02-03-2023, 08:40 PM
How TF is TETHER still alive !
<!-- SC_OFF --><div class="md"><p>Coffeezilla has been exposing the Tether scam for almost two years now. Even as a crypto believer (long-term), it’s been fascinating to see this scam survive this long despite being repeatedly exposed.</p> <p>The crazy thing is, tether skeptics have repeatedly been proven right on the facts. The initially-denied bitfinex/tether relationship was revealed in the paradise papers. The fact that it was not 1:1 cash backed was confirmed by the NYAG investigation.</p> <ul> <li><p>Tether and Bitfinex CEO J. L. van der Velve used to sell a product he claimed could transform the nicotine in cigarettes into vitamins - and suggested it allowed you to smoke 300 per day.</p></li> <li><p>Their chief council, Stuart Hoegner, once held all of the Tether backing reserves in his personal Bank of Montreal account co-mingled with his lunch money, one assumes. He was also director of compliance at Excapsa, parent company of Ultimate Bet, where they had a backdoor interface allowing their friends to see their opponents cards. </p></li> <li><p>Giancarlo Devasini , their CFO, is a former plastic surgeon (for about a week) who had to pay a $65,000 fine for pirating Microsoft software in 1996 and was then sued by Toshiba for infringing some of their DVD patents. </p></li> <li><p>Tether was co-founded by former Mighty Ducks cast member Brock Pierce, the guy who fled to Spain with Mark Collins-Rector while he was an indicted fugitive on child sex trafficking charges. They were then both arrested in a villa full of child pornography.</p></li> <li><p>None of the leadership team wanted to admit they were involved in Tether until it came out in the paradise papers because they used Appleby. Because of course they used Appleby. </p></li> <li><p>The guy who runs their banking partner, Deltec and Moonstone , was the creator of Inspector Gadget - Jean Chalopin. </p></li> </ul> <p>The scamminess of Tether is pretty much obvious to everyone in the crypto world at this point .I believe the explanation might be that Tether fills an absolutely essential role in providing liquidity to Crypto markets. So fundamental that everyone allows it to continue to operate in spite of knowing how rotten to the core the whole thing is.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/Primary_Technical"> /u/Primary_Technical </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/10sm2ol/how_tf_is_tether_still_alive/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/10sm2ol/how_tf_is_tether_still_alive/">[comments]</a></span>
<!-- SC_OFF --><div class="md"><p>Coffeezilla has been exposing the Tether scam for almost two years now. Even as a crypto believer (long-term), it’s been fascinating to see this scam survive this long despite being repeatedly exposed.</p> <p>The crazy thing is, tether skeptics have repeatedly been proven right on the facts. The initially-denied bitfinex/tether relationship was revealed in the paradise papers. The fact that it was not 1:1 cash backed was confirmed by the NYAG investigation.</p> <ul> <li><p>Tether and Bitfinex CEO J. L. van der Velve used to sell a product he claimed could transform the nicotine in cigarettes into vitamins - and suggested it allowed you to smoke 300 per day.</p></li> <li><p>Their chief council, Stuart Hoegner, once held all of the Tether backing reserves in his personal Bank of Montreal account co-mingled with his lunch money, one assumes. He was also director of compliance at Excapsa, parent company of Ultimate Bet, where they had a backdoor interface allowing their friends to see their opponents cards. </p></li> <li><p>Giancarlo Devasini , their CFO, is a former plastic surgeon (for about a week) who had to pay a $65,000 fine for pirating Microsoft software in 1996 and was then sued by Toshiba for infringing some of their DVD patents. </p></li> <li><p>Tether was co-founded by former Mighty Ducks cast member Brock Pierce, the guy who fled to Spain with Mark Collins-Rector while he was an indicted fugitive on child sex trafficking charges. They were then both arrested in a villa full of child pornography.</p></li> <li><p>None of the leadership team wanted to admit they were involved in Tether until it came out in the paradise papers because they used Appleby. Because of course they used Appleby. </p></li> <li><p>The guy who runs their banking partner, Deltec and Moonstone , was the creator of Inspector Gadget - Jean Chalopin. </p></li> </ul> <p>The scamminess of Tether is pretty much obvious to everyone in the crypto world at this point .I believe the explanation might be that Tether fills an absolutely essential role in providing liquidity to Crypto markets. So fundamental that everyone allows it to continue to operate in spite of knowing how rotten to the core the whole thing is.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/Primary_Technical"> /u/Primary_Technical </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/10sm2ol/how_tf_is_tether_still_alive/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/10sm2ol/how_tf_is_tether_still_alive/">[comments]</a></span>