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/biz/ - Business & Finance

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25711146 No.25711146 [Reply] [Original]

Tether has been manipulating Bitcoin's price upwards for years now by printing unlimited, and unbacked $USDT.

According to the company, Tether is backed 1:1 with the U.S dollar, although this isn't actually the case.

Bitfinex, and Tether have refused to show audits of their reserves, which is held in offshore bank accounts.

In 2019, The United States District Court sued Bitfinex, Tether, and Poloniex for being involved in a massive price manipulation, and fraud scheme in the crypto markets.

In a court hearing, Tether's lawyer admitted the stable coin was only backed by 74% cash, and securities.

On Jan 15th 2021, iFinex is supposed to submit documents requested by NYAG's investigation.

These documents will be consequential to the case.

>> No.25711192

>>25711146
>Proof = just trust me bro

>> No.25711287
File: 160 KB, 1125x602, 7B169F21-7CF3-4E16-8B9B-656D0C9B0E65.jpg [View same] [iqdb] [saucenao] [google]
25711287

kek the plaintiffs names, a bunch of jew nobodies accuse tether of market manipulating and file a CIVIL Rico case against them to try and scare tether with treble damages, never selling faggot

>> No.25711336

>>25711192
>>25711287
No argument? No problem, idiots.

>> No.25711401
File: 142 KB, 2250x1224, Eq5sSGPXEAAd9gP.jpg [View same] [iqdb] [saucenao] [google]
25711401

>>25711146
Tether can print infinite amounts of (worthless) $USDT.

They then inject this into BTC, ETH, LTC, (and others) to cause prices to pump.

Notice how during the months they stopped printing Tether, the market moves sideways or drops significantly.

This graph also shows the extent to which USDT plays a role in Bitcoin's price action over the years.

Without USDT, Bitcoin wouldn't have reached 35K+

The majority of funds flowing into Bitcoin is from Tether.

When Tether ultimately meets its fate, the market will see a major correction as the lawsuit highlights how BTC isn't actually worth the insanely high prices you're seeing now.

Considering these bull runs are mostly caused by price manipulation, FOMO, and hype, I don't expect it to last long.

The Bitcoin bubble will likely pop, and see large amounts of its market cap disappear in the months following Tether's demise.

>> No.25711430

>>25711336
No proof? Yep your still a faggot

>> No.25711471

>>25711430
You were given proof though, idiot. You're in denial.

>> No.25711483

>>25711287
When the Jew audits you, be scared

>> No.25711541

>>25711146
post short position

>> No.25711549

>>25711287
>Pinchas Goldshtein
>Goldshtein
you literally can't make this shit up, this fucking jews name is GOLD STEIN

>> No.25711614
File: 1.73 MB, 1873x4609, exitscam.png [View same] [iqdb] [saucenao] [google]
25711614

>>25711146
$1T dollar exit scam coming.

>Print $400M tether when BTC dips and can't hold a resistance point
>That USDT gets shuffled from Tether to conspiring exchanges who "buy it" so they can buy BTC with it
>BTC pumps because mass orders are placed
>Exchanges now have BTC worth 2x the value
>Sell off some BTC
>It starts dipping again
>Tether printer go BRR
>Repeat

See pic related. They ramped up massively the past 4 weeks.

>> No.25711657
File: 292 KB, 1188x1200, exitscam2.jpg [View same] [iqdb] [saucenao] [google]
25711657

>>25711614

>> No.25711695

>>25711614
And voila it’s literally that easy, kek you don’t even know how stupid you sound, a bunch of reddi t detectives with 0 finance experience caught em again! you know they could use liquid side chain at anytime if they really wanted to conceal their actions?

>> No.25711853

>>25711401
As the lawsuit comes closer, Tether is printing more and more money. My guess is they know they will be found guilty, and are trying to get as much money as possible.

Once this scheme is made aware to the general public, I believe it will be one of the largest scams ever.

In more recent news, the U.S Treasury is also supposedly considering new legislation that would deem stable coins as securities, which would allow SEC to sue Tether.

>> No.25711983

>>25711853
Think about what happens if they do that and tether goes from usdt paired to yuan paired and then think about what that means when tether can do whatever they want then unchecked and if the us is dumb enough to allow that, they’ll push tether and Bitfinex but never too far . Nobody needs the usd anymore

>> No.25712415 [DELETED] 

>>25711146

>> No.25712473

>>25711287
>Goldshtein
Schiff's faggot ass is laughing his ass off right now

>> No.25712801

>there is an increase of stable coin supply when there is simultaneously a huge rise in demand of stablecoin and everything crypto

guys, guys, i think this is a huge conspiracy. it just doesnt make sense, is everyone blind??? am I not the only one who's not crazy!?!?!?