📌 Developing Story on #Tether
1) @Bitfinexed promised a big surprise and then disappeared
2) Someone is placing bids to buy millions of Tether at $0.0001 (should be $1!) on Kraken's USDT-USD market (the only one that allows to convert worthless Tether into real USD)
https://twitter.com/CasPiancey/status/982991794500587520
3) As some of you noticed, $300M new Tethers were printed recently.
4) Now it emerges that $400M were seized by authorities from a Polish bank which was probably dealing with a shell company that was linked to both, Bitfinex (= Tether) and Colombian drug cartels
🌐 https://www.financemagnates.com/cryptocurrency/news/bitfinex-mixed-colombian-cocaine-polish-media-reports/
🌐 https://cointelegraph.com/news/unconfirmed-polish-prosecutors-seize-400-mln-amid-allegations-bitfinex-is-implicated-in-fraud
5) I suggest to follow https://twitter.com/CasPiancey for more information.
(Don't rely on this channel for news. Channel does cover #Scam but focus is on #Innovation and #Technology )
One final note:
i) If possible, don't keep coins in Binance and Tether-Only Exchanges
ii) Noone knows if Tether is over in a matter of days or years, but I have a feeling the end is rather close
iii) Value of many projects could crash to near zero when liquidity dries up (exchanges with only USDT pairs); long-term, however, the market will be much healthier & confidence of investors higher.
++ Update: PR firm 5W / Torossian just confirmed they no longer work with Bitfinex ++
https://modernconsensus.com/cryptocurrencies/torossians-5w-bitfinex-tether
1) @Bitfinexed promised a big surprise and then disappeared
2) Someone is placing bids to buy millions of Tether at $0.0001 (should be $1!) on Kraken's USDT-USD market (the only one that allows to convert worthless Tether into real USD)
https://twitter.com/CasPiancey/status/982991794500587520
3) As some of you noticed, $300M new Tethers were printed recently.
4) Now it emerges that $400M were seized by authorities from a Polish bank which was probably dealing with a shell company that was linked to both, Bitfinex (= Tether) and Colombian drug cartels
🌐 https://www.financemagnates.com/cryptocurrency/news/bitfinex-mixed-colombian-cocaine-polish-media-reports/
🌐 https://cointelegraph.com/news/unconfirmed-polish-prosecutors-seize-400-mln-amid-allegations-bitfinex-is-implicated-in-fraud
5) I suggest to follow https://twitter.com/CasPiancey for more information.
(Don't rely on this channel for news. Channel does cover #Scam but focus is on #Innovation and #Technology )
One final note:
i) If possible, don't keep coins in Binance and Tether-Only Exchanges
ii) Noone knows if Tether is over in a matter of days or years, but I have a feeling the end is rather close
iii) Value of many projects could crash to near zero when liquidity dries up (exchanges with only USDT pairs); long-term, however, the market will be much healthier & confidence of investors higher.
++ Update: PR firm 5W / Torossian just confirmed they no longer work with Bitfinex ++
https://modernconsensus.com/cryptocurrencies/torossians-5w-bitfinex-tether