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/biz/ - Business & Finance

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4977829 No.4977829 [Reply] [Original]

So, what's going on with this exactly?
Are people still concerned it'll cause cryptomarkets to crash?

>> No.4978038

Idk. Taiwanese authorities should have raided them a long time ago. Taiwanese banks have steered well clear of working with them. Wtf are they waiting for. Maybe they are instructed to wait by (((them))), or maybe they don't give a shit, or maybe they just want the scam to be as big as possible before they pull the plug and try to seize their assets for themselves. Or maybe the people in charge of their economic crime investigation bureaus are taking bribes.

Email the Taiwanese securities and exchange authorities.

>> No.4978049

>>4977829
The concern is that if it is in fact a fractional reserve, it’s going to exponentially affect a market crash scenario, as well as bankrupt anyone holding tethers. Normally I would dismiss this as FUD, but their resistance to provide a 3rd party audit to prove it is not a fractional reserve is concerning.

>> No.4978084

I ran the numbers recently and basically there'd have to be 20x more Tether printed in order for it to reach the same scale vs. crypto as defaulted mortgages were vs. the 2008 credit market.

Tether was 1/20 its current size...nine months ago.