• Is Tether the FTX on Steroids?

    From Hisler@21:1/5 to All on Mon Nov 21 12:48:25 2022
    XPost: alt.survival, talk.politics.misc, alt.fan.rush-limbaugh
    XPost: alt.politics.usa

    https://www.revolver.news/2022/11/sam-bankman-fried-ftx-on-steroids-is-cryptocurrency-tether-joe-biden-crypto-bcci/

    “I have a soft spot for thinking kindly of crypto-libertarians, but they
    all go Ponzi Mindset when it comes to Tether,” he said. “In order to be congruent and confident in the future they need to believe Tether isn’t
    a burning bag of shit overlayed on top of a flaming diarrhetic volcano. Everything that in retrospect looks super shady and how-did-they-get-away-with-it-for-so-long for FTX is WNBA-tier compared
    to the 1994-Olympics Dream Team of Schemes that is Tether.”

    That’s the defense of Tether from somebody who uses crypto: that Tether
    is an obvious scam, but with so much crypto speculation going on and so
    much short-term profit to be had, it’s better to just not think about it.

    So, if Tether is so obviously shady, what might explain its stability
    even as the surrounding crypto ecosystem burns down? Some key fact is
    missing.

    There is, for example, the strange coincidence of Tether being a crypto
    of choice for a U.S. government-backed rebels in Myanmar.

    https://www.revolver.news/2022/11/sam-bankman-fried-ftx-on-steroids-is-cryptocurrency-tether-joe-biden-crypto-bcci/

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