4 ms·
Tether Used Falsified Documents and Shell Companies to Get Bank Accounts
- more_corn 4y agoObviously, those guys appear to all be crooks.
- engineer_22 4y agoYet after all the attacks in the media it's still trading 1:1 I don't understand it
- deleted 4y ago[deleted]
- EdwardDiego 4y agoCryptocurrency community version of "too big to fail". When Tether unpegs, it'll be catastrophic, so there's a lot of vested interest in keeping it stable looking.
- zoklet-enjoyer 4y agoLooks to me like the US government is trying to inhibit their business
- toomuchtodo 4y agoYes, that’s what you do to crooks. Fraud is fraud.
- spywaregorilla 4y agoMany of them are documented crooks from beforehand.
- lgats 4y agohttps://archive.is/50s0q https://archive.is/50s0q
- corbulo 4y agoTether is about 10000x shadier than anything SBF had cooking.
- jdmark 4y agoTether is laundering money while FTX was embezzling and defrauding money from customers. When we did some digging back in 2017 that is what we discovered about Tether and the various companies that they own. A full audit of Tether still has not been done which is what I was pushing for last year but they are definitely under the microscope now but we still will not find out if they are insolvent or not until some sort of government interaction takes place. At least with fiat we know when the dollar is going to be devalued, with crypto it's just a bunch of scammers and spammers managing these businesses with zero oversight which is why the lawsuits are taking place now. We need to know these types of things so that we can know not to invest our precious fiat into companies that are just going to steal our money from us like what was done with Mt. Gox and FTX. We also need to know if the companies are at risk of collapse so we know when to trade against/short crypto, take profits, and buy the dip.
- pedalpete 4y agoI'm curious if the collapse of Tether would lead to another crash like FTX did, or if it so expected by the community that it is essentially already priced in. Who is holding Tether? Why would they take the risk on what is supposed to be a "stablecoin"?
- zoklet-enjoyer 4y agoI think I have like $15 of USDT on an exchange that's getting ready to kick Americans off. It's nice to hold when you don't want to deal with volatility. That's assuming you trust it won't go to zero. Also there are stable coin pools. I have some money in a pool of 2 different stable coins and I get paid out in the exchange token.
- pedalpete 4y agoI've never understood the logic of a stable coin in general, why not just hold cash. However, I'm suggesting that with the potential dramas around Tether, as any peg is equal to any other, why not hold a stablecoin that does not have Tether's bad reputation?
- snapcaster 4y agoBecause you can't transmit cash to crypto exchanges? Also, Tether is the oldest and most rock solid stablecoin. Maybe supported by criminals but they've never failed to redeem
- amanaplanacanal 4y agoThey all never fail to redeem, until one day they do.
- funstuff007 4y agoThen how does the cash get into Tether?
- pedalpete 4y ago