RE: tether FUD

[Anonymous No.25687677]

As someone that works at a high level in the industry here in Asia (will not name country for privacy reasons), I will post one thing: Tether collapsing will not happen on January 15th or whatever everyone is spouting.

From what we offered told Tether does NOT have a 1:1 backing , but are currently approaching funds and offering a mix of discounted SAFT tether and Bitcoin as collateral for USD loans.

Even our small fund (AUM >$500m, small relative to other players, relatively well known though) was approached and given an offer that my bosses are seriously considering (for reference, I'm against it, and don't know the EXACT terms, but if they are seriously considering it, it must be promising).

>TLDR;
>Tether is actively working to prove reserves >prior to the "deadline" and will most likely >succeed using "borrowed" funds. Then the >FUD will disappear and everything will go >back to normal...

[Anonymous No.25687721]

>>25687677
Get redpilled on tether bogging the industry
>>25643688

One point added to your social credit score comrade OP

[Anonymous No.25687777]

>>25687677
Source: trust me bro.

[Anonymous No.25687840]

>>25687777

desu idc, wait till the 15th or whatever deadline you have, realize that tether somehow magically has the cash reserves (borrowed)
and life goes on.

Months later when SAFTs become unlocked and distribution starts, maybe you'll understand what I'm telling you now.

[Anonymous No.25687872]

>>25687677
They should have proven their reserves years ago. And they should prove it again every quarter. Not wait for some lawsuit to sow FUD in the market.

[Anonymous No.25687895]

>>25687840
What tether safts are you talking about? This is the first time I hear about it.

[Anonymous No.25688026]

>>25687895


I don't have the full details since I wasn't present on the call, and only briefed by one of my colleagues but basically this Tether thats being "printed" actually were somewhat backed by real USD sold at a discount. ex: 1 Tether = $0.97 but with a X month lockup. So tether immediately gets the cash, and us funds are able to guarantee returns, but what they are doing now is offering a(much) bigger discount along with Bitcoin in exchange for "loans" , (basically SAFTs but they are calling it loans).

My thoughts are they will have enough to cover the reserves but we will see a huge tether printing spree after the next 6-12 months.

[Anonymous No.25688163]

>>25688026
This sounds shady AF.

[Anonymous No.25688207]

>>25688026
basically how I am understanding it worked in the past
(Note: these numbers are made up and just for reference)

Tether sells 250m USDT for $240m but with a 6 month lock.

Fund purchases.

Tether reserves = +240m USD
then assuming there were no more prints , 6 months later =-10m USD right?

But what if they were striking deals constantly the past few months with funds and institutions , they would continue to operate with positive reserves right? (even though its a ponzi)

anyways i believe a tether collapse will occur eventually, but from what I have been briefed on and from what my peers are saying January 15th or whatever is not the date.

[Anonymous No.25688304]

>>25688163
It is because it's not just the tether printing, they make money manipulating the market this way.

Ie: Tether prints 500M > Uses it to purchase BTC with it > BTC pumps > The market fomos in > They start unloading BTC at 2-3x the value > Repeat

They put the Federal reserve to shame with their Chink scam. Pull out everything to fiat and load up on bear leveraged tokens and you'll make millions this year.

[Anonymous No.25688412]

>>25688304
Its not necessarily Tether purchasing the BTC ( they might be, who knows), but keep in mind too that alot of funds are getting their discounted Tether unlocked at the moment, and holding tether doesn't exactly bring returns, so its converted into other assets...

[Anonymous No.25688430]

>>25688304
>bear leveraged tokens
I'm too much of a newfag to understand this sentence, so I would recommend other newfags to not follow this advice.

[Anonymous No.25688505]

>>25687677
https://www.courtlistener.com/recap/gov.uscourts.nysd.524076/gov.uscourts.nysd.524076.154.0.pdf

here is the lawsuit against Tether. i encourage every anon in this thread to take a minute and skim it, or at least the table of contents. Tether is fucked. They have RICO charges against them. China already banned Tether.

[Anonymous No.25688529]

>>25688026
sounds to me like Tether is frantically trying to get enough money to cover their reserves. That's shady and I would encourage you and your company not to take them up on that offer, to protect the investment of your customers.

[Anonymous No.25688649]

>>25688529
yup I'm against it but I'm a peon and my bosses make the final decision, but basically the speed of how aggressive they are ramping up their "business development" is alarming.

We are really a small fund among the other guys out there, and the fact that they reached out to us should be a red flag desu, who knows though =/ maybe the big fish aren't biting anymore

[Anonymous No.25688666]

>>25688505
HAHAHAHAHA HOLY SHIT, GET READY TO GET ASSRAPED INTO OBLIVION

[Anonymous No.25688780]

Hi OP. Can you make it clear for me as if I am 5yo?
So basically their model was:
sell 250 usdt for 240 usd and lock USDT for some term (6 months)
Then they somehow "use" (what could it be?) those 240mio usd to generate income that is more than 10mio so in the end this deal results in profit for them and their balance is ok?
What is the purpose of such a risky business? Like they held btc and by providing "cheap" USDT to investors where trying to make them pump BTC so Paolo can dump it? If so they would have shitload of money to cover any difference in Tether Treasury balance because BTC pumped hard. And they are 100% not interested to exit scam because this "scheme" could continue to work.
Sorry for my English.

[Anonymous No.25688877]

>>25688649
Good lord they need the fall guys and you're their bailout button.

[Anonymous No.25688908]

>>25687721
This thread is fucking scary. Someone should inform /biz/rael right fucking now.

[Anonymous No.25688964]

>>25688780
look I'm literally a lowly analyst, and I wasn't on the meeting with Tether but yeah you are right. Basically sell 250M USDT for 240M USD cash with a lock. Tether now has 250M, pretty easy to make 10m with 250m in 6 months right? I dont know how they did it though.

Honestly I have no idea.

Maybe they didn't do anything and just kept selling SAFTs to institutions and funds, like a ponzi, but always having positive reserves. I really don't know man, but tether is huge, and they have so much leverage within the high level of the industry that none of us are falling for the "FUD" and think the ponzi can go on for alot longer before it collapses

[Anonymous No.25689016]

>>25687677
+20 Billion in liquid reserves? I don't think so.

One of 2 things will likely happen in the next few weeks.
>Once the suit goes to court Tether is immediately blocked and the chain reaction of illiquidity and lack of confidence destroys Tether and crashes Bitcoin.

>Tether prints nonstop during the court hearing and bringing a few short weeks of false confidence while many exchanges in the market attempt to take the money and run. Crashing bitcoin.

[Anonymous No.25689073]

>>25688964
Thank you for reply. So all in all it sounds as "too big to fail".

[Anonymous No.25689127]

The collapse will be something else.

[Anonymous No.25689181]

>>25688505
looks weak af, they literally have paragraphs in the beginning sayng things like "yeah there's never smoking gun evidence for conspiracis so you always need to use inference and assumptions to find them"aka they ain't got shit, and it will be a bg nothingburger, maaaaaybe a fine for the conversation about where they want the public to ot now it isn't backed but if thy have money by borrowoing, they have it. All financial markets work like that, it's dudes spending money they borrow form other dudes and that money isn't even there yet

[Anonymous No.25689218]

>>25688964
if you're a larper this is honestly the best tether fud i've read, and i'm an obsessed nutjob who spends 10 hours per day on /biz/, r/buttcoin, blogs, reading court papers
occam's razor applies and your theory makes perfect sense. down to the asian funds thing, as despite being highly civilized also have a cultural tendency to fall for ponzis

[Anonymous No.25689246]

>>25687677
don't give it to them lol

[Anonymous No.25689285]

>>25687677
If the tether FUD is true, there'll be a correction. Idgaf. I'm so far in the fucking green. Bring it.

[Anonymous No.25689372]

>>25689016
They printed 2 billion this year. Either they're desperate or don't give a fuck about pretenses anymore.

[Anonymous No.25689438]

>op says his fund doesn't believe in the tether fud
>/biz/ nocoiners use op's words to fud tether

[Anonymous No.25689571]

>>25689372
USDC which is assumed super-extra-ultimate-compliant is nearly 5b market cap. USDT is 23b.
In fact USDT is almost everywhere and USDC was introduced much later and is used only on coinbase. So why are you nervous about 2b of USDT printed?

[Anonymous No.25689719]

>>25687677
thats not how it works, lol.

[Anonymous No.25689912]

>>25689571
If you're not nervous about 2 extra billion being printed in A WEEK while USDC managed to grow to measly 5 bil over years then idk what to tell you.

[Anonymous No.25690093]

so OP's retarded ass company is agrees to lock up their cash for months in tether? Lmao, this has got to be the most retarded way possible of entering bitcoin. Seriously a 50 IQ play. Congrats

[Anonymous No.25690098]

>>25689571
Doesn't that ring alarm bells with you? Everyone knows USDC is fully audited and compliant.

If you were a hedge fund or a billionaire, why would you choose to mint with the one that has RICO charges laid against it?

2B in less than 3 weeks, almost half or USDC's entire market cap in 2 weeks. It doesn't pass the smell test

[Anonymous No.25690329]

>>25690098
This. Only way it makes sense is if tether is just money launder central for all the billionaires and kingpins/ rich saudis and shit

[Anonymous No.25690384]

>>25687677
is it time for /tether schizo generals/?

[Anonymous No.25690604]

>>25687677
>>Tether is actively working to prove reserves >prior to the "deadline" and will most likely >succeed using "borrowed" funds. Then the >FUD will disappear and everything will go >back to normal...

Literally anyone with two brain cells could have told you this. However the problem with your larp is that a audit also looks into where money is coming from and going. The question isn't whether or not a multi billion dollar company can fudge the books, of course they can, only a complete fucking idiot would think they cant.

The question is how thorough the audit will actually be, but again, Tether can and will pencil whip that shit together. Chances are very very likely that this is a huge nothing.

[Anonymous No.25690635]

>>25689218
based post

[Anonymous No.25690721]

>>25690604
Last time tether did an "audit" it was by some white shoe law firm, not an accountancy

[Anonymous No.25690758]

>>25688505
What audit have they done to prove any of this?

[Anonymous No.25690880]

>>25690758
this, all "big company bad" story but no proof

[Anonymous No.25691048]

>>25690880
Okay that's basically what I figured. So this really is the "release the tether fud" bog shit. They have no proof, no audit conducted yet, even if they get to do an audit, big company fudge number. Grog not that poor brain

[Anonymous No.25691819]

>>25689372
You mean tether printed 2b the last couple of days, right anon?

[Anonymous No.25691997]

basically how the fuck do i profit from this and should i usdcether up in 5 days

[Anonymous No.25692055]

>tether fud
thinking multi billion dollar company's cokehead shark lawyers aren't going to completely wipe the floor with shitty public school government lawyers

[Anonymous No.25692190]

>>25690758
No you fucking nigger. When the government slaps a RICO case on you, its YOU WHO HAS TO PROVE EVERYTHING IS LEGIT.

The feds dont have to ‘audit’ you. All they have to say is, this company claims that everything is tiptop and above board. But they wont show proof.

Incase you retards don’t understand what a RICO case is, its basically a legal fuckery way of instantly convicting a group of people. Al capone, mob bosses and jewish businessmen go to prison for RICO cases all the time.

[Anonymous No.25692191]

>>25692055
aw shit nigga I mistyped my second greentext symbol