81–90 of 255 posts
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But she’s highly regarded! It’s all just a little joke. Check out https://www.reddit.com/r/wallstreetbets . Also https://m.youtube.com/watch?v=jg85H26wyLk She certainly earned her sentence, and I have no sympathy for her. But isn’t it hard not to be at least a little impressed with the sheer scale of her losses? Getting in the record books for “most money lost by a single individual” is a hard thing to do in general.
Bill Hwang has that number beat.
The 7 offences are not detailed individually in the news, or I couldn't find it.
I wonder if something similar will eventually happen to the Tether people? To my understanding they're printing money (USDT) which they claim is backed 1:1 by USD but really isn't. These USDTs can then be spent to pump up various other crypto assets. Seems a very shady business.
My conspiracy theory is that USDT is actually well backed, but the Tether people intentionally make it look shady so they can buy the dip and arbitrage against panic selling. Some volatility would actually increase their ability to profit.
There's a lot of analogs here.
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That's crazy. I'm thinking Hanlon's razor applies here, there is absolutely no evidence that tether is legit.
Where are all the Tether holders complaining that they can't convert it into dollars?
That is to say, exchanges like Binance are heavily dependent on USDT. Those are the only venues you as an individual have to exchange tethers for USD (of course this is not the same as a redemption which is solely at Tether's discretion). Why would the exchanges ever come to Tether for the cash knowing they weren't good for it when revealing the pantslessness of the emperor would take them down too?
It is my opinion that Tether succeeded in doing what the Luna Foundation Guard was trying to do - they made all the 'industry' players so dependent on their continued existence that anyone blowing the whistle would take out the whole space. This in turn makes sure nobody gets within a few hundred yards of a whistle.
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I think you are assuming way too much here. She's not the queen of anything, she's a fraudster that will spend a long time in jail and that has probably much less understanding of the mechanisms involved than you give her credit for. If she did she wouldn't be in the position she's in. The last thing we really need is for people to start lionizing her.
But she’s highly regarded! It’s all just a little joke. Check out https://www.reddit.com/r/wallstreetbets . Also https://m.youtube.com/watch?v=jg85H26wyLk She certainly earned her sentence, and I have no sympathy for her. But isn’t it hard not to be at least a little impressed with the sheer scale of her losses? Getting in the record books for “most money lost by a single individual” is a hard thing to do in general.
I laughed.
I wonder if something similar will eventually happen to the Tether people? To my understanding they're printing money (USDT) which they claim is backed 1:1 by USD but really isn't. These USDTs can then be spent to pump up various other crypto assets. Seems a very shady business.
If anything, the pressure on Sam might result in him turning on Tether/Binance/other-frauds with key insider evidence for reduced sentencing. The guy's a pvp gamer at heart so probably min-maxing with his lawyers what he can do as a criminal informant.
What? That's such a bizarre idea.
Do you think the lawyers go "thank god this man plays Starcraft, so he understands the need to have a strategy in court!"
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Didn't Tether get ordered the other day to disclaim all of its reserves? What happened to that? I find it incredible they keep surviving attempts to reveal exactly how the sausage is made in their reserves. https://www.yahoo.com/video/stablecoin-issuer-tether-ordered...
It seems like they were ordered to give the plaintiffs the documents, but they weren’t ordered to publicly release them. NYAG also looked into them last year. They were fined but it doesn’t seem like anything else came of it. > The New York Attorney General’s probe into Tether’s reserves concluded in February 2021 with an $18.5 million settlement. I don’t hold any tether, and I wouldn’t recommend it to others. But th…
What a Queen. Massively connected and after destroying the life of thousands of working class chumps she gets to walk free after getting her wrist slap.
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> She mentioned she’s not a fan of stop losses At the volume they were trading, stop losses are no longer practical. The market is not infinitely deep.
I've never understood how stop losses are supposed to help. Traders read heaps of news, do God knows what technical analysis yet simple "moves bit too much in wrong direction" is supposed to be an acceptable exit strategy.
Presumably i bought because I thought it was worth more than $100, it would only make sense for me to sell at $80 for a reason other than the price: fundamentals change, some bad event happening. If the only thing that changed is the price, I want to buy more at $80!