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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

#31

Post by wolverine876 »

fallingfrog wrote: post #25

“Tether seeks to be a world class partner to the U.S. as we continue to assist law enforcement and expand dollar hegemony globally." Well that’s an interesting statement, saying the quiet part loud (About dollar hegemony)

Are they sophisticated enough in public communication to try, in passing, to spread the gospel of cryptocurrency: the dollar's market power is 'hegemony'.

(I know the expression is already used, but not by the government and its partners, afaik, and not as an explicit goal.)

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

#32

Post by WhereIsTheTruth »

snowwrestler wrote: post #24
WhereIsTheTruth wrote: post #21

Earlier quoted context omitted.

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.

Again, what they gonna do globally? What's their mission? Is it to "as we continue to assist law enforcement and expand dollar hegemony globally."?

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

#33

Post by tz18 »

Supermancho wrote: post #28
SV_BubbleTime wrote: post #6

Earlier quoted context omitted.

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 i…

The Alberta coast??

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

#35

Post by woodruffw »

Weird phrasing. It isn't clear that responding to OFAC listings makes one a "partner" of the FBI or Secret Service; to my knowledge, entities that do business in the US (or anywhere the US's financial limbs can reach) have to respond to OFAC listings.

Am I missing something here?

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

#36

Post by phyalow »

charcircuit wrote: post #17

I do not think this is surprising. DAI is a better alternative if you want a stablecoin that can't be frozen.

Not actually true, while MakerDAO (DAI's issuer) cant microtarget and freeze, DAI itself still has alot of systematic risk, i.e. it has a large part of its backing assets in USDC, Circle could freeze this part of their balance sheet VERY easily. They also have "RWA" i.e. more traditional financial products in the mainstream financial system to generate a yield, it would be easy enough for the service providers to be ordered to freeze these assets (on the back of a money laundering or kyc type of case bought by regulators).

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

#37

Post by alexb_ »

fallingfrog wrote: post #25

“Tether seeks to be a world class partner to the U.S. as we continue to assist law enforcement and expand dollar hegemony globally." Well that’s an interesting statement, saying the quiet part loud (About dollar hegemony)

It's not exactly a secret. The US dollar's proliferation is an extremely good thing to happen in the world - our modern banking system is one of our greatest inventions.

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

#38

Post by charcircuit »

phyalow wrote: post #36
charcircuit wrote: post #17

I do not think this is surprising. DAI is a better alternative if you want a stablecoin that can't be frozen.

Not actually true, while MakerDAO (DAI's issuer) cant microtarget and freeze, DAI itself still has alot of systematic risk, i.e. it has a large part of its backing assets in USDC, Circle could freeze this part of their balance sheet VERY easily. They also have "RWA" i.e. more traditional financial products in the mainstream financial system to generate a yield, it would be easy enough for the service providers to be…

It's the collateral that would be frozen. It's not your stablecoins.

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

#39

Post by djbusby »

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

Might fall under the "too good to be true" realm.

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

#40

Post by yterdy »

alexb_ wrote: post #37
fallingfrog wrote: post #25

“Tether seeks to be a world class partner to the U.S. as we continue to assist law enforcement and expand dollar hegemony globally." Well that’s an interesting statement, saying the quiet part loud (About dollar hegemony)

It's not exactly a secret. The US dollar's proliferation is an extremely good thing to happen in the world - our modern banking system is one of our greatest inventions.

For whom?
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