Crypto twitter's mature response, as expected
https://twitter.com/HindenburgRes/status/1450562266919841798
https://twitter.com/HindenburgRes/status/1450562260993298433
$1M bounty for details on Tether’s backing
171–180 of 326 posts
Re: $1M bounty for details on Tether’s backing
#172Disclosure: Hindenburg Research does not hold positions, either long or short, in Tether, bitcoin or any cryptocurrency at the time of this press release.
They'll certainly hold positions when they release any juicy findings they have.
Re: $1M bounty for details on Tether’s backing
#173Earlier quoted context omitted.
> Is it illegal for a private person to offer to pay someone to illegally snitch on an illegal operation? It's not illegal to pay someone for information. If you induce them to violate an NDA, yes, it could be. But given the question "under what jurisdiction does Tether really operate" is a debatable question, I'd say it's probably risky but fine. (If you trade on that information, it could be a different story.)
> 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…
It is not illegal for the person paying the money in most cases. He is not party to the agreement so he cannot break it, many times the buyer may not know such an NDA even exists.
It is different for the person breaking the NDA. In some jurisdictions it only civil crime, it could be criminal as well especially if other acts like insider trading are related etc.
Whistle-blowing protections are a patchwork today, A lot depends on whether you are blowing to a regulatory authority or a established media publications etc. Also how/what you share and how you got it(breaking CFAA is illegal) makes a big difference as well, also being illegal does not mean you will necessarily get prosecuted, it could be bad optics for either the DA/AG (in case criminal) or the company(for civil) to sue - Facebook as yet has not sued Haugen although they clearly have a strong case for example.
Re: $1M bounty for details on Tether’s backing
#174This 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…
I just realized that the Bloomberg reporter who wrote the recent story is named "Zeke Faux." ( Faux meaning "fake" in French, in a story about fraud.) Is his name a pseudonym? If not, it's another surreal point in a surreal story.
If you're unacquainted, look up (other?) examples of 'nominal determinism' - you're in for a treat!
Re: $1M bounty for details on Tether’s backing
#175Disclosure: Hindenburg Research does not hold positions, either long or short, in Tether, bitcoin or any cryptocurrency at the time of this press release.
I wonder why this Reaserch firm is offering such a substantial bounty for information on Tether. What's in it for them? Where will this money come from? From their site they provide an answer (and even a "track record") [1]: > We look for (...) man-made disasters floating around in the market and aim to shed light on them before they lure in more unsuspecting victims. Hence it seems they're doing it for the bennefit…
They are fishing for edge. If they get information that they feel will be able to quickly move markets, they'll initiate a large position before dropping the release to the public. That's how they make money.
Re: $1M bounty for details on Tether’s backing
#176Tether is why I don't hold cryptos. The whole market would collapse with their arrest.
Re: $1M bounty for details on Tether’s backing
#177This 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…
Hindenberg!
What an amazing name for a business that bets on sinking massive failures.
Re: $1M bounty for details on Tether’s backing
#178Earlier quoted context omitted.
"What non-users don't get is the fanatical level of devotion by users. It waxes and wanes with the Bitcoin halving cycle, but always comes back stronger than before." Indeed. 80-90% pullbacks, multi-year bear markets, the seasoned crypto trader has seen multiple apocalyptic financial disasters, where this simply is a potential next one. It fails to impress. The really clever ones thrive from these crashes, that's whe…
I'm not sure you guys get this: Tether is the reason it comes back. Tether drove the 2017 bubble (this is when Bitfinex'd got their start) and has driven the 2021 bubble to the tune of $70b. This resilience wouldn't exist without Tether.
If I have to believe the research on the 2017 pump, tether had a 50% role in it. I'm not sure how much 70b does for today's market cap. Surely it's significant, but it would be an exaggeration to say there would be no demand without tether.
In the end, it doesn't matter. You can make money in crypto whether it goes down, up or is scalping.
Re: $1M bounty for details on Tether’s backing
#179It 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…
Can you (or anyone) give me a few more keywords to find more info about that claw-back of funds? I'm new to the crypto space and my google-fu is lacking today, can't find anything about Ethereum defective contract and subsequent claw-back of funds.
Re: $1M bounty for details on Tether’s backing
#180Earlier quoted context omitted.
I guess it's actually his real name, and Zeke short for Ezekiel isn't uncommon. But Zeke can also mean 'cloak'.
Christ this may as well be numerology.
I'll play!
Teth - Er
Teht: The Phoenician letter name ṭēth may mean "spinning wheel" https://en.wikipedia.org/wiki/Teth
ER: Abbreviation for Emergency Room
"Teth" + "ER" = Spinning dangerously out of control, putting one or more lives at risk.
How did I do?