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ALRIGHT i've come upon the transcript of the @paoloardoino interview and i'ma rip it apart before work. Cause it'll be fun destroying a fraudster :D
Link: https://amycastor.com/2021/01/10/tethers-paolo-ardoino-stuart-hoegner-do-a-podcast-transcript-and-comments/
#Fintwit #Tether #bitcoin
#BTC $BTC #Ethereum #ETH $ETH #USDT $USDT #XRP $XRP #BNB 
$BNB #LINK $LINK
Link: https://amycastor.com/2021/01/10/tethers-paolo-ardoino-stuart-hoegner-do-a-podcast-transcript-and-comments/
#Fintwit #Tether #bitcoin
#BTC $BTC #Ethereum #ETH $ETH #USDT $USDT #XRP $XRP #BNB $BNB #LINK $LINK
"Issued tethers are authorized tokens in actual circulation, and they have been sold to customers by Tether and are fully backed by Tether and the reserves, unless, and until they’re redeemed."
So that'd be Circulating supply, or $24,23 Billion. Just so we're clear.
So that'd be Circulating supply, or $24,23 Billion. Just so we're clear.
"If you get hold of the private keys, you can really issue any amount of tethers you want."
Guess who already has them. Entire keys section is gibberish.
"Because then you can see that we are issuing round numbers, like $200 million, right?"
Jan 10th increase:
Guess who already has them. Entire keys section is gibberish.
"Because then you can see that we are issuing round numbers, like $200 million, right?"
Jan 10th increase:
" we learned how much tethers we should authorize in advance and keep it on the shelf in order to make these tethers available as soon as they are needed"
CMC lists Total supply too - and that has been jumping daily too to keep up with circulating. They're outprinting the shelf.
CMC lists Total supply too - and that has been jumping daily too to keep up with circulating. They're outprinting the shelf.
"Stuart: Sure. So redemptions are just when customers send their tokens back to tether and they get fiat back and return."
WELL GUESS WHAT!
TONIGHT THE SUPPLY REDUCED BY ~38 MILLION!
AND IF I DON'T SEE 38 MILLION ON https://app.flipsidecrypto.com/cooperative/tether GO BACK TO THE MINT THIS IS A LIE!
WELL GUESS WHAT!
TONIGHT THE SUPPLY REDUCED BY ~38 MILLION!
AND IF I DON'T SEE 38 MILLION ON https://app.flipsidecrypto.com/cooperative/tether GO BACK TO THE MINT THIS IS A LIE!
"We were born in crypto, but we want to go on a global scale."
Picture added how that's not happened even with their expansion and they're fudging their own growth:
https://coin.dance/volume
If the Bitcoin trading market hasn't grown, the Tether trading market hasn't grown.
Picture added how that's not happened even with their expansion and they're fudging their own growth:
https://coin.dance/volume
If the Bitcoin trading market hasn't grown, the Tether trading market hasn't grown.
Considering most use for Tether is in Bitcoin:
https://coinlib.io/coin/BTC/Bitcoin
"tether has an outstanding compliance program."
It's called a "Front" Paolo. Tether has an excellent Front. It what goes on in the Madoff basement that's the problem.
https://coinlib.io/coin/BTC/Bitcoin
"tether has an outstanding compliance program."
It's called a "Front" Paolo. Tether has an excellent Front. It what goes on in the Madoff basement that's the problem.
" Also, tether will share information with law enforcement when given valid legal process"
Bullshit too: https://twitter.com/BennettTomlin/status/1130971622905700353
@paoloardoino You've done nothing but hamper the legal process with bullshit appeals that the judges say make no fucking sense.
Bullshit too: https://twitter.com/BennettTomlin/status/1130971622905700353
@paoloardoino You've done nothing but hamper the legal process with bullshit appeals that the judges say make no fucking sense.
" We, as Tether, are using Deltec as a primary bank, and most of our biggest customers are banked into the same bank."
https://www.dnb.com/business-directory/company-profiles.deltec_bank__trust_limited.4fbf29930ceeaa7052d4360e6d4191b9.html
"Deltec Bank & Trust Limited has 137 total employees across all of its locations and generates $24.87 million in sales (USD)."
https://www.dnb.com/business-directory/company-profiles.deltec_bank__trust_limited.4fbf29930ceeaa7052d4360e6d4191b9.html
"Deltec Bank & Trust Limited has 137 total employees across all of its locations and generates $24.87 million in sales (USD)."
"Customer A wants to acquire new tethers. So they ask the bank personnel to do an internal transfer from their account to Tether, a Deltec account. And that gets settled and is available immediately to tether."
What about the non-Deltec accounts? $25 mil in sales isn't alot....
What about the non-Deltec accounts? $25 mil in sales isn't alot....
"Peter: You mentioned Deltec. Are you shareholders in the bank?
Stuart: We don’t talk about the investments that we have on the Tether side."
INTERESTING! DIGGING!
...COMPLETE!
So isn't this just a fucking quagmire:
https://offshoreleaks.icij.org/nodes/32000179
https://offshoreleaks.icij.org/nodes/23000143
Stuart: We don’t talk about the investments that we have on the Tether side."
INTERESTING! DIGGING!
...COMPLETE!
So isn't this just a fucking quagmire:
https://offshoreleaks.icij.org/nodes/32000179
https://offshoreleaks.icij.org/nodes/23000143
So Deltec's basically one of the big banks at the heart of the Panama Papers (You'll remember those Paolo, they proved BitFinex and Tether are joined at the hip even though they said they weren't).
I'm not gonna go too deep because there's no way its legit anyway. Waste of time.
I'm not gonna go too deep because there's no way its legit anyway. Waste of time.
"and may include other assets and receivables from loans made by tether to third parties"
You know that's not reserves right?
You can't count a loan to somebody else as "your reserve".
You've literally *spent* the money on a loan. You're getting interest on the loan.
You know that's not reserves right?
You can't count a loan to somebody else as "your reserve".
You've literally *spent* the money on a loan. You're getting interest on the loan.
"Now that lending includes the loan to Bitfinex, which currently stands at a principal balance of $550 million"
I'll see your bullshit, and i'll raise you:
https://coingeek.com/bitfinex-tether-fraud-investigation-to-proceed-in-new-york/
"the $900 million line of credit between Bitfinex and Tether has been frozen"
I'll see your bullshit, and i'll raise you:
https://coingeek.com/bitfinex-tether-fraud-investigation-to-proceed-in-new-york/
"the $900 million line of credit between Bitfinex and Tether has been frozen"
"Every USDT is also pegged one-to-one to the dollar. So USDT is always valued >>>>by tether <<<< at one USDT to one USD"
Undid the sneaky.
"Tether has always been able to honor redemption requests"
I'll bet that's why the BTC price keeps crashing from time to time.
Undid the sneaky.
"Tether has always been able to honor redemption requests"
I'll bet that's why the BTC price keeps crashing from time to time.
"So let me just ask if anyone seriously believes after we, you know, that we could be put under the microscope in the way that we have and still be operating if we weren’t backed. Defies logic."
https://www.desogames.com/why-i-hate-bitcoin-and-why-tether-will-end-up-killing-it/
Pretty easy to figure out with logic if you ask me.
https://www.desogames.com/why-i-hate-bitcoin-and-why-tether-will-end-up-killing-it/
Pretty easy to figure out with logic if you ask me.
"It meant and means that the reserves were 74% cash and cash equivalents. Tethers were and are 100% backed by reserves."
No you fucking loser it means we perfectly well understand that 26% of "reserves" AREN'T RESERVES!
This is what we call "Gaslighting". Poorly constructed too
No you fucking loser it means we perfectly well understand that 26% of "reserves" AREN'T RESERVES!
This is what we call "Gaslighting". Poorly constructed too
"So the loan to Bitfinex is still good backing."
https://coingeek.com/bitfinex-tether-fraud-investigation-to-proceed-in-new-york
AGAIN!
" And just note that that loan is now 550 million, out of almost $22 billion in reserves, or 2.5% of the total"
No. *You* value those at $22B. You will NEVER be able to sell whats on it for $22B.
https://coingeek.com/bitfinex-tether-fraud-investigation-to-proceed-in-new-york
AGAIN!
" And just note that that loan is now 550 million, out of almost $22 billion in reserves, or 2.5% of the total"
No. *You* value those at $22B. You will NEVER be able to sell whats on it for $22B.
"We were very clear last summer in court that part of it is in bitcoin."
Yeah. That's the whole fucking point Paolo. HOW MUCH?!
Because if you say 1 USD = 1 USDT and you've got 90% worth of BTC bought 100% with USDT; Then that "$22B" is actually "$2B DOLLARS".
Yeah. That's the whole fucking point Paolo. HOW MUCH?!
Because if you say 1 USD = 1 USDT and you've got 90% worth of BTC bought 100% with USDT; Then that "$22B" is actually "$2B DOLLARS".
"Again, we don’t comment on the basket of assets in a general manner, but we are exploring providing updates on that on the website in 2021."
CAUSE YER A BUNCH OF FRAUDS, HACKS, QUACKS AND SNAKE OIL SALESMEN!
All you're exploring is how to hide your mess better.
CAUSE YER A BUNCH OF FRAUDS, HACKS, QUACKS AND SNAKE OIL SALESMEN!
All you're exploring is how to hide your mess better.
"Well, hold on, we don’t have the ability to buy the bitcoin at the right time in the market"
If you're pumping 500 million plus of dollar >equivalent< into Bitcoin, YOU *MAKE* THE RIGHT TIME.
As evident by the price swings happening around your printing time of 1:14.
If you're pumping 500 million plus of dollar >equivalent< into Bitcoin, YOU *MAKE* THE RIGHT TIME.
As evident by the price swings happening around your printing time of 1:14.
"Stuart: No, no, we don’t issue tethers to buy bitcoin. We issue tethers to customers that want tethers."
"Peter: No, no, but how does it get there? How does, what’s the process of the bitcoin reaching your basket?"
"Paolo: I’m not sure if the question is really clear."
"Peter: No, no, but how does it get there? How does, what’s the process of the bitcoin reaching your basket?"
"Paolo: I’m not sure if the question is really clear."
"the amount of bitcoins that we luckily got a really good price in 2015 and 16, is >>probably<< enough for perpetuity."
OH REALLY?! I'LL BET THIS IS NOWHERE TO BE FOUND IN YOUR """"""""TRANSPARENCY REPORTS"""""""""
You admit as such as you're "planning to do something in 2021"
OH REALLY?! I'LL BET THIS IS NOWHERE TO BE FOUND IN YOUR """"""""TRANSPARENCY REPORTS"""""""""
You admit as such as you're "planning to do something in 2021"
"Stuart: But again, Peter, let me emphasize, this has been in the public records since at least last summer. In my view, this isn’t new or shouldn’t be new to anyone. "
Yeah you fuckers have always been a scam, Why'd ya think i was tracking you guys even as far back as March?
Yeah you fuckers have always been a scam, Why'd ya think i was tracking you guys even as far back as March?
"the entire concept of us issuing tether to buy bitcoin for ourselves, doesn’t make sense. So why issuing tethers when we already have the dollars"
@paoloardoino You. Don't. Have. Them. You have "debt and cash equivalents", by your own admission.
INDEPENDENT G.A.A.P. AUDIT!
@paoloardoino You. Don't. Have. Them. You have "debt and cash equivalents", by your own admission.
INDEPENDENT G.A.A.P. AUDIT!
I'm not gonna spend more time on this trash btw because it's really just a bunch of gaslighting by a compulsive liar.
Logic alone is enough to completely destroy legitimacy here. And just cause other people don't apply it doesn't mean i have to be stupid too.
It's. A. Fraud.
Logic alone is enough to completely destroy legitimacy here. And just cause other people don't apply it doesn't mean i have to be stupid too.
It's. A. Fraud.
One last thing, It can't be demand either.
