Here are some facts to consider:- Bitfinex & Tether have been cooperating with New York Attorney General on the ‘seized’ funds case since November 2018.- Out of a sudden NY AG releases a report, leaving the responder in total ignorance.- The report is magically spread all over the web within a couple of hours. In 3-4 hours all the major media already publish some sort of articles with dramatic headlines, teeming with words like ‘fraud’, ‘accused’ and so on.- The report itself didn’t contain any detrimental language. The allegations were clearly presented as allegations. The aim of the report was to figure out to which extent the NY investors could have been affected.- Bitfinex and Tether haters snicker and give it ‘I told you’ / ‘Bitfinex and Tether are doomed’ comments.- Panicking investors transfer millions out of Bitfinex.- P.S. I’ll omit the fact that NY AG has a very questionable reputation (to say the least), with siphoning off taxpayers’ funds (the sum was just under the Bitfinex’s presumed loss – a humble $750M): https://www.nydailynews.com/new-york/letitia-james-spent-750g-taxpayer-matching-funds-easy-race-article-1.3688795Disclosure: Yes, I’m a Tether holder and have an account on Bitfinex.Nevertheless, it all looks like an organized attempt to undermine reputation, with material losses incurred to the responder as a result.Yes, I’m fine with the fact that Tether is 74% backed. It’s better than any bank.And what we are seeing now is an attempt to hit the crypto system, which will benefit the traditional centralized financial system indeed. So is the haste with which the report was released connected with the big money? I think that yes.Should Tether be delisted?Say ‘yes’ if you miss the good old banking system. Or choose to use your brain and say ‘No’ to all this FUD and panick you're involved into by the US government, biased media and pseudo experts on Twitter. At least till all the facts are laid out by Tether.
Submitted May 02, 2019 at 09:59PM
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