Tether is a little bit different is that redemption or a run on the bank won’t kill them. After many round of attack im sure of that.

Of 100% tether printed, my estimate is around 70% is now grade-A treasuries bills or other high grade liquid bond. Perhaps 15% is more questionable debts and another 15% are ponzi coins/bad debt.

So to really kill tether, user, institution, and big crypto bosses all have to focus and do a one shot mass withdrawal that at least drain 80% of their withdrawal for a real depeg to happen. So no dice on creating a bank run there.

I believe tether depeg will only happen when regulator brute force open their reserved to show its not 100% backed by grade-A instruments. But given regulator slow paced, by the time they open tether would have atleast 90% of their backing in quality debt, so ya…… this one probably could get away by fake it till they make it.

Another possibility of collapse is leaked insider info showing their reserved/backing details. But given the small team bitfinex/tether have, i dont think possible on this

This post has been edited by ChAOoz: Nov 18 2022, 10:38 AM

Hmm… seemed like Tether also label “future receivables” as part of their reserved. Their biggest client is ftx. Interesting……

Also Genesis is doing 1bil fund raising, if this fail possibility of dissolving either their gbtc or ethe trust due to its below fair value market price. Also another big hammer to crypto.

Seemed like all bad news for now, can open short position but low volume easy to manipulate pump by whales. Decisions, decisions…

Us regulator working like snails. Tether keep dodging and working with ponzi scammers to build up their war chest. Probably started with only 50% reserved, but throughout the years of scamming i would estimate they have atleast 70% is real grade A reserved now.

Maybe ftx US criminal investigation can open their book. Lets see….

Well i think otherwise. But no point to argue, i just wanna see anyway to make money from this.

From what i see real volume will shrink and wash trading will be more rampant as big players in crypto space will collude to keep prices stable.

So to really short it, we need a bad actor from this group to break the act, and creat panic. Waiting, waiting.

If by 1 month nothing major happens, probably can open long position in most crypto especially meme coin again to play a quick upside.

Currently in crypto space those with utility and worth investing for long term, if you take out all the tradefi speculative products are ETH and consensys imo.

Too bad consensys no ICO or anything remotely close to it for public participation, so next best thing is to get ETH at a reasonable value. Eth at market cap of around 30B is worth considering. Around the 250USD mark, so waiting for crypto capitulation. Apart from that just trade it

Digital currency group currently having some problem. This is going to be another big red hammer onto crypto community.

Especially for us locally due to luno exchange exposure. Hopefully all asset is 1:1 back so they can withstand a bank run.

Seemed like dcg is operating another flywheel scheme as well.

Not sure how true but better be safe and avoid their related products for the time being.

Mazars has stop all auditing works for crypto firm effective immediately.

My guess is regulation is coming and they fear get persecuted for non compliance, like what happen to Arthur Andersen with Enron.

Thats why no big 4 took up any crypto auditing works, except for coinbase with Deloitte.

While everyone is focusing on binance fud.

There is dcg at the background slowly bleeding from their grayscale fund and ftx fallout.

Tether back in action. This round not sure to bail out who, but must be someone important to the industry.

This post has been edited by ChAOoz: Jan 14 2023, 02:41 PM

To be fair i would have trust usdc + svb anyday more than tether + deltec.

But problem is the slimiest always last till the last minute before an epic unwind. Now with their major competitor gone, fresh fund inflow will allow tether to pump crypto again to save itself and encourage more trading.

Have been staying away from crypto since end of last year. Its all smoke and mirrors and a giant ponzi with tether at its heart.

Something is going on with binance and tether.

Lets hope that its not another precursor to an ftx meltdown.

Prime trust saga incominf.

Will get juicy if tusd losses its peg and bring binance along with it.

Got burn alot trying to short crypto this few months.

Loaded up on another batch of short position today. Should have quite alot of doj and sec action lately, hope i can recover back my losses.

Gambler’s fallacy.

Another eventful night in crypto.

Probably news will hit msm by tomorrow morning

It was a good deal for CZ, but how they are going to pay the fine and also whether this will impact crypto trade volume is yet to be seen.

I believe for the short term it will be bullish from retail standpoint, but not sure what does the plea deal entails.

If the plea details include opening up binance transaction and books to the gov, then it could be used as a honeypot to follow the trails back to other bad actors like tron network etc and cause more mayhem and disruption in the space.

With both binance and ftx under the gov supervision, its bullish for consumer protection but it might impact the existing space as there could be a cleaning up happening at the back of the scene

Cannot short crypto lately, all trades going short are losing trade. Even biggest exchange proven to break laws is also a bullish signal.

Guess I never learn my lesson betting against cryptoverse, should have trade and think like a degen.

I started shorting on the night before doj announcement, and i expect after the terms of the deal which is opening of binance trade details to the gov more skeleton will come out of the and even more sec / doj action.

Maybe instead of thinking few steps ahead and short, i should have simply look at the direct sentiment and trade as that. Well its alright, there will be more sec enforcement soon on others like krakens as well as stables soon, just gotta time it further out, expecting market to priced this in at a late date i guess.

Justin sun having his own problem rn, i believe its limited withdrawal same like ftx when they first started imploding.

Binance and tusd relationship is one to watch.