From searching with google, all I have found is basically the same article.
Can anyone point me to the text of the subpoena?
Just what was Subpoenaed? Was it who? And when, when is what/who to appear?
Can't find the what/who/when.
Topic: Bitfinex just been subpoenaed by US regulators over tether (Read 321 times)
https://mobile.twitter.com/satoshilite/status/958427996209074176
Charlie Lee's take on the situation.
But this seems rather naive to me - https://mobile.twitter.com/SatoshiLite/status/958428292293390336
Charlie Lee's take on the situation.
But this seems rather naive to me - https://mobile.twitter.com/SatoshiLite/status/958428292293390336
Seems about right imo. The poster Marius question is pertinent "what happens when you take $2.2bn buy support out of the crypto economy". That's only 1-1.5% of bitcoin capitalisation, or 0.4% total capitalisation ($522bn) today. Also its not buy support, people sell bitcoin and other pairs to the convenience of USDT. So how much impact should it really have, other than effect on confidence?
So this could be the reason why the price just dumped over $1000 in the last 15-17 hours that I have been watching it.
Was wondering why it all the sudden it dropped in price.
They do hold alot of bitcoin for an exchange.
I think only behind coinbase/gdax in the states.
Was wondering why it all the sudden it dropped in price.
They do hold alot of bitcoin for an exchange.
I think only behind coinbase/gdax in the states.
So finally the FUD succeeded well played @bloomberg. Well, thanks to those who tried to spread awareness to as many as possible. Just found this article, good job guys.
https://coingape.com/cryptocurrency-prices-fall-amid-bloombergs-update-about-tether/
https://coingape.com/cryptocurrency-prices-fall-amid-bloombergs-update-about-tether/
That article is not well written at all with no counter argument other than
"Please do not panic and just because you’re reading from an enough old and reputed media channel does not mean it is true."
Their line does not even make sense.
I think most people are in agreement that something is not sitting right with tether we just have to sit back and see how it plays out.
Is it not note worthy that the push to 20K happened pretty quick after the subpoenas and it has dropped off since. Getting as much $ as they can before cutting it out or proof that this is FUD and that the surge had nothing to do with it. Would be a pretty ballsey to make a big play like that immediately after being put on notice that your on the radar.
So finally the FUD succeeded well played @bloomberg. Well, thanks to those who tried to spread awareness to as many as possible. Just found this article, good job guys.
https://coingape.com/cryptocurrency-prices-fall-amid-bloombergs-update-about-tether/
Yes, banksters will not stop FUDding, this is 2 months old news, they just removed the date in effort to bring the market down. https://coingape.com/cryptocurrency-prices-fall-amid-bloombergs-update-about-tether/
So finally the FUD succeeded well played @bloomberg. Well, thanks to those who tried to spread awareness to as many as possible. Just found this article, good job guys.
https://coingape.com/cryptocurrency-prices-fall-amid-bloombergs-update-about-tether/
https://coingape.com/cryptocurrency-prices-fall-amid-bloombergs-update-about-tether/
Seems about right imo. And the poster Marius question is pertinent "what happens when you take $2.2bn buy support out of the crypto economy". That's only 1-1.5% of bitcoin capitalisation, or 0.4% total capitalisation ($522bn) today. And its not buy support, people sell bitcoin and other pairs to the convenience of USDT.
It's not like 'dollars' elsewhere. It's brand new money entering and buying. A lot of real dollars in daily volume will have been floating back and forth for years on end.
Tether is turbocharged buying power.
So no one buys Tethers? No one buys other coins? The exchanges tell a different story.
Seems about right imo. And the poster Marius question is pertinent "what happens when you take $2.2bn buy support out of the crypto economy". That's only 1-1.5% of bitcoin capitalisation, or 0.4% total capitalisation ($522bn) today. And its not buy support, people sell bitcoin and other pairs to the convenience of USDT.
It's not like 'dollars' elsewhere. It's brand new money entering and buying. A lot of real dollars in daily volume will have been floating back and forth for years on end.
Tether is turbocharged buying power.
https://mobile.twitter.com/satoshilite/status/958427996209074176
Charlie Lee's take on the situation.
But this seems rather naive to me - https://mobile.twitter.com/SatoshiLite/status/958428292293390336
Charlie Lee's take on the situation.
But this seems rather naive to me - https://mobile.twitter.com/SatoshiLite/status/958428292293390336
Seems about right imo. The poster Marius question is pertinent "what happens when you take $2.2bn buy support out of the crypto economy". That's only 1-1.5% of bitcoin capitalisation, or 0.4% total capitalisation ($522bn) today. Also its not buy support, people sell bitcoin and other pairs to the convenience of USDT. So how much impact should it really have, other than effect on confidence?
This just a FUD. Don't know why a two-month-old news is again published as an update. Bitcoin is already under a lot of pressure from Government, it is a known fact that publishing a news like this at such a time would impact the prices max. The Bloomberg just did what it should not have. I got to know about this from this FB page who were quick to react and share the news.
https://www.facebook.com/coingape/
https://www.facebook.com/coingape/
They've always operated with a total disregard for regular niceties. Why would they let something like that stop them? They've gotten as far as they have with pure blag. They may as well wring out as much as they can.
That. Bitfinex has no moral problems with any of their actions affecting their users and indirectly the entire market. I am glad that I have never used that exchange, which would make me feel pretty stupid after their faked hack and USDT trash. The fact that they were never willing to get the required licenses alone should be a major red flag for everyone, but people ignore it like it isn't a problem at all -- their logic probably is that if Bitfinex was operating illegally, they would have been raided already. It's a ticking time bomb that at any moment of the day can make the market tank badly, and if it turns out to happen, it doesn't come as a surprise....
https://mobile.twitter.com/satoshilite/status/958427996209074176
Charlie Lee's take on the situation.
But this seems rather naive to me - https://mobile.twitter.com/SatoshiLite/status/958428292293390336
However he's Charlie Lee and I only used to be him.
Of the scenarios he outlined I think self fulfilling prophecy is the most likely one.
Charlie Lee's take on the situation.
But this seems rather naive to me - https://mobile.twitter.com/SatoshiLite/status/958428292293390336
However he's Charlie Lee and I only used to be him.
Of the scenarios he outlined I think self fulfilling prophecy is the most likely one.
This news just killed me today. Now it is worth attaining, because the fall can be very unexpected. 
But I'm sure it's worth waiting for, and not being nervous. 
But I'm sure it's worth waiting for, and not being nervous.
Hard to produce up to $2.3 billion to back fill a gap overnight to satisfy an audit though.
Would Bitfinex carry on dodgy practice after being put on notice they are under scrutiny?
More than likely. They've always operated with a total disregard for regular niceties. Why would they let something like that stop them? They've gotten as far as they have with pure blag. They may as well wring out as much as they can.
Hang on, subpoena near two months ago, but many recent blogs, report highlighting "printing" happen since then? Would Bitfinex carry on dodgy practice after being put on notice they are under scrutiny?
Another point that Bloomberg article raises is that the auditor may have been on a fishing trip, trying to find some fault. Of course, Tether would say that, but its a good point that it must be fairly easy to produce an audit for a blockchain.
Another point that Bloomberg article raises is that the auditor may have been on a fishing trip, trying to find some fault. Of course, Tether would say that, but its a good point that it must be fairly easy to produce an audit for a blockchain.
It may have been sent on Dec 6th but it hasnt been public knowledge until now.
Also the legal wheels turn slowly, the outcome doesn't happen overnight.
Also the legal wheels turn slowly, the outcome doesn't happen overnight.
Wait until the regulators crack the lid on the exchanges and start doing some audits.
The shit is about to hit the fan:
https://www.bloomberg.com/news/articles/2018-01-30/crypto-exchange-bitfinex-tether-said-to-get-subpoenaed-by-cftc
Apparently, bloomberg edited the article to put "sent subpoenas on Dec. 6"? meaning that this was almost 2 months ago.The shit is about to hit the fan:
https://www.bloomberg.com/news/articles/2018-01-30/crypto-exchange-bitfinex-tether-said-to-get-subpoenaed-by-cftc
So, would it be fair to assume that this was an attempt to shake up the market with FUD so that 'some people' can accumulate cheap BTC? or was it just an honest mistake? either way, it goes to show how fragile this market is (and has been for a while), a single headline is all it takes for the cryptocurrency market to drop in a matter of minutes (well, a headline and a few thousands of panic selling idiots).
No matter how this ends, it will be a good thing for Cryptos. Either they will prove Tether is legit, or it will end this scheme before it grows more.
FWIW, the Tether market doesn't look too worried ... holding at 99 cents.
FWIW, the Tether market doesn't look too worried ... holding at 99 cents.
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