I will just add that these allegations are for money laundering, and know your customer concerns. I have no doubt that tether has been guilty of these and probably will pay a fine someday. That being said, this is not the fraud that tether truther have always said - which is basically that tether does not have the assets to back the tokens. There is absolutely zero evidence of this. Also, every person that has tried to redeem tether since day one has been able to redeem no problem, even during crisis periods like FTX and Silicon Valley Bank. Keep dreaming.
until audit is produced I will keep sain it. 10 years and not a single audit for a company upon which whole crypto market depends. If this is not a red flag I do not known what is. It should be a very simple audit, just show reserves. the only reason not to do it is because they have only small portion of what they claim to have. The genius part was to put it into Cantor and get some legitimacy.
so the answer is there is no statue of limitations honest question - how, in this version of reality, did tether convince cantor to publically lie for its benefit? … and why would they put their 100+ year company (which survived a plane ramming right into their trading room during 9/11) in jeopardy? It makes no sense that they would take this risk just to custody a bunch of treasuries, which they probably make little money on anyway.
Cantor told truth of course. Their CEO said they hold Tether reserves. He did not say he holds all of their reserves. Cantor could be holding 10 billion, Tether printed 120 billion. once again the most critical crypto firm never did an audit. Imagine the carnage when Tether blows up. the only reason why I hold crypto is a bet that Tether fraud never gets busted. And there is such possibility as well of course.
But that is a reality. I am convinced that it is a fraud. But Just because it is a fraud does not mean it will be exposed. No contradiction. this is a trading forum. My crypto holdings is a bet that Tether fraud is not busted. I would prefer it to be busted, this way we would know the real price of BTC and the rest of crypto market.
It's not clear to me how the price of BTC would change one cent if Tether got busted. Please explain.
Also why would someone be long (not short) if they thought a collapse was coming and hoping and wishing it so?
all speculation of course, but I think in a fantasy world were tether is shown to not have the assets backing usdt, bitcoin would strongly rally on a intra-crypto flight to safety. On a bigger point though … nobody needs tether to exist. I get a lot of the trading is in tether pairs, mostly bc it’s the biggest and oldest and many in em countries only have usdt as a stable coin option, but it does not have to be at all. Any other stable coin can step into Tethers place and do the exact same thing. Most importantly it has nothing to do with a long-term viability of bitcoin.