/biz/ - Business & Finance

>>52524973
TWO
WEEKS

>hans, nobody is eating ze bugs...post the thether fud again
>but sir, it's too obvious this is about CBDCs
>shut up hans, and post ze fud

>>52524973
alameda gave dollar to tether and received the tokens, 36billion of them?
what did they do with those tokens?

>>52524973
>14 days

>>52525111
Buy back more tether obviously.

they were a market maker, moving money around back in forth is what market makers do.

Sell everything

>>52524973
>14 DAYS
>TWO MORE WEEKS
>A FORTNIGHT, IF YOU WILL
lmao

>>52524973
I would have moved my 2017 bullrun profits into USDT if it wasn't for Bitfinexed fud, and then I could have bought the whole 2018/19 bear instead of sitting there losing money.
Tether fud fags owe me millions.

>>52525253
you fell for fud because you delegated your understanding to someone else
now you reactively go for the other direction, not because you have any sort of analysis, but reflexively, like a caveman manner
you basically learned nothing. relying on others instead of using your brain, and confusing your wrong timing for wrong facts
tether is a fraud, this is known since 2017
the unknown is when the scam blows up

>>52525526
Tether paid $20 billion worth of redemptions on an $80 billion market cap and remained solvent.
There literally isn't a bank on the planet that could survive a run on 25% of total holdings, but Tether did.
USDT is the most battletested and attacked stablecoin on the planet, Paolo is a chad, and you will seethe for another 5 years like you've impotently seethed for the last 5.

>>52525111
Other way around. They recieved the USDT and then sent dollars to Tether. Think of it working like a loan, but you pay back in USD instead of USDT. It's likely that Tether started calling those loans in around the time LUNA went down

>>52524973
Just in time to suppress link when staking goes live

>Enter tether Fud thread
>Crack open a Lacroix
>Spill it on the floor
>360 degree turn then I walk out

>>52525558
Tether is probably the most savvy and powerful institution in crypto, but they don't work like that. No one is redeeming a fucking thing from Tether, see:>>52525558

The 'redemptions' are just Binance, FTX, etc sending back a loaned asset that they were paying interest on in USD.

>>52525558
Tether is probably the most savvy and powerful institution in crypto, but they don't work like that. No one is redeeming a fucking thing from Tether, see: >>52525567


The 'redemptions' are just Binance, FTX, etc sending back a loaned asset that they were paying interest on in USD.

>>52524973
So Tether doesn't need to redeem over half of USDT they minted while bankruptcy proceedings are ongoing, which is likely years. It's as if Alameda loaned $36B to them at 0% APR. And if Alameda lost some of those USDT or they were stolen, Tether will never need to redeem them for USD at all - that's pure profit.

So how exactly is that going to crash Tether?

>>52524973
and now that alameda is gone they can't crash tether

>>52525712
Alameda can't but Sam can.

>>52525662
This also solves the mystery of where Alameda (and then later FTX) got their initial trading capital from. It certainly wasn't from the fucking 'kimchi premium'.

SBF did the equivalent of taking a loan from the mafia. And of course, to them, it's not so much about the money you owe but the power they have over you. So when Bitfinex and Bitmex are brought to heel, Tether approaches SBF with the proposition of setting up a non-KYC exchange in the Carribean that allows insane leverage trading and runs stops on the plebs... Likely something similar happened with the bot master CZ (then at OKC) and Binance too.

Later on, SBF pulls in a fuckton of VC capital and gets too big for his boots with FTX/Alameda, starts flirting with regulators, his own stable coin, fucking with other key Tether exchanges, etc. So, post-LUNA, Tether calls in it's USDT from FTX/Alameda and CZ administers the coup-de-grace.

>>52525688
tether received 36b total in its history. this is not counting outflows. they dont hold 36b tether

tether fudders will never clarify this ofc, because 36b sounds way scarier than their current holdings - probably 1-2b

>>52525558
This, I slowly started to believe that Tetherfud is unironically a glowie operation

>>52525253
>tether is the only stablecoin there are no other options at all
your poor trades are on you

>>52525782
a bit too curvy, but still nice

>>52525792
retard

>>52525142
Fuck. >>52525558
Ive come around to this. As opague and shady as tether seems, paolo is doing some insane trickery to keep it alive.

>>52525075
Based anon knows

The only ecosystem I'm using right now is Bspin. cause:

>Strong casino with a Bitcoin as the playing currency
>Coming giveaway with $15K Prize Pool
>Huge amount of games, slots, LIVE, spins etc

>>52525730
oh shit you're telling me tethers fate is in the hands of the Bahamian government

Can someone explain to me like I'm a child why Tether even exists in the first place.

I get why Bitcoin exists, but why does Tether exist?
I feel like a whole universe of SHIT has been built upon the concept of Bitcoin existing just to scam and fleece people and pretend there's value in nothing.
None of this shit is even objectively and independently covered anywhere online since most people who DO cover these topics are paid shills, have heavy bags or belong to some competing camp.

Tether fud is peak midwit.

>>52524973
I'm thinking about going all in on XMR
What say you all?

>>52524973
why december?

>>52527386
already done

>>52527287
Tether exists so that you and I can trade a dollar without having to have a bank do this for us, or us to physically meet up.

>>52524973
>Alemeda owns a bunch of Tether
Total bullshit.

>>52527397
Getting ready for tax season

>>52525802
USDT was the only stablecoin with any real liquidity at the start of 2018

>>52527494
Alameda's total liquid crypto assets don't even total up to 1b kek

Tether is definitely insolvent, there is no denying it.

>Tether held sufficient fiat reserves in its accounts to back USDT tether tokens in circulation for only 27.6% of the days in a 26-month sample time period from 2016 through 2018.
>Tether retained an accounting firm to perform a review of Tether reserves on a date Tether selected in advance, and Bitfinex transferred over $382 million to Tether’s bank account in advance of that review.

https://www.cftc.gov/PressRoom/PressReleases/8450-21

The real question is, how insolvent are they? and how long can they keep the scam going?
I think they can keep it going for a long time because they can use user's funds on bitfinex as liquidity.

>>52524973
noob question, why does an exchange crashing cause the assets it holds to lose value?

>>52527947
Because of irrational panic and anticipation of irrational panic. It's speculation but in the opposite direction.

>>52527712
leaking a fake or balance sheet?
the US regulators not wanting to repeat the failure of FTX
some republican populist wanting to get a notch on their cap and bringing it up

revolver did a hitpiece on tether so the issue is now within the conservative
grapewhine, darren beattier plays a core role in the whole alternative rightwing media ecosystem

maybe we will see something on tucker carlson?

>>52524973
>tether crashes
>crypto goes up

>>52527947
because btc has 7tps and everyone who wants to get out of the exchange has to sell it to a faster chain

>>52525075
>fud
How is it fud if people are just straight up in denial? Every idiot thinks they have tens of billions of dollars just sitting around on-site but in reality they're just buying into Chinese real estate. Tether is only worth 1 USD because that's what most people feel it should be worth.

>>52528281
>in reality
i suspect they dont have any reserve at all. tether is a pure free floating fiat and cant be rugged from the outside

funds are safu

>>52527947
Because they have to sell their assets to cover their liabilities. More selling, price drops.

>>52524973
It's all an attack on Tether's credibility. We've seen this before and we'll keep seeing it even when the next CEX crashes. I have enough faith in USDT and that's why I'm confident enough using it as my stable coin choice for staking.

>>52525802
Oof newfag moment. Imagine thinking there was a feasible alternative to tether in Jan 2018

>>52524973
This was the same FUD as the in the late 2018 when oysters (pearl) was supposed to be listed on binance and the founder exploited code and ruined the project. He kept yelling btc was going to $1.5k (was around $4k back then) calling tether collapse any day now, literally two weeks meme. He even got arrested for tax evasion lol.

>>52528991
A based oldfag in the wild, i salute you sir.

Also a minute of silence for all anons that listened to Capslockanon

>>52528948
USDT is available for staking on virtually every staking platform. Where are you staking yours?

>>52529014
Staking mine on the single sided USDT pool on SpoolFI. It's one of the pools with the juiciest APYs on there.

>>52524973
WoaaaaAAAah
You mean minting tether out of thin air had repercussions?
Say it aint so!

>>52529060
So there are several pools to stake on?

>>52529104
You can stake USDT, USDC and DAI and each of these has several pools to pick from.

>>52524973
https://nicolaborzi.medium.com/deltec-the-roots-of-the-tether-house-bank-lie-in-the-history-of-wall-street-9c98de2fef7e

>>52525782
i could see it

>>52524973
>load ze tether fud for the millionth fucking time

>>52525782
FTX not only haad insane kyc, and random compliance freezing of accounts, it also had regulated stock tokens, that binance was threaten to remove 24 hours after they added them and ftx was permitted to have.

>>52527712
Tether was audited last month here is the audit

https://assets.ctfassets.net/vyse88cgwfbl/2xJyKdUKicdRUWpC9buRWR/6fe2987698dbbf39b947af718d736ddb/Std_ISAE_3000R_Opinion_30-6-2022_RC134792022BD0303.pdf

>>52524973
Tethers bank is next door to FTX.
https://youtu.be/3tqInByxOsc?t=88

>>52529416
>FTX not only haad insane kyc
You're either conflating FTX with FTX US, or just outright lying

>>52529979
You couldnt trade on ftx.com without kyc retard

>>52529425
>deltec

>>52530137
Yes you could. There was just a withdrawal limit

>>52530137
Wrong, retard

>>52530666
>>52530258
retards
https://help.ftx.com/hc/en-us/articles/360027668192-Individual-Account-KYC

>>52530951
>FTX were telling the truth about how their business operated
That's a very interesting hill to die on anon. You fucking retard

>>52524973
Ahhh, I think I heard that somewhere in the past. May I say two more weeks?

>>52527287
Because bitcoin didnt scale and failed as a currency

>>52531210
Did you had an account there?

You really needed full verification since they randomly froze level 1 kyc before the withdrawed anything and forced them to do full kyc and they did not accept anything as proof of address you literally had to sent them 2 or 3 things on top of that the app forced you to take live video of you.

>>52525526
now this is premium tier fud, looks organic and speaks to the emotions that the midwits that fall for it live and die by

>>52531210
i dont care if some insiders were able to get in without kyc, for the common person just wanting to trade there they needed to kyc. retard

>>52527287
your actually right, there is no conspiracy, people are attempting to profit. and the truth is you can profit off of all of this dogshit too, but im sure you already know that.

>>52524973
the question we shpuld ask is: WHAT IS CUMBERLAND GLOBAL? WHO ARE THEY? WHAT ARE THEY DOING? CAN THE GO BANKRUPT TOO?

>>52524973
how does ftx issuing tether cause the fall of tether, care to even propose a convincing path to that
ftx was left with only a very tiny fraction of that tether by the time of their collapse so it was just moved about maker like what a market maker:exchange is supposed to do
graphs like these that are purposefully misleading really are a signal of somethin

>>52524973
>https://shitter.com/silveranus/status/
Fantastic souce OP, just sold everything.

>>52528281
>tether is only worth 1 USD because that’s what people feel it should be worth
1USD is worth 1USD because that’s what people feel it should be worth. What’s your point?

>>52531917
he's the legendary sauce for you concerning everything tether related
https://twitter.com/Bitfinexed