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Tether reveals partnerships with Secret Service, FBI in letter to U.S. Senate

finance.yahoo.com

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Re: Tether reveals partnerships with Secret Service, FBI in letter to U.S. Senate

#21

Post by WhereIsTheTruth »

lern_too_spel wrote: post #15
WhereIsTheTruth wrote: post #8

[flagged]

The letter reported here specifically mentions the FBI and doesn't mention the CIA. The press doesn't mention the CIA because it isn't in the letter the article is about. https://assets.ctfassets.net/vyse88cgwfbl/6KDtp7U4IcH03zPWnp...

Of course, now ask yourself what the FBI will to an organization that's washing money using crypto in Qatar? What the FBI gonna do?

FBI = domestic

letter:

"as we continue to assist law enforcement and expand dollar hegemony globally."

globally, what the FBI gonna do globally?

CIA has all 'rights' and capacity to act as whoever they want

Up to the reader to critically think in a way that permits yourself to ask, again, "what the FBI gonna do globally?"

https://www.vice.com/en/article/dyp7vw/the-cia-is-deep-into-... (imagine asking yourself if CIA/NSA are the creator of Bitcoin, the heresy! ban him!)

Re: Tether reveals partnerships with Secret Service, FBI in letter to U.S. Senate

#22

Post by y8bj »

y8bj wrote: post #11
denlekke wrote: post #10

Earlier quoted context omitted.

would love to read more if you have a link [edit: re CIA connection]

Google USD digital currency and you’ll see all the usual media outlets propagating the idea in concept to normalize it

[flagged]

Re: Tether reveals partnerships with Secret Service, FBI in letter to U.S. Senate

#23

Post by scaredginger »

kristjank wrote: post #9

That might explain why it has not crashed completely yet. As a rule of thumb, never trust service providers that should, by all common sense, fail, but miraculously don't.

Can you explain this 'common sense'? I was under the impression that Tether was in the business of taking USD (with the promise of returning it) and earning interest on that USD without paying any interest on it. If that's true, it sounds like a dream business to me

Re: Tether reveals partnerships with Secret Service, FBI in letter to U.S. Senate

#24

Post by snowwrestler »

WhereIsTheTruth wrote: post #21
lern_too_spel wrote: post #15

Earlier quoted context omitted.

The letter reported here specifically mentions the FBI and doesn't mention the CIA. The press doesn't mention the CIA because it isn't in the letter the article is about. https://assets.ctfassets.net/vyse88cgwfbl/6KDtp7U4IcH03zPWnp...

Of course, now ask yourself what the FBI will to an organization that's washing money using crypto in Qatar? What the FBI gonna do? FBI = domestic letter: "as we continue to assist law enforcement and expand dollar hegemony globally." globally, what the FBI gonna do globally? CIA has all 'rights' and capacity to act as whoever they want Up to the reader to critically think in a way that permits yourself to ask, again…

The FBI has offices around the world.

Re: Tether reveals partnerships with Secret Service, FBI in letter to U.S. Senate

#26

Post by wmf »

scaredginger wrote: post #23
kristjank wrote: post #9

That might explain why it has not crashed completely yet. As a rule of thumb, never trust service providers that should, by all common sense, fail, but miraculously don't.

Can you explain this 'common sense'? I was under the impression that Tether was in the business of taking USD (with the promise of returning it) and earning interest on that USD without paying any interest on it. If that's true, it sounds like a dream business to me

That's what business they say they're in, but in reality they do things like (A) get nearly a billion dollars seized by the US for money laundering, (B) invest in risky Chinese corporate bonds, and (C) issue USDT loans backed by volatile crypto. They're usually solvent but they have been insolvent at various points in their history.

Re: Tether reveals partnerships with Secret Service, FBI in letter to U.S. Senate

#27

Post by fsmv »

scaredginger wrote: post #23
kristjank wrote: post #9

That might explain why it has not crashed completely yet. As a rule of thumb, never trust service providers that should, by all common sense, fail, but miraculously don't.

Can you explain this 'common sense'? I was under the impression that Tether was in the business of taking USD (with the promise of returning it) and earning interest on that USD without paying any interest on it. If that's true, it sounds like a dream business to me

The common sense is that they would make a lot more money by doing fractional reserve (leaving them open to a bank run collapse) and there is nothing really to stop them from doing that.

Re: Tether reveals partnerships with Secret Service, FBI in letter to U.S. Senate

#28

Post by Supermancho »

SV_BubbleTime wrote: post #6
KennyBlanken wrote: post #4

Notably, this is a coin used by a lot of cryptominers, many of whom are Chinese who fled the ban in China on crypto mining and also to export their wealth in a way they can't otherwise because China doesn't allow transfer of currency out of the country. Example: https://www.nytimes.com/2023/12/25/technology/bitrush-bitcoi... ...so now gigawatts of electricity are being used here to generate more wealth for chinese bi…

Real estate is how China allows their citizens to move money out of country. If the money is at all legitimate, there is a vehicle. I’ve been around the world, and I’ve been as much Chinese real estate as I’ve seen, makes me think there is very little legitimate money in crypto for this application.

You're not the only one to have seen the Chinese real estate, from the Alberta coast to Florida. If you want to move money, ofc you can[1]. There is commerce with China. If you want to avoid controls (including punitive ones), real estate is not a preferred choice. This "vehicle" took a huge hit around 2016ish[2], which is why Chinese transfers fell dramatically crashing a number of luxury markets (US locales) with it. This is still recent memory and taken into commensurate consideration.

[1] https://hrone.com/blog/expats-can-get-earned-money-china-leg... [2] https://www.wsj.com/articles/china-issuing-strict-controls-o...

Re: Tether reveals partnerships with Secret Service, FBI in letter to U.S. Senate

#29

Post by mvdtnz »

y8bj wrote: post #22
y8bj wrote: post #11

Earlier quoted context omitted.

Google USD digital currency and you’ll see all the usual media outlets propagating the idea in concept to normalize it

[flagged]

You're being downvoted because when the user asked if there was any more reading material you told them "google it". That's rude and unhelpful.

Re: Tether reveals partnerships with Secret Service, FBI in letter to U.S. Senate

#30

Post by wolverine876 »

Animats wrote: post #2

Each disabled token is pure profit to Tether. They're not cashing them out to the US Treasury, as with Bitcoins recovered from criminal operations.

It's an interesting question: What does that mean?

Maybe it's better to look at cryptocurrencies as financial securities, shares in an asset controlled by a private company (as has been said many times before). Could General Electric 'disable' the shares of a shareholder? What would that mean? The shareholder can't sell their shares, I suppose, but GE's equity would remain the same (not counting any market movement that would be caused by the sale).

Imagine a monetary system where currency was profit to a private company. What will our once-proud industry think of next? Software to help landlords collude, take housing off the market, and jack up rents? Software that impersonates humans, as well as any form of truth? We are on a roll!

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