3 ms·
The SEC is in the business of protecting investors not destroying peoples savings over a few inaccuracies. Why would misleading statements ever result in a shu
by _3u10 5y ago
The SEC is in the business of protecting investors not destroying peoples savings over a few inaccuracies.
Why would misleading statements ever result in a shutdown of a company instead of a fine?
- wmf 5y agoIt's debatable whether Tether has a few inaccuracies or massive fraud.
- deleted 5y ago[deleted]
- tdeck 5y agoBecause the "misleading statement" (i.e. deliberate lie) is the entire basis of Tether's business. The service they claim to provide is fiat backing for their cryptocurrency and they didn't do that. That's not "a few inaccuracies", it's fraud.
- _3u10 5y agoIsn’t the basis of the business that tethers are exchangeable for USD? Have they failed to provide USD when asked?
- tdeck 5y agoEssentially yes. They throw up all kinds of roadblocks to make it difficult to exchange tether for cash in order to preserve the facade. Just one article I found: https://www.google.com/amp/s/micky.com.au/irredeemable-why-is-it-so-difficult-to-sell-one-tether-for-1/ https://www.google.com/amp/s/micky.com.au/irredeemable-why-i...
- orthecreedence 5y agoWait, has anybody ever in the entire existence of Tether actually withdrawn their USDT for USD??
- toofy 5y ago“Misleading statements” is doing a lot work here. When we’re talking about organizations who exist solely in the realm of toying with people’s finances, a “misleading statement” is nothing more than a lie. They were misleading people. There is a reason some things come along with incredibly complex language to explain the nuances of what is actually happening as accurately as possible. We can’t attempt to downplay “misleading statement” in an effort to misdirect away from why they were misleading people.