/biz/ - Business & Finance

[Anonymous No.25988800]

HOLY SHIT
https://www.coindesk.com/tethers-bank-says-it-invests-customer-funds-in-bitcoin

[Anonymous No.25988911]

>>25988800
@9K. They 4xd their investment.

[Anonymous No.25988937]

they are unironically smarter than any bank on this planet

[Anonymous No.25988979]

>>25988800
Lmao shorters are getting absolutely raped there’s like 10 tether fud and ledger fud threads wow

[Anonymous No.25989046]

>bought at 9k
based

[Anonymous No.25989072]

>>25988800
HAHHHAHAHHAHAHHA

Come on SEC. Take these niggers down.

I need to buy more

[Anonymous No.25989104]

is this legal?

[Anonymous No.25989218]

>>25989104
No it is not anon you fucking idiot

[Anonymous No.25989245]

>>25989104
BWAHAHAHAHAHAHAHAHAHAHAHAHAHAHA

[Anonymous No.25989419]

>>25988800
>tether has 4x as much collateral now
>tethers are not backed by anything
choose one fudders

[Anonymous No.25989457]

Ohhhh nooooo a bank used customers funds in their investments. Oh wait, every bank does that.

[Anonymous No.25989535]

>>25989419
>print fake money to buy real asset to pump the value of said asset then claim its backing your worthless currency

Do you think the Federal government is going to continue to allow the existence of a literal infinite money machine?

Its bye bye for a while for USDT

[Anonymous No.25989680]

>>25989535
Isn't the federal reserve a literal infinite money machine now though? By tether infinitely printing money they are having usdt act exactly like the usd which makes usdt the best stablecoin at copying usd

[Anonymous No.25989806]

>>25989680
Difference is USD is required to pay tax in the us and is basically the reserve currency so always has demand, usdt is air and has no intrinsic value

[Anonymous No.25989824]

>>25989680
Yes anon but why the fuck would they let some randoms from the bahamas do that?

Do you understand it you stupid nigger?

[Anonymous No.25989899]

>>25989457
My bank doesn't issue me tethers when I deposit money in my bank account though. This is completely different

[Anonymous No.25990083]

>>25989899
your bank's bank does

[Anonymous No.25990345]

>>25989824
Based Bahama randoms in my opinion bombaclaat

[Anonymous No.25990759]

its all fun and games until bitcoin actually crashes and bitfinex/binance don't have enough funds on hand to let the horde cash out

[Anonymous No.25990845]

>>25989680

the "infinite money machine" of the federal reserve is backed by the vicious might of the military industrial complex
tether is backed by paolo's "trust me bro"

[Anonymous No.25990875]

>>25989218
What part of Bahamas Law did they break? The only illegal thing that happened was Bitfinex tapping Tether for 850 million dollars. If the SEC wants it to be illegal they should regulate the fucking space instead of treating it like a shiny rocks and chickens market.

[Anonymous No.25991020]

>>25988911
retard they are multiplying money. the issued tether was used to buy bitcoin and the money who is supposed to be backing the tether was also used to pump bitcoin. do you not see the problem you dumb brainlet?

[Anonymous No.25991035]

So even if the USD was real to begin with, the money is being spent TWICE ...

Person A give $1M USD to Tether, gets $1M USDT in return.

1) Person A buys $1M worth of BTC with that $1M USDT.
2) Tether takes Person A's $1M USD in reserve and buys $1M of BTC for the reserve.

So, $1M USD inflow generated $2M USD worth of BTC purchases.

... and this assumes the USD was real to begin with.

So either $1M USD becomes $2M buys of BTC or ZERO USD becomes $1M buys of BTC if pure printing.

SHIT STAIN

[Anonymous No.25991238]

>>25990875

false advertising is illegal everywhere buddy. tether is supposed to be backed 1:1 to USD. then they expanded it to cash equivalents. then they expanded it again to include bitcoin itself (and likely other shitcoins). its fraud

[Anonymous No.25991325]

>>25990759
This

[Anonymous No.25991472]

>>25988800

[Anonymous No.25991733]

>tether buys btc for their usd
>btc increases
>tether prints more tether to reflect btc price increase
>tether uses new tether to pump btc
>loop
The money is more than double spent

[Anonymous No.25991761]

hoping for cheapies tommorow

[Anonymous No.25992141]

Holy shit it's real

[Anonymous No.25992292]

>>25989104
https://m.youtube.com/watch?v=3g2e_nEX9H0&feature=emb_title

[Anonymous No.25992427]

>>25990759
Fuck knows how much the same Tether has been used to pump BTC up.
First ones out of the door win when the shit starts.

[Anonymous No.25992485]

>>25988979
>ledger fud

[Anonymous No.25992495]

>>25988800
its LITERALLY a ponzi

[Anonymous No.25992543]

>>25990759
They are by law required to have enough.

[Anonymous No.25992549]

Tether could be backed by nothing but Dogecoin, and they would still be more solvent than your bank

[Anonymous No.25992945]

>>25992543
I think that's the point of the lawsuit

[Anonymous No.25993083]

>>25992543
>>25992945
You guys are retards
Let’s say everyone opdecides to go to fines to cash out, including from cold storage
How exactly are they going to cash out all of Bitcoin? Dumb niggers

[Anonymous No.25993207]

>>25992543

logically explain to me they would have enough USDT/USD to give out if bitcoin crashed and everyone converted to USDT or sold to USD, WHILE the value of USDT itself is backed by the value of BTC

[Anonymous No.25993219]

>>25989104
Legality has never mattered.

[Anonymous No.25993228]

>>25992543
hahahhaahahhaaha

[Anonymous No.25993245]

>>25993207

>logically explain to me how...*

[Anonymous No.25993420]

>>25992543

[Anonymous No.25993498]

>>25992543

[Anonymous No.25993552]

>>25988937
Yep

[Anonymous No.25993595]

>>25993207
same effect as a run on a bank you retard

[Anonymous No.25993600]

>>25989218
Idiot who doesn't understand how banks work

[Anonymous No.25993659]

>>25991238
>tether is supposed to be backed 1:1 to USD.
It is. It's not the tether buying Bitcoin, it's the bank. Which also belong to Bitfinex, but is a different entity alltogether.
As far as Tether is concerned they see USD on their account, the bank is doing the BTC flipping, increasing the USD in the account.

[Anonymous No.25993952]

So at this point everybody involved with bitfinex should be hanged right?

[Anonymous No.25994001]

>>25993595
That's what they're saying is going to happen you turbo brainlet.

[Anonymous No.25994132]

Think of Tether as an X2 leverage long on bitcoin, except there's no liquidation mechanism because it doesn't look like they do token burn much and there's not a lot of redemption of it for real USD.

[Anonymous No.25995176]

>>25994940
tethered

[Anonymous No.25995258]

GET THE FUCK OUT OF TETHER AND INTO BITCOIN WTF THIS IS GOING TO MAKE BTC 100X

[Anonymous No.25995263]

>>25989104
I will make it legal

[Anonymous No.25995321]

literally how every single bank operates, yawn

[Anonymous No.25995368]

>>25988979
>haha dude the scammers are still running their scam lmao that means they're not scamming haha

[Anonymous No.25995463]

>>25995321
banks don't give you chuck e cheese tokens that you can spend


guys, did tether just unsolve the double spending problem???

[Anonymous No.25995492]

>>25995463
that's exactly how the central banking system works, dummy

[Anonymous No.25995529]

they'll just throw those responsible under the bus quietly and then actually back their shitcoin now and we'll reach 30k as floor

[Anonymous No.25995572]

>>25993659
>>25994132
congrats anons, you're gonna make it

if this was the 1600s duch stock exchange the same fudders would be seething about short sale contracts

[Anonymous No.25995586]

>>25995492
yeah and the central banking system is a collapsing scam that is currently attacking tether for being a competing scam

[Anonymous No.25995608]

>>25989899

Uhhh... anon. They do, and people spend them everywhere.

[Anonymous No.25995622]

>>25995463
>banks don't give you chuck e cheese tokens that you can spend
they do, they're just called dollars

[Anonymous No.25995630]

>>25995586
yeah, so?

[Anonymous No.25995649]

>>25995622
PRIVATE banks anon
banks can't spend funds you withdraw

[Anonymous No.25995651]

>>25988800
What's wrong? A bank that acts like a central bank, creating money from nothing. Also same bank gambling with the alleged money the brainlet gave them. What of the btc price would have gone down? Have you read their T&Cs saying they will gamble with the money you deposit? Have you agreed to that? This is a RICO lawsuit. Remember this "Don't steal, the government hates competition"

[Anonymous No.25995678]

>>25995630
only one scam in town. the scam of last resort

[Anonymous No.25995698]

Jesus reading this thread really confirms that tether fud fags dont actually understand shit. Fucking midwit tier to miss out on crypto because tether fud kek. It’s happening exactly like last bullrun with these fags screeching tether all the way up till they finally buy at like 17k before losing money and screeching more about tether

[Anonymous No.25995786]

Literally fomo'd back in just now. They have more than enough reserves to back all their shit and I expect prices to rocket up after the fud has been dispelled.

[Anonymous No.25995879]

oh my
>Customer buys tether to buy BTC
>whenever this happens they invest that into a leveraged btc position

I have no doubt that in dollar terms they have the funds if they crashed btc.

[Anonymous No.25995909]

bobos last hurrah. first act is the short. next act is liquidation. and the best for last, the final act is rope.

see you next rally bobo's, none of you will make it.

[Anonymous No.25995978]

>>25995879

I also have no doubt that the thousands of btc whales and exchanges who need tether to be solvent wouls have no problem helping them appear solvent when necessary.

[Anonymous No.25996304]

>>25991020
That sounds like the perfect recipe for a megapump that will never end. The golden bull is real and it has tether to thank.

[Anonymous No.25996764]

>>25995263
based

[Anonymous No.25996840]

https://www.youtube.com/watch?v=O0cD2t45jcM

^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

Fed Chair Jerome Powell talking about stablecoins RIGHT NOW

[Anonymous No.25996905]

>>25996304
Jesus noob
2017 btc pump was also tether testing their pump scheme out. Their plan is either to exit scam on a huge proportion or become the new standard

[Anonymous No.25996951]

>>25996304
Or they could stop and make it look like a natural dump and then do it again in 3.5 years

[Anonymous No.25997068]

>>25995786
CRAB-17 meet CRAB-21

[Anonymous No.25997571]

>>25992543
HA HA HA HA HA!

[Anonymous No.25997623]

>>25988979
This
It's getting pathetic

[Anonymous No.25997673]

>>25991035
Banks literally do this so the time

[Anonymous No.25997809]

>>25995368
Keep coping

[Anonymous No.25997846]

BTC Is dead, therefore all crypto is dead. the ECB and IMF want it regulated globally. they have also deemed it not to be a currency.. You really thought you were going to make it? LOL.
>queen of jew bankers rug pulls you
>>25997405

[Anonymous No.25998066]

>>25997846
BTC just flash crashed on Binance to 1.50$
WTF?!

[Anonymous No.25998662]

>>25992543

[Anonymous No.25998754]

>>25993659
that's pretty neat. for ever dollar that comes in you get 1 tether and also one dollar to invest in crypto

pretty spicy.

[Anonymous No.25998860]

>>25995321
Banks can do this fraction reserve shit because they're monitored by a central banks for when the shit hits the fan.

Bitfinex/Tether is a fraction reserve bank operating with no oversight and the Fed knows about it.

"And we've been very focused as you know on better regulatory answers for potential global stablecoins in particular, so that's been a high level focus and will continue to be a high level focus because they could become systemic risks."

https://youtu.be/O0cD2t45jcM?t=1719

[Anonymous No.25998953]

>>25995698
There are plenty of stocks that can 4x easy I just 3xed on one two months ago,

You really think bitcoin is going to hit 100k with a double top?

[Anonymous No.25999433]

>>25988800
Bullish for BoringDAO and Asian projects that don't have to give a fuck.

[Anonymous No.25999474]

literally no one with money cares
have fun staying poor faggots