tether

[Anonymous No.52519444]

The tether fud is back on the menu , what do oldfags think ?

[Anonymous No.52519457]

it's been on the menu since forever and I for one think it's grown stale

I have watched the mold grow on the tether fud and have mold children and their mold children have had children
give it a rest

[Anonymous No.52519476]

>>52519444
Checked. But it’s been DCA time for quite a while now.

[Anonymous No.52519599]

>>52519444
Well at some point it will implode, that is for sure.

[Anonymous No.52520787]

>>52519444
>The tether fud is back on the menu , what do oldfags think ?

It's most probably balance-sheet insolvent based on the bullshit balance sheets they provide. Also, now Alameda is getting busted, we will find out how they got their 38 billion USDT and whether it was loaned to them with zero collateral. Keep in mind that whilst FTX/Alameda was imploding, Caroline prioritized paying back loans, and Tether was burning 4 billion USDT simultaneously. Also, I have a feeling that FTX enabled Bahamian withdrawals just so Delchain/Deltec could withdraw.

[Anonymous No.52521005]

>>52519444
Oldfags like me are burnt out on tether fud
We’ve been hearing it forever
>>52519599
At some point the dollar will implode too
The question that matters for both is when will they explode

[Anonymous No.52521019]

It's not for, it's inevitable

[Anonymous No.52521074]

>>52520787

Keep in mind that tether HQ is just around the corner from Alameda research in the Bahamas

[Anonymous No.52521113]

Is there any stablecoin that isn't corrupt? Holy shit, just stop being jews lmao

[Anonymous No.52521240]

>>52521113
Maker dao
That’s why the glowies go for their developers
Also exposing their pedo ring

[Anonymous No.52521261]

>>52519444
I really don't care. I'm in accumulation mode and expect to be for the next 1-2 years, so any incremental FUD that drives prices lower just means I get a better entry on my biweekly slurps

[Anonymous No.52521308]

Tether Truthers have been wrong for 6 years running. Not a single redemption failure. But two more weeks, rite?

[Anonymous No.52521317]

>>52521240
>I got busted for child porn, and I will have to kill myself. Better come up with something cool and heroic to clear my name

[Anonymous No.52521408]

>>52519444
Zoom in on this nigger's head. That shit looks like he spray painted his hair on. Nigger is bald as fuck with his pink pillow nigger shoes.

[Anonymous No.52521453]

If Tether goes under, Crypto as a whole would too go under.
If you are concerned about this possibility , exit all markets.
IMO USDT fud is just that. Fud.
Nothing more.

[Anonymous No.52521466]

>>52519444
I think Tether must be the most legit stablecoin in the space for how much it is probed and investigated and fudded yet they come up with nothing.

[Anonymous No.52521473]

>>52521240
>Maker dao
You mean the old maker DAO, the new on got infiltrated by Jews.
Its now collateralized by usdc too
*throws up*

[Anonymous No.52521487]

>>52521308
Yeah...it's partly because of their bullshit fud that I didn't sell for USDT in 2018. HODL'd and got rekt.

[Anonymous No.52521861]

>>52521074
>Keep in mind that tether HQ is just around the corner from Alameda research in the Bahamas

Yeah, but it's not like Nassau is a big place; that's like saying JPM HQ is just around the corner from Citi in Canary Wharf. There are quite a few finance-related companies in the same location.

[Anonymous No.52521870]

>>52521308
>Tether Truthers have been wrong for 6 years running. Not a single redemption failure. But two more weeks, rite?

Maybe if Paolo re-opened redemptions to the mere plebs that want to redeem less than 100k, we'd actually see a run on the reserves.

[Anonymous No.52521897]

>>52521466
This, Tetherfud is the lowest and most retarded type of nothingburger ever

[Anonymous No.52521912]

>>52521870
How would people with no money create a run on reserves? Tether can redeem billions in a day but a bunch of poor fags cashing out their $1000 life savings will bring it down?

[Anonymous No.52521962]

>>52519444
Why do these retards think they fool anyone with black dye hairlines with hair fibers and spray painted on their heads? You can easily see he’s bald as hell and those shoes are mid.

Tether FUD has and always will be bullish

[Anonymous No.52521983]

im amazed how long it's survived. Create a 1:1 USD stable coin out of thin air without actual USD backing it. Cool, i guess.

[Anonymous No.52522017]

>>52521983
If there's nothing backing it how have they constantly been able to pay out billions in redemptions without a single failure?

[Anonymous No.52522074]

>>52522017
it works like fractional reserve banking. As long as it's just a few billions, they can pay. If everyone wanted to cash in their tether, it would be first come first serve while reserves last.

[Anonymous No.52522082]

>>52522074
Oh okay. And you know this how?

[Anonymous No.52522137]

>>52522082
"So, is Tether still backed by the US Dollar?

The answer to this question is ‘mostly. In 2019, Bloomberg and other news outlets reported that 74% of Tether was actively backed by the US dollar. This means that it doesn’t have the reserves to ensure that every USDT is fully backed by $1. In fact, it was Tether Holdings’ lawyer who confirmed that each Tether token was backed by $0.74 ‘in cash and cash equivalents’ "
^^^^ that piece of information is from 2020 when tether marketcap was 4 billion. at the moment tether marketcap is 65 billion.

[Anonymous No.52522159]

>>52519444
>>52521466
Thanks to our little banking goblin friend, the anti-crypto types (Bitfinexed, Bennett Tomlin, Frances Coppolla, Dirty Bubble Media, Marc Cohodes, that guy from The OC and his jewish journo friend) as well as a bunch of spectacularly thick BTC-only cultists have briefly been given a spotlight. So now they're going full tilt at all their old nemeses whilst they have a bit of attention. Obviously their dream is to replicate what CZ achieved with his FTX tweet and so turn FTX-Enron into a FTX-Lehman event that destroys crypto forever in the absence of any credible backstop. It wouldn't even work like that- you could burn every current crypto institution to the ground and have an equivalent back in time for the next halving- but that won't stop them from following their sisyphean categorical imperative anyway.

It's been fun watching them all go fucking mental the past two weeks, apparently sat on Twitter throwing mud 24/7 at everyone (Silvergate, Gemini, Crypto.com, even fucking Coinbase and that Twitter shutdown bollocks) in the hopes that some mud will stick and they can do what CZ did to FTX. Ultimately though, not enough people care about what they have to say, normies have lost interest in their narrative already, and if anything ever does come for Tether it won't be the result of Twitter FUD.

If you're that bothered just don't use USDT. If you're super bothered just use a non-USDT exchange like Coinmetro.

[Anonymous No.52522160]

>>52521317
Glow harder cunt

[Anonymous No.52522175]

>>52522017
there isn't a single proof of successful tether redemption in the wild
go on. look for it. you won't be able to find any
the primary "source" for most of these claims was alameda running damage control in 2021. every retard who wants to larp like they're plugged in repeats it mindlessly

[Anonymous No.52522214]

>>52519444
> load ze tether fud
as old as the "china bans crypto" fud

[Anonymous No.52522221]

>>52522137
You can go to their website and see their current reserve makeup. But instesd you find an old quote from years ago when the reserves when a larger part of the reserves were made of commercial paper which btw doesn't mean the tether was unbacked it was just backed by short tern debt, and which they have said they plan to divest from entirely and go to treasuries.

[Anonymous No.52522226]

>>52519444
this time it's real because of coming regulations

[Anonymous No.52522235]

Is it FUD if it's true???

[Anonymous No.52522252]

just a reminder that the biggest tether shills were the ftx/alameda guys

[Anonymous No.52522259]

>>52522175
Look where? I search for "tether redemption" all I find are stories from msm about billions redeemed at tether. Source for your claim (non-schizo, please)?

[Anonymous No.52522274]

>>52522252
more reason to believe the goal of the FTX psy op is to kill tether as a direct threat to USD. Nobody here realizes it, but 'closing your positions and moving into tether' in one hell of a use case and if measured by dollar value, towers above any other crypto currency, bitcoin included. As such, tether is much more of a direct threat to USD hegemony than anything else.

[Anonymous No.52522309]

>>52522274
tether was created by the feds, it's not a threat at all, its goal is actually to dollarize crypto. thanks to tether the whole crypto economy is using usd.

[Anonymous No.52522347]

>>52522175
This "alameda tether were in kahoots" thing sounds like bullshit

[Anonymous No.52522349]

imagine thinking the secret service would let a nobody create a usd pegged stablecoin as huge as tether without arresting him on the spot.

[Anonymous No.52522361]

>>52522309
interdasting, thnks

[Anonymous No.52522363]

>>52522221
>>52522259
Tether claims that it intends to hold all United States dollars in reserve so that it can meet customer withdrawals upon demand. It was unable to meet all withdrawal requests in 2017.[38] Tether purports to make reserve account holdings transparent via external audit; however, Tether never produced an audit showing it had the purported reserve.[19] In January 2018 Tether announced that they no longer had a relationship with their auditor.

Tether has failed to present audits showing that the amount of tethers outstanding are backed one-to-one by U.S. dollars on deposit despite repeated claims that they would.[45] A June 2018 attempt at an audit was posted on their website in June 2018 which showed a report by the law firm Freeh, Sporkin & Sullivan LLP (FSS) which appeared to confirm that the issued tethers were fully backed by dollars. However, FSS stated "FSS is not an accounting firm and did not perform the above review and confirmations using Generally Accepted Accounting Principles," and "The above confirmation of bank and tether balances should not be construed as the results of an audit and were not conducted in accordance with Generally Accepted Auditing Standards."

On September 19, 2022, due to an ongoing lawsuit in New York District Court, Bitfinex and Tether (referred to in court records as B/T), were ordered to produce documents showing the backing of USDT, the outcome of which is still pending.

if they really had the money they claim they have, im sure they'd have produced proofs of it by now. It's just same old "pls trust us, no look into vaults pls, dollars are there i swear!!!"

[Anonymous No.52522382]

>>52522363
They have provided produced proof. Go to their website. Stop schizo posting

[Anonymous No.52522415]

>>52522363
good points. I can see the crypto 'press' (cheerleading squad really) turn away from the subject because everything is tied to tether (used to be bitcoin pairs dominating, long time ago and before tether). So that's how they got/get a pass I assume. Schiff is right to be suspicious.

>>52522349
Rightfully called out the SS (treasury dept). What if the plan is this: whiddle away as much with frauds (perpetrated by the same SS who knows, no rules and anonimity right?) until the American public's exposure to crypto is low enough for them to pull the plug and rug Tether?

[Anonymous No.52522424]

>>52522382
not a proof. this is a proof, paxos gives the cusip number of the ust:
https://paxos.com/wp-content/uploads/2022/10/BUSD-Monthly-Stablecoin-Reporting-October-2022-1.pdf

[Anonymous No.52522460]

>>52522424
So you're saying the auditors are liars? Do they have a history of lying? If tether did that would you then finally admit it was backed or would you find some other conspiracy angle to use?

[Anonymous No.52522467]

>>52522415
i think it was just a cbdc experiment, they could study who uses it and how, and when. they'll rug it when needed

[Anonymous No.52522474]

>>52522382
Yeah, i know that they claim to be 100% backed, but not a single outside audit can confirm this for some reason.

[Anonymous No.52522551]

>>52522460
they had 6 different auditors, usually a sign that there is something wrong.

>"The reporting date is limited to a point in time as of 30 September 2022. We did not perform
procedures or provide any assurance at any other date or time in this report"
tether seems to be doing exactly what crypto exchanges are doing, just making sure everything seems ok the day of the audit only. let them have random audits and they're fucked

[Anonymous No.52522555]

>>52522474
Are the companies they hire not "outside"? Another conspiracy angle

[Anonymous No.52522556]

>>52521317
pig fucking kike

[Anonymous No.52522569]

>>52522551
Why is that a sign something is wrong? Can you back that up? They publish reserves daily. You're saying they get everything in line for their regular audit, but between their actually putting out false reserve info on their daily snapshot? And the auditors never notice?

[Anonymous No.52522573]

>>52519444
>major /biz/ thing happens
>tourists come to /biz/
>week 1: btc is so stupid lmao
>week 2: tether is so stupid lmao
>week 3: they're gone
We go through this multiple time a year now

[Anonymous No.52522588]

>>52522555
soo.. where are these said audits?

"Tether Promises Audit Following WSJ Criticism
by
Mike Dalton
Aug. 30, 2022

Tether says it hasn’t been audited but plans to do so.

Tether published that statement in response to an August 27 article from The Wall Street Journal, which noted that the firm has promised an audit since 2017 but has not delivered."

out of all things in the internet you chose to defend TETHER..? WILD

[Anonymous No.52522650]

>>52522588
You're word thinking. They have had an atteststion. Which means accountant went over their books ie audit them and said that everything is legit. What exactly are they asking for when they say "audit" that's different from the atteststions that are being done by independent accounting firms, who stake their reputation on the atteststions being true

[Anonymous No.52522686]

>>52522569
>You're saying they get everything in line for their regular audit, but between their actually putting out false reserve info on their daily snapshot?
that's likely what's happening, also report != audit
https://keydifferences.com/difference-between-audit-report-and-audit-certificate.html

[Anonymous No.52522699]

>>52522650
>assurance opinion

[Anonymous No.52522741]

>>52522699
Yeah I'm sure they're lying and the company issuing the report does it all the time. It's not guaranteed so why not just make it up?

[Anonymous No.52522802]

>>52522650
i quickly read that BDO investigation, and im not convinced. It said:

"Tether's reserves consist of U.S. Treasury bonds and commercial paper, which refers to short-term debt issued by companies.

The token has $8.4 billion of commercial paper and plans to reduce its holdings to $3.5 billion by the end of July, according to a statement.

The company aims to reduce its commercial paper holdings to zero, in a bid to address concerns about the quality of assets underpinning its token amid the crypto market meltdown."

Their plan is to have have 0 cash reserve??? Tether is basically backed up debt and loans according to BDO.

[Anonymous No.52522842]

>>52522802
Commercial paper is debt. They're moving to treasuries which is also debt but highly liquid and stable. These things can be sold for dollars on demand in high quantity which is how tether can redeem billions in a day. They don't need to keep dollar bills under the mattress

[Anonymous No.52523131]

>>52519444
Obvious fraud that propped/props the entire market

[Anonymous No.52523372]

>>52519444
USDT isn't dying. Almost every exchange has a trading pair of it and other coins. It also operates on almost every blockchain in the world. I was surprised to learn USDT is also on polygon, and it was integrated by a crypto payment service for cheaper fees compared to ETH.

[Anonymous No.52523756]

>>52522802
junk bonds I bet

[Anonymous No.52524218]

Tether intentionally puts out this fud so people short it and they get to collect 7-14% apr from dumb money. Don't fall for it. They're mostly in US treasuries.

[Anonymous No.52524389]

>>52522082
It's literally a for-profit organization retard. They pay their expenses and make money by lending out their reserves. I think they're solid enough

[Anonymous No.52524576]

>>52521466
It has stood the test of time; USDT and USDC are definitely not going anywhere soon and that's why I opted for them as my stable coin holdings and earning yields too.

[Anonymous No.52524858]

>>52524576
What yields are you talking about?

>>52524218
I'm beginning to think this is true.

[Anonymous No.52524900]

>>52519444
its not a fud, tether is backed 3% at best with real money
the question is only when its made official

binance should do away with all stable coins and put a "default dollar token"
on their charts as placeholder that can not be cashed out, operational
that is what tether does other than inflating crypto with counterfeit money

[Anonymous No.52524944]

>>52522802
so tether got a backing of 10% maximum
it can likely be crashed by 100-1000 million
and an attempt to witthdraw it

[Anonymous No.52524960]

>>52524858

There are some ways of shorting tether by borrowing on defi but it's expensive, and with interest rates up, tether is literally printing because at 70B mcap, they get $3B a year for free. This is because if Tether buy short term US government bonds with the USD they've been given for tether, which pay about 3%, and they don't pass any of that on to the holders of tether, they just keep the interest.

JL is a very smart guy, he's not going to 'give up' his money printer by doing shady things at this point in time (there was a time when he definitely was doing it).

[Anonymous No.52524991]

>>52521240
Why is it Twitter fags always get fucking wild with human traffic sex rig, it gets throw around more then a 12 year old screaming nigger when losing in COD

[Anonymous No.52525109]

The cartels and US govt black book budget are keeping tether afloat. We're safe.

https://www.revolver.news/2022/11/sam-bankman-fried-ftx-on-steroids-is-cryptocurrency-tether-joe-biden-crypto-bcci/

[Anonymous No.52525740]

>>52524944
You are mega retarded we had a run on tether this year of wax more

[Anonymous No.52525800]

>>52519444
Tether collapse is a matter of when not if. They seem to have ingratiated all the major players, so whilst other crypto collapses have been caused by whales (like CZ on FTX), Tether is unlikely to every come under internal crypto-world attack, it will be a government that knocks the cards down from the outside.

[Anonymous No.52525845]

>>52525740
>we had a run on tether this year
by 2 entities: alameda and cumberland