/biz/ - Business & Finance

>>25792797
>mostly

>>25792850
Most of the dollars, and the rest as loans and receivables.

>>25792797
>mostly
lmfao the levels of cope

>>25792918
That's what Tether themselves said: 75% USD and the rest as loans and receivables.

https://decrypt.co/51573/stablecoin-issuers-shadows-us-treasury

>mostly

What the actual fuck is that supposed to mean?

>>25792797
Kek they quote mostly the civil suit against tether while making it seem powerful

>>25793274
Can you smooth brains read?
>>25792971
>>25792912

>>25792850
>>25792918
>>25793274
Kill yourself ESL

Tether printed 1000% since 2020. Unironically worse then FED.

I understand that the people who are being paid to post in favor of Tether right now might be receiving a pretty good salary to do so, but I wonder if it's really worth it? Convincing people not to cover their investment when a crash is inevitable, which will potentially lead to the loss of savings, just so a few billionaires can cash out without consequences, is incredibly unethical and will lead to bad karma across the board. what goes around comes around, shills

And to everyone curious about whether the concerns about Tether are real or FUD, i encourage you to read this lawsuit or at least skim the table of contents

https://www.courtlistener.com/recap/gov.uscourts.nysd.524076/gov.uscourts.nysd.524076.154.0.pdf

>>25792797
https://youtu.be/b_Uq5QCHcU0?t=1433

>>25794076
I watched it twice.

>>25792797
riddle me this tether believers. every day people deposit 400 Mill USD into tether. why do those tether always end up on binance? does binance know which account gets what? why doesnt tether inc send it to the customers wallet.
>you cant

>Mostly had the dollars when market cap was 950 million in 2018
>74% backed by cash and "cash equivalents".
>Market cap soon 25 billion and they're printing +3 billion a month.

So you're saying they started making billion a month a year after they were damn near insolvent and are now making exponentially more money?
Unless the Chink government is directly pumping money into Tether, there's no way this thing is even 10% backed.
This is going to turn out to be the biggest money counterfeiting scandal in history and it's going to lead to giga regulation of all crypto as everyone loses their money and calls for the death of this system.
And all because people didn't actively call for this fucking scam to be audited right from the get go, because they wanted a quick buck.
Get ready for trading crypto to become hell of a lot harder than it used to be and for 60% of the trade volume to evaporate.

>>25794303
>making more
The idea is they print one tether for every USD they get.

And lol@u if you think they tried pulling this shit while under investigation.

>>25792850
>its mostly back by dollars
>mostly

>>25794303
This, I’m starting to think that there is even the possibility that they have the funds but there is probably a TON of money laundering and dirty money involved here

>>25794037
This. One must be plain stupid not to take profits now. The volume btc is traded 60% in is facing a fucking RICO investigation. This is the spark that's needed in overheated markets to blow off big.

>>25794503
see >>25792912 >>25792971

>>25794566
If tether is removed another stablecoin will take its place.

>>25794566
This. They have tons of yuans on their bahamas bank. If they show they act as a reserve bank for usd in a foreign country they'll straight go to alcatraz. However this is exactly what the attorney will find out (basically it's common knowledge that chinks gain usd exposure with thoudands of illegal small offices where they exchange yuan for usdt).

>>25794720
The NY AG case is about "Crypto Capital", not Deltec.

>>25794618
Lol, you think there are honestly sellers who will accept usdt for their usdc or whatever after this is debunked?

>>25794749
There are three differenct cases open anon. Two civil ones, one with the RICO allegations and one by the attorney targeting the loan to bitfinex allegedly taken out of usdt holders reserves.

>>25794501
Yeah I know that's the idea of what it should be.
Yet they weren't even completely backed in 2018 and suddenly they're receiving billions on a monthly basis with the whole Tether supply going exponential.
And yes of course they're pulling it off while under investigation. Why on earth wouldn't they just race this to the bottom when they know they're already done?
They're fucked either way. Either the scam simply dies when it becomes unsustainable to keep up as it has to be exponential to keep up the growth or the investigation simply kills them off completely.
Will you believe in them once a sketchy unregulated bank in a Caribbean tax haven is supposedly receiving 10 billion or more a month in USD? This thing hasn't ever even been properly audited by any authorities.

>>25794618
>If tether is removed another stablecoin will take its place.
If Tether turns out to be the scam it seemingly is, then there's going to be such an aggressive move by the regulators against crypto that you can forget Bitcoin above 1k for the foreseeable future.
It's game fucking over at that point, because every news outlet is going to be reporting about the world's biggest ponzi and how the crypto world stole hundreds of billions from investors.
How much money is going to flow into crypto after that? A fucking trickle compared to what it currently is.
Also banks will seize to work with crypto like many have already done.

Why is there a few anons who is acting extremely militant against tether? What will they get out of it?

>>25794894
Nothing, they're just mad because they missed the boat back in December and kept waiting for a hefty correction to buy back in.

>>25794763
What a bizarre question.
And that's not how you use 'debunked'.

>>25794844
You said "this is exactly what the attorney will find out", in reference to the Attorney General.

>>25794868
>yes of course they're pulling it off while under investigation
> there's going to be such an aggressive move by the regulators against crypto that you can forget Bitcoin above 1k for the foreseeable future.
That's a lot of headcanon.

I hope you're not pinning all your hopes and dreams on this happening.

>>25794894
It's been like this for years.
Sometimes it intensifies, like now with the Jan 15 deadline, which is the fudders trying to rehash the original fud from April 2019.

>>25794894
Inform yourself and you'll become militant too. They performing the biggest scam in history on the whole crypto space and will eventually deal unthought of damages to the developments that were reached.

>Noooo tether is a scammmmmmmm

I don't care

>>25794868
>It's game fucking over at that point, because every news outlet is going to be reporting about the world's biggest ponzi and how the crypto world stole hundreds of billions from investors.
>How much money is going to flow into crypto after that? A fucking trickle compared to what it currently is.

If monies have to trickle into a market for it to return >something< for someone and is producing absolutely nothing that can be shown for, then how is crypto different from any ponzi anyways?

>>25794868
>then there's going to be such an aggressive move by the regulators against crypto that you can forget Bitcoin above 1k for the foreseeable future.

>>25794894
I want clarity and honestly in the world of crypto, because that's the only thing that will allow it to exist and remain usable by the average Joe.
I love fast profits as much as the next guy, but I'm not willing to put on blinders and say
>Hurr just forget it mang, it's totally backed and everything is great.
>See how it's climbing? We're all going to be rich!
Yeah you and every other person who rode a bubble up, but strangely enough there aren't that many winners once things pop. Bubbles harm everyone except few people, especially when they go up without fundamentals.
/biz/ will be shitting out blood when this thing pops despite everyone now being deep in the green.

If the world of crypto remains sketchy as fuck with things like this, it's only one rug pull a way from tanking in an instant.
Do you want to invest in a market that can drop 90% when you're sleeping?
And like I mentioned, if or more like once this thing gets exposed, it will invite every single regulatory authority to look at crypto with insane prejudice and banks will flat out stop accepting crypto profits, due to it's now proven criminal nature.
Something HSBC just recently did. They won't allow people to move crypto money through them anymore.
Where are you going to cash out when your only option is to establish a Panama or Swiss bank account and pull your wealth out that way?

>>25794994
You're the one with a headcanon about a USD backed coin that admittedly wasn't backed with 1/20th of the market cap it now has.

>>25795258
In a way it's not.
But at least in the situation of honest business of selling mined coins, there's no lie about a dollar equivalent being backed by real world currency. Everyone knows what they're dealing with.
In this situation with Tether we're basically looking at genuine money counterfeiting scandal.

>>25795359
>NOOO IT CAN'T FALL!!! NOT MY BITCOINERIINOO!!
Keep that head in the sand buddy.

>>25793274
>mostly

>>25795459
>But at least in the situation of honest business of selling mined coins, there's no lie about a dollar equivalent being backed by real world currency.

If I mine the equivalent of 100 USD in BTC, how is this backed by any value?

US banks have a zero reserve lending requirement and people here are complaining about “mostly” lmao. COPE.

>>25792797
> 26 april 2019

>>25792797
>20b ago
>implying nyag cares about anything outside of a money laundering charge or has the evidence to make such a bold claim without the documents tether has failed to provide for 2 years
wew

>>25792797
>2 more weeks bros trust us pls

>>25795903
4 days left. Clock is ticking.

>>25792797
>>25792971
>>25793326
>>25793384
>>25794501
>>25794763
>>25794844
>>25794894
>>25794985
>>25795024
>>25795204
>>25795258
>>25795681

Why isn’t Tether a Fortune 100 company you fucking brainlets they should be on the cover of Forbes twice a year for being worth trillions. Tether is worth more than Visa. Go on CMC and look at that fucking volume and understand that it’s daily. This shit has been going on for 8 years and the year were regulations are finally fucking everyone in the ass you niggers decide to stick your heads up your own own asses and ignore this circus performance.

>>25796006
>inb4 one of you stupid negroids says anything about market cap
Dumb fuckin retards LMAO the dollars that you’re putting in are circulating within tether and the 4 other branches including Bitfenex.

>>25796006
I assume Tether as well as the whole cryptosphere to be a complete and utter joke as well as a scam for delusional neets and spoiled trust-fund-kids with no capabilities in managing the money their parents give them money.

>>25796006
>Bitfenex
Yikeys! This guy has never heard of the magic of how offering leveraged trades to literal SCUM SUCKING GAMBLERS unrestricted by the common nuances of regulations causes mass inflows.

>>25796117
I never said any of that. I believe in the tech and the purpose, but you can’t ignore there’s like 5 companies (which are also PAYING CYRPTO NEWS OUTLETS to shill) that are involved in rallying the dumb money and pumping money into bitcoin that THEY hold, while also manipulating markets, liquidating longs and shorts all fucking day and all these faggots sit on their hands pretending nothing is going to happen.

>>25796237
>there’s 3 tethers
>Bitfenex
>crypto capital
>polinex
You’re just pretending

>>25795625

It's not.
This is why many people have been calling it a scam right from the start.
The value BTC used to have was only the perceived value. It had no real backing. It was basically backed by faith and an agreed price.
But this kind of a system is totally fine, because we all agree that yes there isn't any more money in the system than what we put in there and the price moves according to our agreement of what the price should be.

But with Tether in the picture it's different.
>Every one of these coins has a real life USD backing
>Now we're conjuring up these coins from the air and we're throwing 3 billion worth of these into Bitcoin every month.
>That money is actually going into the crypto system and we have this money in our banks, trust us in this matter. :^)

This raises the price as high as they want and people believe there's real money in the system, where as in reality there's no money there.
Then people buy the inflated Bitcoins with their real life money.
This is a scam that really falls apart only when someone audits it or, until it becomes blatantly clear that they're in fact not depositing exponentially increasing amount of billions every single month into their bank in Bahama.
When they're supposedly printing something crazy like 200 billion a month, will that open people's eyes? Hopefully we won't get that far, because either way this thing will pop and the sooner they pop the less people are going to get fucked.

>>25796253
>I believe in the tech and the purpose
Even though:
- the market is rigged to the core
- there is no product whatsoever
- no oversight anywhere
- scams and shovelsellers everywhere?

>>25796321
>The value BTC used to have was only the perceived value. It had no real backing. It was basically backed by faith and an agreed price.

But the faith needs money to sustain itself.
Miners need money to sustain their mining.
This is money that needs to exit the market.

>>25792912
has anyone redeemed a """usd"""t for usd then?

Here is my question. I use Coinbase Pro. It doesn't fuck around with tether, just USDC. And when i trade I don't use usdc, I use dollars.

So when this tether shit unfolds, assuming I cash everything out tonight, does Coinbase have the money to pay me out after Jan15 and the potential crash? Like if it says I have 50k USD on that exchange, can they cash me out and send that to my bank account?

>>25794894
they shorted at btc somewhere between 25 and 30k and are deeply in the red

>> 25796385
>the market is rigged to the core
Not exactly, read what the anon had to say about paying what we believe it should cost? This is still at play. Can’t say the same for bitcoin though, it’s only real use case is peer to peer
>there is no product whatsoever
There are plenty of products that offer real solutions
>no oversight anywhere
Regulations are coming. I swear this board doesn’t pay any attention to what regulators say. They have been saying for years that the banking industry is ready to adopt crypto but various branches have different opinions on crypto, that will all change very soon.
>scams and shovelsellers everywhere?
This is very true, which is why with regulations coming it’ll be harder to start your own crypto. This is bearish for Ethereum. No more pajeets scamming everyone.
It’s coming.

> April 26th 2019

>>25796006
>Why isn’t Tether a Fortune 100 company
For the same reason eth isn’t?

>>25796459

Yes real money goes in there in all situations, but what I meant is that the value of BTC was backed by faith and agreement alone.
Where as with Tether they can artificially raise the price by claiming there's more real money in the system than there really is.
If they say we now have created 1 trillion Tether, price of Bitcoin will go apeshit, but that doesn't mean any of this money ever entered the market.
But people think it did, because Tether supposedly has a real USD backing in some sketchy bank and that's the issue here.

>>25796628
Yes Coinbase insures your money up to 250k.

>If you are a U.S. customer, Coinbase pools your balance with the balances of other customers and holds those funds in either:

USD custodial accounts at U.S. banks;
USD denominated money market funds; or
invests them in liquid U.S. Treasuries,
all in accordance with state money transmitter laws. Funds could be held in any one of these three manners so you should not assume your funds are being held in one manner over the other. To the extent these funds are held as USD in U.S. banks, they are maintained as pooled custodial accounts at one or more banks insured by the FDIC. These pooled custodial accounts have pass-through FDIC insurance up to the per-depositor coverage limit then in place (currently $250,000 per individual).

https://help.coinbase.com/en/coinbase/other-topics/legal-policies/how-is-coinbase-insured

>>25797660
Alright cool. so as much as people shit on coinbase they at least are on the up and up when it comes to the legality of their finances.

>>25792797
How many threads per day do we need on this fud? Its always the same guy too. He sticks around and posts at least 50 times in the same thread. There has been already like 4 threads on this all with comments over 70 posts. Give up already.

>>25796628
You better sell your crypto into fiat and gtfo of the exchange and into your bank account now anon.
If CoinBase/all of the cryptocurrency industry exchanges and such goes to the shitter, you don't want to be picking up scraps from a settlement fund in 10-15 years.

So let me get this straight: kikes couldn't beat bitcoin/crypto so they're basically using tether to buy us up through the backdoor? And then crash it with no survivors?
Uhhh guise I don't feel so good

>>25796710
I wouldn't ever buy ethereum ever again after this crash anyway, imagine if crypto actually does good after it recovers, do you want to pay thousands in transaction fees when using ETH because ETH2 is still around 2 years out(hopefully at least 2 years)

>>25798549
>8 posts by OPs id

>>25798549
CME gaps failed, now they are trying the Tether fud.
Next one is the China ban, another classic from 2017.

>>25798769
Thats a small count so far. The thread earlier OP had 50 posts in it. All of it concern trolling with "oh my god" every couple lines.

You had so fucking long to post about the tether fud, and you spam about it now? The only people talking about this are poorfags who missed the boat

>>25798549
>>25798769
I'm countering the fud.

This is your guy: >>25794303 >>25794868 >>25795459 >>25796321 >>25796851

Just drink in the absolutely unadulterated schizo ramblings of the tether fooder.

How do you people think this will affect Ethereum in the short term?

>>25794037
This, since some of you are pouring most of your savings into crypto, at least take a look into the lawsuit itself

>>25794037
Ok wtf people should be worried

>>25799271
Sorry to disappoint you, but I only occasionally visit this place for shits and giggles.
Still I'm happy to hear there are people who are spreading the same info and thanks for quoting my posts for people to find easily. They just might learn something from the shred of common sense I just utilized.

But hey if you think this is just FUD, then keep on investing into the pump and hoping that some non audited bank in Bahamas is actually adding 3 billion dollars a month into their account, despite Tether not having the cash backing even at 950 mil market cap.
Soon they'll be adding 5 billion a month there and not long until you see 10 bil a month supposedly pop up in their account. But no need to worry.
It's all in there. Not that any official auditor ever needs to see it though ;^)

>>25799904
Honestly this, /biz/ needs to start facing reality and asking hard questions before we're all fucked out of our neetmoney.
/biz/ thinks the head in the sand approach will work here.

>>25794844
Civil Rico cases are never won anon, you sound really stupid and naive

>>25798552
Coinbase doesn't rely on tether. Yeah some exchanges might die. I'm expecting it.

>>25798549
True, I found a pic of op earning his 10 yuan

NOCOINER TETHER FUDDERS GET THE ROPE
REPEAT AFTER ME
NOCOINER TETHER FUDDERS GET THE ROPE

>>25800096
A civil Rico case is a nothing burger idiot, anyone can file one on anyone else. If the feds filed it then yes, they’d be in big shit but it’s civil understand the difference

>>25799991
People are gonna lose their money like mt gox and 2017-2018. They’ll scream and yell at anyone who would dare tell them the truth because they’re high as fuck on hopium.

People here are so greedy that they would rather risk losing 90% than exiting with 2-3x of original investment.

>>25794037
>https://www.courtlistener.com/recap/gov.uscourts.nysd.524076/gov.uscourts.nysd.524076.154.0.pdf

This is 6 months old, I read some of it. How does this apply to know? 2021 jan 15 nowhere to be found in this doc

WARNING
Do not listen to any of the retards posting here about Tether.
Obviously, it is very coordinated fud and now when the podcast with the CTO and chief lawyer got released, they all GTFO. No new threads at all.
Just HODL

they mostly come out at night.
>mostly.

>>25795359
Once the feds raid Deltec bank it’s over desu. The podcast was a fucking mistake. Should have kept their mouths shut.

It's already over you dummies. If think 100 billion monopoly moneys cycling through crypto a day aren't going to siphon out every legitimate dollar you're cracked.

>>25801200
Yes because a guy who showed up with his lawyer on a know Bitcoin maxi's podcast totally invalidates all the evidence to the contrary

>>25794868
>If Tether turns out to be the scam it seemingly is, then there's going to be such an aggressive move by the regulators against crypto that you can forget Bitcoin above 1k for the foreseeable future.
unironically take your meds

>>25800269
Kek very insightful desu

>>25794037
I wonder if idiots shilling tether are paid in usdt

>>25799437
Or just listen to the fucking podcast, takes only 30mins and beats any due dilligence. These guys are FUCKED.

>>25800269
thats the gamblers mindset lol

there is literally a RICO court case pending and none of the numbers add up whatsoever.

Just think logically, what company makes 5 billion USD worth of solvency in a few months?

With that kind of cashflow we should all be seeing Tether in Forbes magazine.

Plus the bank that audited them, Deltec or something, is owned by them too. Thats such obvious bullshittery i dont know how anyone can believe theres nothing shady going on in the background