Tether meanwhile is going fine (because no one knows how much money they have and in what banks). Ignorance is bliss smthn smthn
I remember everyone on r/buttcoin rolling their eyes about how obviously scammy tether was in like 2017, yet it's crawling along somehow 5 years later. The grift is unbelievable, not to mention the griftees.
lol I'd be surprised if tether had a penny separate from customer deposits through bitfinex that they haven't had time to lose
All your apes can't be gone if you've already sold them, embezzled the cash, and put them in a Swiss bank account in the name of a South Sudanese intermediary.
don't Swiss bank accounts still enforce money laundering policies? I'm pretty sure they move money for the cartels as a substitute for banking.
if you want a laugh, look into the crypto founders who wound up mysteriously suiciding themselves in strange circumstances after losing millions of dollars. (I'm not claiming that article is comprehensive - I remember reading about more than are listed there)
https://www.reuters.com/business/crypto-firm-circle-reveals-33-bln-exposure-silicon-valley-bank-2023-03-11/
Stablecoin USDC breaks dollar peg after revealing $3.3 billion Silicon Valley Bank exposure
$3.3b. Lmao.
We’re about to find out how many completely unregulated derivatives are out there on this shit :ancap-good:
MARK BAUMWhat did you just say? "Synthetic CDOs?" That is fucking crazy.WING CHAUIt's not, it's awesome!MARK BAUMAlright, let's say you have 50 million in subprime loans. How much money could be out there betting on it through these synthetic CDOs and swaps? Right now, tonight?WING CHAU50 million? A billion dollars.MARK BAUMWhat?JARED VENNETT (V.O.)If the mortgage bonds that Michael Burry discovered were the match...MARK BAUMHow much bigger is the market for insuring mortgage bonds than actual mortgages?WING CHAUAbout twenty timesJARED VENNETT (V.O.)If the mortgage bonds were the match, and the CDOs were the kerosene-soaked rags, then the synthetic CDO was the atomic bomb with a drunk president holding his finger over the button. It was at that moment, in that dumb restaurant with that stupid look on his face, that Mark Baum realized the whole world economy might collapse.
Crypto is awesome, it will replace fiat. We also need something called a "stablecoin" for the crypto ecosystem to function. Why is the "stablecoin" stable? Because it is pegged to USD or EUR, of course! DOOOOOH
Chat. Let's get some crabs going 🦀 🦀 🦀 🦀 🦀 🦀 🦀 🦀 🦀 🦀 🦀 🦀 🦀 🦀 :crab-party: :crab-party: :crab-party: :crab-party: :crab-party: :crab-party: :crab-party: :crab-party: :crab-party: :crab-party: :crab-party: :crab-party: :crab-party: :crab-party: :crab-party: :crab-party: :crab-party: :crab-party:
:crab-party: :crab-party: :crab-party: :crab-party: :crab-party: :crab-party: :crab-party: :crab-party: :crab-party: :crab-party: :crab-party: :crab-party: :crab-party: :crab-party: :crab-party: :crab-party: :crab-party: :crab-party: :crab-party: :crab-party: :crab-party: :crab-party: :crab-party: :crab-party: :crab-party: :crab-party: :crab-party: :crab-party: :crab-party: :crab-party: :crab-party: :crab-party: :crab-party: :crab-party: :crab-party: :crab-party:
