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Tether is at the center of it all. They're taking down Tether's customers one by one. See the list below, you'll recognize a bunch of names now either insolvent

by graeme 4y ago

Tether is at the center of it all. They're taking down Tether's customers one by one. See the list below, you'll recognize a bunch of names now either insolvent or in jail or both. Each one of these takedowns will help build an eventual case against Tether. If they had gone for Tether first there would have been a big blowup and controversy. This way they can mop them up after the system around Tether has collapsed. https://protos.com/tether-papers-crypto-stablecoin-usdt-investigation-analysis/ https://protos.com/tether-papers-crypto-stablecoin-usdt-inve...

VHRanger 4y ago
Correct. It's pretty clear Cumberland Global (largest USDT customer after FTX/Alameda) is "trading shop" A or B (headquarter in Chicago, offices in NYC, London, Singapore)
- graeme 4y ago
  Wait, where is trading shop A or B mentioned? Have not had time to read the complaint. Tried searching it but if it's in there it uses another keyword. This is news to me, haven't heard anyone mention Cumberland global recently? I know they're up to their neck in it, I just mean they seemed to have skated by without much notice.
  - VHRanger 4y ago
    Look at pp. 48 and on for their mention. IDK why it doesnt show up with ctrl+f in the pdf. Two of those firms are clearly cumberland and jump crypto. Cumberland has been the reverse of Alameda -- they're an offshoot of DRW and very professional about their business as far as we know (though shady as hell -- look at CFTC complaints on DRW). We know most new USDT sent to Binance on Tron directly from the mint address were to Cumberland. We dont know the terms of the deals they're buying it on. Also, I wrote this piece which went viral last year: https://www.singlelunch.com/2022/01/09/an-anatomy-of-bitcoin-price-manipulation/ https://www.singlelunch.com/2022/01/09/an-anatomy-of-bitcoin... The leading suspects for culprits are cumberland. I thought it was Alameda but they've exposed themselves as likely too incompetent to pull something like that off. DRW we know has the technical competency to do momentum ignition.

by graeme 4y ago

VHRanger 4y ago

Correct. It's pretty clear Cumberland Global (largest USDT customer after FTX/Alameda) is "trading shop" A or B (headquarter in Chicago, offices in NYC, London, Singapore)

graeme 4y ago
Wait, where is trading shop A or B mentioned? Have not had time to read the complaint. Tried searching it but if it's in there it uses another keyword. This is news to me, haven't heard anyone mention Cumberland global recently? I know they're up to their neck in it, I just mean they seemed to have skated by without much notice.
- VHRanger 4y ago
  Look at pp. 48 and on for their mention. IDK why it doesnt show up with ctrl+f in the pdf. Two of those firms are clearly cumberland and jump crypto. Cumberland has been the reverse of Alameda -- they're an offshoot of DRW and very professional about their business as far as we know (though shady as hell -- look at CFTC complaints on DRW). We know most new USDT sent to Binance on Tron directly from the mint address were to Cumberland. We dont know the terms of the deals they're buying it on. Also, I wrote this piece which went viral last year: https://www.singlelunch.com/2022/01/09/an-anatomy-of-bitcoin-price-manipulation/ https://www.singlelunch.com/2022/01/09/an-anatomy-of-bitcoin... The leading suspects for culprits are cumberland. I thought it was Alameda but they've exposed themselves as likely too incompetent to pull something like that off. DRW we know has the technical competency to do momentum ignition.