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25656699 No.25656699 [Reply] [Original]

https://www.courtlistener.com/recap/gov.uscourts.nysd.524076/gov.uscourts.nysd.524076.154.0.pdf

>PRELIMINARY STATEMENT

The Bitfinex/Tether Defendants, Exchange Defendants, Potter, Crypto Capital, and Fowler (together “Defendants”) engaged in a far-reaching conspiracy to enrich themselves at the expense of ordinary investors by manipulating the prices of crypto-commodities. The Bitfinex/Tether De-fendants (secretly under common control, including control by Potter, a co-founder and senior executive) offered a so-called “stablecoin,” USDT, that they claimed was backed at all times by an equivalent amount of dollar reserves. But those promised “reserves” were a fiction. In truth, USDT was unbacked. The Tether Defendants (collectively “Tether”) were “printing” it out of thin air and sending it to Bitfinex, a crypto-exchange operated by the Bitfinex Defendants. From there, the conspirators moved billions of unbacked USDT to two crypto-exchanges operated by the Ex-change Defendants (ostensibly their competitors), where the USDT was used to make carefully timed purchases of crypto-commodities whenever prices threatened to fall below certain round-number thresholds, thereby fraudulently giving the appearance of price “floors” in the market. With the ability to directly control crypto-commodity prices, Defendants’ scheme inflated a colos-sal bubble. When the bubble burst, investors like Plaintiffs, who purchased crypto-commodities at artificially inflated prices, sustained significant damages.

>> No.25656728

>>25656699
no

>> No.25656769

>>25656728
Based

>> No.25656822

Imagine seeing bitcoin at 40k USD and you know the crash is coming but you still don't sell

>> No.25656858

>>25656822
imagine buying usd

>> No.25656897

>>25656822
I will hodl until I buy a house in 10 years or so

>> No.25656952

Dropped to 36500 from 40000. What music are you listening to right now?

>> No.25657012

40k is the new 20k.

>> No.25657066

imagine caring about what murican gov does kek

>> No.25657074

>court case amounts to: "I'm sueing because I lost money investing"

>> No.25657125

>>25656822
Imagine not selling BTC and going all in in XRP

>> No.25657168

ok we back faggots

>> No.25657228

>>25656952
Only because the exchanges are all down.

>> No.25657232

>>25656699
tether fud makes my dick hard. that's how you know we bull now

>> No.25657271

schills using tether fud to try and stop the bitcoin train. Kind of hard to launder money on a honest blockchain.

>> No.25657292

>>25656822
Nigger we are 10% on the day

>> No.25657350

>>25656699
The media reporting this has just spent the last half year shitting up the word conspiracy. Conspiracies are now insane and no longer exist, therefore USDT is going to be safe to save face.

>> No.25657363

>>25656822
imagine not hodling

>> No.25657371

>>25656699
Load ze tether fud

>> No.25657451

>>25657012
more like 20k is the new 3k

>> No.25657559
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25657559

It's really over isn't it.

>> No.25657618

>>25656699
tether fud again?

>> No.25657621

>>25657228
Yeap, and Chinese New Year is coming, right?..

>> No.25657690 [DELETED] 
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25657690

>Midwit thinking

Let me explain it to you

>Tether crashes
>Do you hold Tether?
>No you sell Tether for BTC you retards
>BTC price go high

>> No.25657714

>>25657690
based retarded coomer post

>> No.25657745

>>25656699
I cashed out all my crypto besides bitcoin and eth this morning; holding those two on a wallet
I don't give a shit if I'm missing out on further gains. I'm playing this safe
If (strong IF) this tether fud is correct, there's a possibility we'll have a huge correction days before the 15th, and no one can say for sure if it'll dip below 20k or not
Things just seem a little too perfect right now in the market, like the calm before the category-5 storm. Not taking any chances, but good luck to you guys who are riding out this run

>> No.25657782

>>25657690
This
You can't cash your tethers for USD (who the fuck wants USD anyway) so you pile into whatever someone is willing to trade you for your tethers (i.e., blue chip cryptos - ideally). What impact does this have on the price of cryptos that aren't tether? Big think

>> No.25657789

>>25657559
Wtf how. If btc goess sub 20k you should be excited as fuck sad bitch. Doesn't even matter if you lose money just go suck dick to buy more btc eth

>> No.25657809

>>25656699
same thing happened in march 2017. expect a 30% dump then moon.

>> No.25657823
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25657823

>>25657745
You can't even sell this shitshow because shitxchanges are all collapsed.

>> No.25657834

>>25656699
>1 post by this ID.
fuck you.

>> No.25657943
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25657943

>>25657782
>Bitcoin (which moves the entire cryptomarket) has broken key resistances for years only thanks to artificially pushing the demand with printed tether
>smart investors which have all the money are going to be perfectly confident about holding such an asset

pea brain

>> No.25658039

I know stable coins have their own future woes (even besides usdt). If this goes badly, are my usdc holdings safe? Stablecoins can crash too, especially if they are being specifically targeted.

>> No.25658044

>>25657618
It's the same people.
Continuously.

>> No.25658105

>>25657943
>tether 20 Billion
>random companies investing hundreds of millions
hmm

>> No.25658154

>>25657782
>blue chip cryptos
Retard statement there’s no blue chip crypto’s yet not for decades

>> No.25658188

>>25657809
It's like everybody here is brand fucking new. This cycle repeats time and time again, and this time will be no different. Tether FUD will dump the market 25-30% and then the rocket takes off from there.

>> No.25658205

>>25657559
No. We're literally still up 7% on the day lol.

>> No.25658313

>>25656699
Sorry brainlets, civil suits do not change things.

>> No.25658454

>>25658044
I'm pretty sure they are getting paid for it too

>> No.25658608

>>25656699
Never selling shill

>> No.25658657

>>25657451
no that will be 55k

>> No.25658830

>>25656699
2017 tether fud is back. I'm about tear up from the nostalgia, OP

>> No.25659481

What the fuck does harry potter have to do with btc?

>> No.25659838

>>25657745
I don't give a fuck on this tether shit. I read through all these accusations and yes, they're heavy. But simply no one knows how or if at all this will have any effect. But i like to tell you sth else. I came back from vacation, first day at work today. Two retarded boomer colleagues asked me for financial advice on how to buy btc and if it is possible to buy parts of this stock too. Guys don't get confused with analyzing tether address transactions of 2017, because
>the fucking top is in.

>> No.25659887

>>25656699
SEETHE

>> No.25659905
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25659905

>> No.25660717

>>25656699
>at the expense of ordinary investors
nocoiner cope was never this bitter

>> No.25661207

>>25656699
If its going to court now, how have they not got an injunction against them stopping them from doing this UNTIL the hearing finishes? If they have, then theres nothing to fear even if Tether loses as they already stopped the scheme.

>> No.25661301

Can someone explain why if this is so bad - why the 15th? Isn't news to a certain extent priced in?

>> No.25661975

>>25657745
smart man. i have about $7k in LINK(half of a suicide stack), and im planning on keeping it this way until i croak. i imagine LINK is gonna similar wave to ETH, plateau in the mid-hundreds for a while, hyperinflation roles by and sky rockets to the thousands. of course, by then, ETH might be worth what BTC is worth now, but I trust Sergey and I'm going to leave my wallet alone.

Good luck to those of you brave fuckers who are willing to risk taking on the imminent correction.

>> No.25662666

The manipulation has become so obvious but everyone is blinded by greed