An Introduction to the Tether/Bitfinex Controversy

Bitfinex is one of the historically largest Bitcoin exchanges and Tether is by far the largest stablecoin. Each potentially has significant influence over the industry on their own, and their interconnectedness makes this more of a concern. However, since both were founded years ago and many of the events have happened and been in revealed in bits and spurts it can be difficult to understand their place in the cryptocurrency environment. This will hopefully serve as a basic introductory document that will then prompt further research.

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Some Recent Photos

This image is released under the Creative Commons Attribution-ShareAlike 3.0 Unported License
This image is released under the Creative Commons Attribution-ShareAlike 3.0 Unported License
This image is released under the Creative Commons Attribution-ShareAlike 3.0 Unported License
This image is released under the Creative Commons Attribution-ShareAlike 3.0 Unported License
This image is released under the Creative Commons Attribution-ShareAlike 3.0 Unported License

My Conversation with Cas Piancey on ‘Tether: A Stable Discussion’

Cas Piancey, my writing partner and friend, and I are doing several episodes on the history and controversy surrounding Bitfinex and Tether.

This episode is mostly focused on the early history of Bitfinex and Tether, leading up to the second Bitfinex hack. Next episode we should hopefully get into some of the backing issues that the New York Attorney General helped expose.

You can find the episode here: https://anchor.fm/cas-piancey/episodes/Tether-A-Stable-Discussion-erhp88/a-a4qn2vm

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Sockpuppets, Bots, and Crypto: Oh My!

If you spend any significant amount of time on crypto twitter, especially as a contrarian or a skeptic, you will inevitably come across accounts that seem less than genuine. These bots, sock puppets, or intelligence deficient accounts are a nuisance, but their role in crypto is more complex than their limited speech will convey.

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The Best Case Scenario for Tether’s Activities in 2017

In 2017 Tether was issuing unbacked Tethers. This has been confirmed as part of their settlement with the New York Attorney’s General office. As an exercise in trying to ensure that I have not become overly biased around Tether what I will attempt to do in this article is construct the best case scenario for how Tether’s business was operating.

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A Conversation about the Future of Finance

This story was inspired by this tweet.

“Bro, you gotta get in on this. I think I have discovered the future of finance.”

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What is Crypto Capital Corp?

Crypto Capital Corp is a licensed (in Panama (archive) [for one of the corporations]), unlicensed (My copy) (just about everywhere else) money transmitter and payment processor. They partnered with a variety of cryptocurrency companies including: Kraken, Bitfinex, Quadriga, Bitmex, Coinapault, and more. They are implicated in wire fraud, bank fraud, embezzlement, and hundreds of millions of dollars worth of money laundering for the Colombian cartels.

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