IF YOU ARE IN CRYPTO AT ALL - PLEASE READ IMMEDIATELY
www.bloomberg.com/ne...cus-on-tie-to-tether
Due to the recent DOJ criminal probe into price manipulation by Tether (USDT), things have taken on an extremely serious turn for the entire market.
I cannot stress enough, that if you're fairly new to the crypto market, you should sell your holdings and leave immediately. Millions of people all over the planet have lost huge sums of money in this market, and when it's all said and done and these criminal probes affirm these allegations, this will end up being the biggest ponzi scheme the world has ever seen. It will affect entire economies, and I predict a lot of people will be going to jail over this.
I'll stress again that these are "allegations", but I want you all to understand that so far only the SEC has probed this type of manipulation by Tether. The DOJ has a HIGHER than 90% conviction rate, so when they're stepping in as well, it's NOT without reason.
To sum it up briefly the allegations are that USDT has been used illegally (essentially they printed money out of thin air and used it to artificially buy up Bitcoin without any backing), and this is what they are alleging that caused the surge in market prices leading into 2018 and the hyper deflation afterwards.
Once the SEC was tipped off last year, they investigated. From what I understand, on their audits they would sell their Bitcoin shares that were bought by unfunded (ie digitized) Tether shares to make the books look right at certain periods of the month. Once the books were done, they would pump the market again and repeat.
Guys, where there is smoke there is fire, and when the criminal justice arm of the most powerful country on the planet is probing this (with a 93% conviction rate), there is no longer just smoke... This is fire and we have all been standing in it for years.
As a crypto enthusiast for years, I am walking away from the market because when these probes find the fuse that was lit, this entire market will likely collapse as they will no longer be able to pump the market to make it look better than it ever actually was. The market landscape for crypto currency will no longer be the same as it has been because this is just the tip of the iceberg.
I am strongly urging anyone reading this to exit the market, it is being manipulated. It is not an organic market, you can lose thousands of dollars and get yourself into financial ruin because some a-holes decided to ponzi an entire planet of people thinking that it will not have any consequences. And once the crap show completely hits the fan, it is likely that the markets will react swiftly and there is a potential of a full out crash... Meaning you may not be able to get your money out.
This is pretty dire folks. Please research this for yourself. The market collapsed as soon as it was out that the DOJ is stepping in, and for good reason. There is also concern that entire exchanges were going along with this and were involved, and if that's the case, a lot of people could lose their money because if they were ever forced to close under this amount of scrutiny, you would possibly lose your investments.
This is potentially a world wide ponzi scheme with very huge implications, and I can no longer stay silent about what is really going on. It's pretty much all over the internet and it may not take long for things to break down completely.
Due to the recent DOJ criminal probe into price manipulation by Tether (USDT), things have taken on an extremely serious turn for the entire market.
I cannot stress enough, that if you're fairly new to the crypto market, you should sell your holdings and leave immediately. Millions of people all over the planet have lost huge sums of money in this market, and when it's all said and done and these criminal probes affirm these allegations, this will end up being the biggest ponzi scheme the world has ever seen. It will affect entire economies, and I predict a lot of people will be going to jail over this.
I'll stress again that these are "allegations", but I want you all to understand that so far only the SEC has probed this type of manipulation by Tether. The DOJ has a HIGHER than 90% conviction rate, so when they're stepping in as well, it's NOT without reason.
To sum it up briefly the allegations are that USDT has been used illegally (essentially they printed money out of thin air and used it to artificially buy up Bitcoin without any backing), and this is what they are alleging that caused the surge in market prices leading into 2018 and the hyper deflation afterwards.
Once the SEC was tipped off last year, they investigated. From what I understand, on their audits they would sell their Bitcoin shares that were bought by unfunded (ie digitized) Tether shares to make the books look right at certain periods of the month. Once the books were done, they would pump the market again and repeat.
Guys, where there is smoke there is fire, and when the criminal justice arm of the most powerful country on the planet is probing this (with a 93% conviction rate), there is no longer just smoke... This is fire and we have all been standing in it for years.
As a crypto enthusiast for years, I am walking away from the market because when these probes find the fuse that was lit, this entire market will likely collapse as they will no longer be able to pump the market to make it look better than it ever actually was. The market landscape for crypto currency will no longer be the same as it has been because this is just the tip of the iceberg.
I am strongly urging anyone reading this to exit the market, it is being manipulated. It is not an organic market, you can lose thousands of dollars and get yourself into financial ruin because some a-holes decided to ponzi an entire planet of people thinking that it will not have any consequences. And once the crap show completely hits the fan, it is likely that the markets will react swiftly and there is a potential of a full out crash... Meaning you may not be able to get your money out.
This is pretty dire folks. Please research this for yourself. The market collapsed as soon as it was out that the DOJ is stepping in, and for good reason. There is also concern that entire exchanges were going along with this and were involved, and if that's the case, a lot of people could lose their money because if they were ever forced to close under this amount of scrutiny, you would possibly lose your investments.
This is potentially a world wide ponzi scheme with very huge implications, and I can no longer stay silent about what is really going on. It's pretty much all over the internet and it may not take long for things to break down completely.
modernconsensus.com/...ex-modern-consensus/