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There have been a lot of accusations about the Tether/ Bitfinex relationship, and whether or not they are illicitly manipulating the bitcoin market. Considering

by 40four 6y ago

There have been a lot of accusations about the Tether/ Bitfinex relationship, and whether or not they are illicitly manipulating the bitcoin market. Considering the unprecedented bitcoin rally, the fact that Tether 'printed' 2 billion coins last week, and the rapidly approaching court date with the New York Attorney General, I found this article very informative. I think the writing is good quality, nice to read. And it provides a detailed overview of the whole situation, and the history of how Tether came to this point.

f430 6y ago
> rapidly approaching court date with the New York Attorney General OH MAN! I thought they settled already but I guess this is still on going. Do you have more details on this? I really think Bitfinex's defence is very weak and they could be charged with wire fraud and money laundering. If what I hear is true then the drug cartels have been successfully using cryptocurrencies and bitfinex to allegedly launder their money and its participants and speculators may have played a role. I expect many people to face the courts or head to jail.
- 40four 6y ago
  Yeah, I'm not super well versed on this, I think they settled a separate issue a while ago you might be thinking of. It's surprisingly hard to find info on this, buried in a bunch of crap to do with the bitcoin going nuts. I'll dig through my history I read something the other day. Maybe 'court date' wasn't the right thing, but some sort of deadline is soon, and they don't want to extend any more. Here's a few things https://www.nasdaq.com/articles/tether-mints-record-2b-usdt-in-one-week-2021-01-11 https://www.nasdaq.com/articles/tether-mints-record-2b-usdt-... https://www.coindesk.com/nyag-tether-bitfinex-loan-documents-coming-weeks https://www.coindesk.com/nyag-tether-bitfinex-loan-documents... https://finance.yahoo.com/news/york-attorney-general-bitfinex-tether-011537028.html https://finance.yahoo.com/news/york-attorney-general-bitfine...
  - f430 6y ago
    I've been following this very carefully. My popcorn is in the microwave and I believe that we may finally see the biggest comedy gold yet.

by 40four 6y ago

f430 6y ago

> rapidly approaching court date with the New York Attorney General OH MAN! I thought they settled already but I guess this is still on going. Do you have more details on this? I really think Bitfinex's defence is very weak and they could be charged with wire fraud and money laundering. If what I hear is true then the drug cartels have been successfully using cryptocurrencies and bitfinex to allegedly launder their money and its participants and speculators may have played a role. I expect many people to face the courts or head to jail.

40four 6y ago
Yeah, I'm not super well versed on this, I think they settled a separate issue a while ago you might be thinking of. It's surprisingly hard to find info on this, buried in a bunch of crap to do with the bitcoin going nuts. I'll dig through my history I read something the other day. Maybe 'court date' wasn't the right thing, but some sort of deadline is soon, and they don't want to extend any more. Here's a few things https://www.nasdaq.com/articles/tether-mints-record-2b-usdt-in-one-week-2021-01-11 https://www.nasdaq.com/articles/tether-mints-record-2b-usdt-... https://www.coindesk.com/nyag-tether-bitfinex-loan-documents-coming-weeks https://www.coindesk.com/nyag-tether-bitfinex-loan-documents... https://finance.yahoo.com/news/york-attorney-general-bitfinex-tether-011537028.html https://finance.yahoo.com/news/york-attorney-general-bitfine...
- f430 6y ago
  I've been following this very carefully. My popcorn is in the microwave and I believe that we may finally see the biggest comedy gold yet.