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Money laundering, scams, insolvency, lack of regulations, lack of clearinghouses, etc. Lots of reasons. Tether wouldn't exist if Bitfinex was able to cash out
by cwhiz 6y ago
Money laundering, scams, insolvency, lack of regulations, lack of clearinghouses, etc. Lots of reasons. Tether wouldn't exist if Bitfinex was able to cash out dollars on demand.
- gruez 6y ago> Tether wouldn't exist if Bitfinex was able to cash out dollars on demand. Is there evidence of this, ie. mass reports of bitfinex clients not being able to withdraw?
- cwhiz 6y agohttps://www.forbes.com/sites/stevenehrlich/2019/05/02/after-an-850-million-controversy-what-everyone-should-know-about-bitfinex-tether-and-stablecoins/?sh=46384aa8492f https://www.forbes.com/sites/stevenehrlich/2019/05/02/after-... Bitfinex, and Tether, are under scrutiny from multiple state attorneys general.
- gruez 6y agoThat doesn't answer my question. There's definitely shady stuff happening at bitfinex/tether and they should be investigated, but that's not evidence for your claim that bitfinex issued tethers because they couldn't service withdraws.