>29657453
If this thread gets nuked I'll post it to spite jannies

>> No.29657697

delete
stop giving these retards a last warning

>> No.29658025

op delete thread please just let me screenshot and post when the market dumps

>> No.29658079

how can I profit from this?

>> No.29658089

>>29657214
Are you a fucking full blown retard? Can you read?

>> No.29658157

>>29658079
Figure out which tokens are safe if the entire market lost confidence in BTC all at the same exact time.

>> No.29658195

so when is the next meme date where everything ends bobo? and then when nothing happens, what will the next meme date be?

>> No.29658278

>>29657214
Wow you got fucking banned for that post? I thought jannies worked for free- not paid by bitfenix Hong Hong ltd

>> No.29658286

>>29658157
none, every coin is indirectly pumped by usdt

>> No.29658297

>>29658157
When this fud article was released, everyone rushed in to BTC you dumb dumb

>> No.29658521

>>29658278
ifinex ching chong lyd (little yellow dick)

>> No.29658690
File: 1.79 MB, 480x270, giphy (1).gif [View same] [iqdb] [saucenao] [google]
29658690

>>29658278
It's telling, right?

>>29658286
Figure out which tokens are about to be regulated; also any blockchain or DLT that is already being used for CBDC production. Those are the safe ones.

>>29658297
Because a majority of the market is retarded. They saw Tether settled and prematurely declared victory. Unfortunately it's just the calm before the storm.

>> No.29658784
File: 420 KB, 851x767, 54D291C1-6558-4198-9C64-82FC6883D151.png [View same] [iqdb] [saucenao] [google]
29658784

>>29657214
Dish issh exteimly beaRish

>> No.29658834
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29658834

The vast majority of crypto users in the United States do not use tether. Yes, people have been paying $57k for 1 bitcoin without ever touching a single tether. I understand you are schizophrenic, but this is really not something to worry about, nor is it something you can convince hodlers to be worried about. It’s just another small fud in the road.

>> No.29658856

>>29658690
yeah but the price could still drop by a factor of 10 because of how much usdt has been pumped into them
so you'd be better of not holding them until the dust settles

>> No.29658909

>>29658690
listen dumb dumb, I just said they saw fud and rushed to sell their tethers for BTC. i.e thinking their tethers might be worthless. and BTC pumped.

How is that hard to understand? Tether getting absolutely cucked would be a net positive for BTC.

>> No.29658976
File: 12 KB, 407x129, teth.png [View same] [iqdb] [saucenao] [google]
29658976

>>29657214
okay nerd

>> No.29658977

>>29657214
i believe you. does anyone know when the next audit is?

>> No.29659015

>>29657453
>jannies ban fud
thanks for the laugh

>> No.29659114

>>29658157
>BUSD
>/Thread

>> No.29659235

>>29658834
NOBODY USE TETHER

>> No.29659314

>>29657214
What about USDC and other stable coins? Are they backed by anything?

>> No.29659437

This is nocoiner cope.

>> No.29659503

You people have been saying the exact same thing for 4 years by the way. Try something new.

>> No.29659536
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29659536

>>29658834
pic related.

>>29658856
Either the entire crypto market dies, or the money flows to a new (see: regulated) 'store of value'. Place your bet.

>>29658909
Listen chief, allow me to spoonfeed you the tether scam:
>Tether inc gets loan from bahamas bank that they're majority shareholders in
>use that loan to print USDT
>buy a massive amount of BTC with that USDT
>starts a pump
>sell off the BTC to pay back the loan
>store the remaining BTC and say its "backing" the USDT
It's a ponzi with extra steps. Everytime BTC crashes, Tether prints 300 billion USDT and theres a huge V-shaped recovery.

>>29658977
Quarterly audits. However if they can prove that USDT is being used by anyone in New York between now and the next audit, it will trigger the RICO investigation all the same.

>>29659314
USDC is regulated and backed 1:1 with USD. They also submit regular audits.

>> No.29659659
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29659659

>>29659503
>You people have been saying the exact same thing for 4 years by the way.
Oh wow you don't say

>> No.29659916

>>29659659
I promise you it will never be the catastrophe you think it will be.

>> No.29660015
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29660015

>>29659916
>a market bubbled propped up by counterfeit money will not lead to a bloodbath

>> No.29660022

>>29659916
That's wishful thinking, maybe it will not be as big as we think, but it will definitely have an impact :)
Be fearful when others are greedy...

>> No.29660105

>>29658157
Bullish for eth

>> No.29660246

>>29657214
yeah and the federa reserve yesterday revised us m1 from 8 trillion to actually over 18 trillion since last last may (oops). kys and stay poor wageslave retard

>> No.29660275

>>29657214
What is this? Actual information on biz?

>> No.29660360

>>29660105
Hardly. USDT is an erc20 token. It will harm confidence in Eth as well as erc20s in general. Gas fees and tx times will skyrocket as everyone tries to exit.

>>29660246
>comparing legal and sanctioned counterfeiting to illegal counterfeiting
oh sweet summer child. I'm sure your japanese magic internet token will topple the global banking cartel one day.