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The lawsuit I cited suggests that two exchanges were actually complicit in the scam - and Poloniex is one of them. Also, since Tether has its bank accounts in
by mamon 6y ago
The lawsuit I cited suggests that two exchanges were actually complicit in the scam - and Poloniex is one of them.
Also, since Tether has its bank accounts in Deltec bank in Bahamas, the inflow of $15B to such a small country would be visible in country's foreign currency balance sheets. The official report from Bahamas government shows that this balance is currently around $60B and has actually decreased during 2020. So this $15B worth of newly issued Tethers are not actually backed by USD (those money never reached Tether bank account), they were printed out of thin air.