Tether (USDT) is a scam. After reading the link below, you will be in no doubt whatsoever. It is clear that Tether is Bitfinex. One and the same. Realise that some $20 billion of USDT has been issued in 2020 alone. There is no evidence this came into Tether in the form of hard, fiat currency. Is it credible this amount of money would move into Tether before the Bitcoin explosion?
In December, on days the BTC was surging, 4 to 5 X the entire known issue of USDT was being moved in the BTC market. PER DAY.
Why would Tether / Bitfinex spoof and manipulate the BTC price? Because they did it before! In 2017/2018, and it was very successful. Unfortunately as Amy Castor details, they made some bad moves thereafter and faced difficulties getting reputable banks / financial institutions to deal with them. Large amounts were lost to an as yet not fully understood fraud. So they have been forced to lie dormant till recently.
Tether / Bitfinex are in a desperate situation: New York Attorney General Investigative case is closing in and they have to fill the black hole. How?
Simple: ramp up BTC price over Xmas / New Year using unbacked USDT. Sell before Jan 15th when documents due in Court. Cook books with enormous profits made. Satisfy Court requirements: crisis over.
I posted this predicting what would ha
To be fair, the rapid BTC price has solidified credibility or acceptance and new floor of support has been found. Up to you if you believe this has triggered a rush to get in that will last. You should at least be aware that part of the recent ramp up was probably fraudulent.
Seeing another thread about ‘cashing out’ of crypto. Yes, it is made as hard and costly as possible for a reason. Do not accept tokens or stable coins.
No comments:
Post a Comment