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It assumes that the fraudulent stablecoin created by Binance, and involved in the vast majority of trades, (more 70%, a few days ago) unwinds. https://crypto-a

It assumes that the fraudulent stablecoin created by Binance, and involved in the vast majority of trades, (more 70%, a few days ago) unwinds. https://crypto-anonymous-2021.medium.com/the-bit-short-inside-cryptos-doomsday-machine-f8dcf78a64d3 https://crypto-anonymous-2021.medium.com/the-bit-short-insid... https://bitfinexed.medium.com/tether-is-setting-a-new-standard-for-transparency-that-is-untethered-from-facts-deec42c473bb https://bitfinexed.medium.com/tether-is-setting-a-new-standa... USDC (the second largest stablecoin), isn't appreciably better.

BLKNSLVR 5y ago
Tether is associated with the Bitfinex exchange, not Binance. Binance has its own stablecoin: BUSD USDC is associated with Coinbase, the exchange that recently went public, so I'd assume it's far more trustworthy than Tether.
- WalterSear 5y ago
  USDC is avoiding audits too.
- grey-area 5y ago
  There are also deep and to my mind suspicious links between the two, this fraud is a shared endeavour. https://cointelegraph.com/news/a-by-the-minute-look-at-tether-s-1-billion-swap-from-bitfinex-to-binance https://cointelegraph.com/news/a-by-the-minute-look-at-tethe...
- WalterSear 5y ago
  This Binance? https://wallet.tether.to/richlist https://wallet.tether.to/richlist
  - BLKNSLVR 5y ago
    Binance has holdings in all sorts of cryptocurrencies that it has no involvement in the creation or minting of. As a cryptocurrency exchange, Binance must hold Tether to operate. As the most popular cryptocurrency exchange on the planet, they're likely to be on the larger end of Tether (and various other cryptocurrencies) holdings. I'm not defending Binance here, I think there's fair potential that they're doing shady stuff, but they're not responsible, in any way, for the minting of billions of dollars of Tether, or involved in any of the dodgy accounting around Tether's backing. Same goes for Huobi, who are second on that list. They're an exchange. Holding Tether is an essential part of being in that business.
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BLKNSLVR 5y ago

Tether is associated with the Bitfinex exchange, not Binance. Binance has its own stablecoin: BUSD USDC is associated with Coinbase, the exchange that recently went public, so I'd assume it's far more trustworthy than Tether.

WalterSear 5y ago
USDC is avoiding audits too.
grey-area 5y ago
There are also deep and to my mind suspicious links between the two, this fraud is a shared endeavour. https://cointelegraph.com/news/a-by-the-minute-look-at-tether-s-1-billion-swap-from-bitfinex-to-binance https://cointelegraph.com/news/a-by-the-minute-look-at-tethe...
WalterSear 5y ago
This Binance? https://wallet.tether.to/richlist https://wallet.tether.to/richlist
- BLKNSLVR 5y ago
  Binance has holdings in all sorts of cryptocurrencies that it has no involvement in the creation or minting of. As a cryptocurrency exchange, Binance must hold Tether to operate. As the most popular cryptocurrency exchange on the planet, they're likely to be on the larger end of Tether (and various other cryptocurrencies) holdings. I'm not defending Binance here, I think there's fair potential that they're doing shady stuff, but they're not responsible, in any way, for the minting of billions of dollars of Tether, or involved in any of the dodgy accounting around Tether's backing. Same goes for Huobi, who are second on that list. They're an exchange. Holding Tether is an essential part of being in that business.

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