111–120 of 326 posts
This is very interesting. Hindenburg is the real deal. One challenge may be that, like the Mafia, Tether keeps its inner circle and employs family members. They have ~15 employees for a 70 billion dollar operation. The CTO’s wife is a manager, and the CEO’s daughter works for an unnamed crypto family office, which may be related. Their counterparties in Chinese commercial paper may not know they are counterparties du…
Earlier quoted context omitted.
It is a terrible target to short as you can only do it through exchanges that deal in Tether. Exchanges that can manipulate your position and liquidate you if they feel like it. Exchanges that benefit from Tether existing.
Tether is pervasive in DeFi. You could borrow Tether through a smart contract, exchange for another stable or asset. Pay the interest until it collapses in the future and, buy back worthless Tether cheap to pay off loan and get collateral back.
This made me check the prices. Apparently Bitcoin hit a new all-time high today at over $64k.
It may be counterintuitive, but the best thing that could happen to Bitcoin would be for Tether to collapse in a cloud of dust. Tether is continually cited as a large risk factor to Bitcoin by people who have gotten past the "it's not real money" objection. But I think it's worth considering what happens if the collapse never comes. If government investigation, findings of wrongdoing, admission of lies, and punishmen…
I share your opinion, and especially true if you have a ~5 year horizon on BTCUSD.
But... does it ultimately matter? All the other sh*tcoins are backed against nothing and have huge market caps as well.
It’s different because Tether claims to hold 1 USD for each Tether. A claim that should be verifiable. The value of sh*tcoins is just a function of their future resale value.
They provide a more detailed breakdown here: https://tether.to/wp-content/uploads/2021/08/tether_assuranc...
About half in commercial paper and CODs. A quarter in t-bills. 2B in unspecified "digital tokens".
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> If you induce them to violate an NDA, yes, it could be. Is violating an NDA illegal ? I'm not a lawyer and I don't play one on TV, but I don't think violating an NDA is illegal as in you could go to prison for violating a law. Yes, it could open you up to legal jeopardy as in a lawsuit which could be expensive, but I don't think any laws are violated. And if you're violating an NDA to expose some corrupt practices…
Never thought about this, but I guess you might be on the hook for fraud if you violated an agreement for profit. That is, an employee violating an NDA for profit might be considered committing fraud against their employer. It's strange - Tether seems shady but I don't think Hindenburg's offer is on firm ethical or legal ground. What if Hindenberg offered $1M for access to a private list of donors to a [prominent abo…
Of course I have no idea if offering someone a large sum of money to violate any kind of contract is in any way illegal or even actionable in civil law since the person can always refuse the money and uphold their contract. If it made you criminally liable, wouldn’t every job offer to someone under contract with a competitor lend you in jail?
IANAL so offer money to break NDAs at your own risk.
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> Even if the origin, operation of Tether is highly suspicious: if it functions, is widely adopted and does what is expected … may last longer than people think. I think you're right about this point, and I've been trying to imagine what might cause Tether to collapse - you really need a run on the bank situation triggered by something causing them to become insolvent.
A run on a bank can make it insolvent? I thought that insolvency was when they don't have the assets to cover their liabilities. My understanding of a bank run is it happens when a bank is solvent, but doesn't have enough in reserves - liquid, short term assets. But if they simply don't have at least 100% of their liabilities in assets, then they are bust because they can never pay people back barring a miracle.
This is very interesting. Hindenburg is the real deal. One challenge may be that, like the Mafia, Tether keeps its inner circle and employs family members. They have ~15 employees for a 70 billion dollar operation. The CTO’s wife is a manager, and the CEO’s daughter works for an unnamed crypto family office, which may be related. Their counterparties in Chinese commercial paper may not know they are counterparties du…
>Hindenburg is the real deal. Hindenburg is not the real deal. If you think Hindenburg is the real deal you should pay closer attention to their activities. They (he) are one of a number of noisy short sellers who try to drive stock prices with their tweets/reports. SEC should be doing things to these people. That said, he is probably right about Tether. Tether should make every crypto speculator or holder very nervo…
I’m a Hinden-believer I suppose
This is very interesting. Hindenburg is the real deal. One challenge may be that, like the Mafia, Tether keeps its inner circle and employs family members. They have ~15 employees for a 70 billion dollar operation. The CTO’s wife is a manager, and the CEO’s daughter works for an unnamed crypto family office, which may be related. Their counterparties in Chinese commercial paper may not know they are counterparties du…
>Hindenburg is the real deal. Hindenburg is not the real deal. If you think Hindenburg is the real deal you should pay closer attention to their activities. They (he) are one of a number of noisy short sellers who try to drive stock prices with their tweets/reports. SEC should be doing things to these people. That said, he is probably right about Tether. Tether should make every crypto speculator or holder very nervo…