Tether backs their fake money that is used to pump Bitcoin with Bitcoin

[Anonymous No.56620098]

What an insane fucking scam
If you look at the latest transparency reports from Tether you'll noticed they started buying Bitcoin in massive amounts

Yes the fake chuck e cheese pretend dollars that pump Bitcoin are backed by FUCKING BITCOIN
Wrap your head around this

>inb4 muh central banks do this with gold
Central banks are government agencies and gold is a real store of value asset, not the same

Tether is a SCAM

[Anonymous No.56620112]

>>56620098
you would've noticed*

[Anonymous No.56620113]

>>56620098
thanks for trying to save my money internet stranger. he does it for free!

[Anonymous No.56620114]

>>56620098
Welcome to /biz/

[Anonymous No.56620115]

>>56620098
it is absolutely brilliant
you pump BTC with tether, and that BTC is now worth more tether that you use to pump BTC
it is just unstoppable

[Anonymous No.56620119]

>>56620098
2017 called they want their FUD back

[Anonymous No.56620152]

>>56620098
>Tether is a SCAM
Yes and?
What are you gonna do about it?

[Anonymous No.56620231]

>>56620098
keep seething you libtard nigger piece of shit

[Anonymous No.56620258]

So 1.66B in of 86B is backed in BTC... Shit this is about a million times better than I would've expected kek

[Anonymous No.56620266]

>>56620119
Tether wasn't backing their fake pretend internet chuck e cheese dollar tokens with buttcorns in 2017 you absolute cretin

[Anonymous No.56620290]

they have a large portion in precious metals. is it physical or a metals etf??

[Anonymous No.56620310]

nothing makes me happier than all the late adopters and sidelined midwits seething about tether
you blew your one and only chance, there's no coming back for you.

[Anonymous No.56620318]

>>56620098
>>56620112
>>56620113
>>56620114
>>56620115
>Tether is fake and gay

imagine being shocked by this

it is a ticking time bomb and everyone with a 3 digit iq knew this already

[Anonymous No.56620421]

>>56620318
>t. the quintessential midwit

the only thing that matters is number go up. you only need a single 2x to completely remove all downside risk forever.
>buy link at $6
>sell half your link at $12
>now you cant ever lose money in crypto regardless if tether is a scam and satoshi is a scammer

if you cant find a single 2x in a fraudulent market that's being pumped with fake money then there's no hope for you.

[Anonymous No.56620508]

>>56620098

>load ze tether fud

[Anonymous No.56620511]

>>56620421
>if you cant find a single 2x in a fraudulent market that's being pumped with fake money then there's no hope for you.
Ponzinomics 101

[Anonymous No.56620536]

>2% OF THEIR RESERVES ARE IN THE BEST PERFORMING ASSET OF THE DECADE!!! >:0
When will this FUD die holy shit.

[Anonymous No.56620554]

>>56620536
Is it really the best performing of the decade?

[Anonymous No.56620574]

>OH MY GOD 2% OF TETHER IS BACKED BY BTC SELL SELL SELL
God I love the Bullrun

[Anonymous No.56620609]

>>56620115
This. It unlocks the infinite money glitch.

[Anonymous No.56620651]

>>56620098
I see the Asset side, now what are their Liabilities? Pretty sure they're overcapitalized with USD assets alone at this point, even if they were short and shady about it in the past.

[Anonymous No.56620992]

>>56620258
Yeah wtf is going on? I used to be a hardcore Tether truther but this audit has me confused. They're legit?

[Anonymous No.56621024]

>>56620992
Where is tether registered as a company?

[Anonymous No.56621081]

>>56620115
mathematically perfect

[Anonymous No.56621206]

>>56620258
>>56620992

>56B in Treasury Bills bought at lower rates
They have billions in unrealized losses, hope we dont have a market crash and liquidity crisis, because its gonna be over

[Anonymous No.56621254]

>>56620098
I didn't Tether up when Justin Sun live streamed from his fap dungeon, because I believed the Tether implosion was only 2 more weeks away. Fool me twice, you can't fool me again

[Anonymous No.56621307]

>>56621206
This is the real issue

[Anonymous No.56621366]

>>56621206
Treseaury "Bills" means less than 1 year duration. They can't take a loss on those unless they are forced to sell them today.

>>56620098
They claim an excess of ~3 Billion in terms of assets vs Tethers outstanding. So the 1.6 billion in Bitcoin could go to 0 and they'd still have a margin of safety.

[Anonymous No.56621472]

>>56620992
>They're legit?
Probably as legit as a legit bank (which will end up closing and stealing your money even if it's legit)

[Anonymous No.56621478]

>>56620554
Yes, what fucking point are you trying to make? I was trying to be modest instead of saying best performing of the century or millennium or something stupid but here you are trying to poke holes in it anyway. Post your shorts if you're so confident faggot- oh wait, you aren't shorting because this has been parroted for 7+ years and will never amount to anything. Do you ever wonder why you're poor and when things will change? I have answers for you, you'll be poor forever because you're too focused on being contrarian or le smartest guy in the room instead of just investing reasonably.

[Anonymous No.56621484]

>>56621472
kek

[Anonymous No.56621656]

>>56620992
Of course they're legit. How could USDT possibly hold its peg so well if whales were in any doubt whatsoever of it being fully backed?

[Anonymous No.56621694]

>>56621656
I mean tether is cute and innocent.

[Anonymous No.56621736]

>>56620098
>Central banks are government agencies
Does someone want to tell him

[Anonymous No.56621756]

>>56620098
You made Tether look legit with that transparency report
REMINDER
>Effective March 26, 2020, the Board reduced reserve requirement ratios on all net transaction accounts to zero percent, eliminating reserve requirements for all depository institutions.
>The Governing Council of the European Central Bank (ECB) today decided to set the remuneration of minimum reserves at 0%. The change will become effective as of the beginning of the reserve maintenance period starting on 20 September 2023.
When the fiat system collapses you will LOSE EVERYTHING!

[Anonymous No.56621778]

>>56621756
just FYI, they will be first capital controls etc, there is a lots of way for them to print their way out

[Anonymous No.56621812]

>>56620098
>oh no $2B of the $86B backing is in bitcoin
>meanwhile $56B of fictional US bills and $9B of fictional repos don't bother opee one bit
lmao
i love when normalfags try to understand fraud

[Anonymous No.56621867]

>>56621812
yes and you do have political risk, biden administration could just do an executive order and void the bills

[Anonymous No.56622010]

>>56621656
there is no whales redeeming tether, they lost all their bank relationships. maybe just bitfinex can redeem some. the only one who assured us they could was... sbf. whales use usdc to cash out. it holds its peg because if everybody believes it's 1:1 then it holds true.

[Anonymous No.56622030]

>>56620098
Our entire existence is a scam and you are not complaining about that. Why you retards only so fixated on tether

[Anonymous No.56622035]

>>56621206
why do they refuse to give the cusip number.
with tether, it's: trust, dont verify.

[Anonymous No.56622522]

>>56620098
>goldcucks seething again...
>check gold price
>dumping hard while bitcoin pumping hard...
>like clockwork
an intelligent person would learn and adapt to reality, your ilk chooses to double down and seethe at the winners.
stay mad faggot, ngmi

[Anonymous No.56622568]

>>56620098
So less than 2% of their holdings are Bitcoin. They have significantly more than 102% in holdings to back the USDT, so 100% is still backed by low-risk assets.

The Tether fud is just stupid and gay. The absolute worst case scenario is that it's only backed like 80-90%, but that is pretty unlikely.

[Anonymous No.56623105]

>Tether is backed by Bitcoin
Holy bullish. Imagine if Tether was backed by some garbage scam like dollars.