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.Continue reading “An Introduction to the Tether/Bitfinex Controversy”
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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I have been pursuing frauds for the last several years. I love it. However, it can be emotionally taxing to work on this kind of project.Continue reading “The Emotional Experience of Pursuing Frauds”
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.Continue reading “Sockpuppets, Bots, and Crypto: Oh My!”
Recently, Binance Chain and Binance Smart Chain have increased in usage thanks to congestion on Ethereum.
Also recently, several people have started posting politically censored material on Binance’s chains.
This opens up several ethical questions that I think are valuable for anyone involved in crypto to ruminate on.Continue reading “The Ethics of Censorship Resistance”
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.Continue reading “The Best Case Scenario for Tether’s Activities in 2017”
This story was inspired by this tweet.
“Bro, you gotta get in on this. I think I have discovered the future of finance.”Continue reading “A Conversation about the Future of Finance”
Bitfinex and Tether are perennially dishonest members of the cryptocurrency ecosystem.Continue reading “Broken Promises and Lies from Bitfinex and Tether”
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.Continue reading “What is Crypto Capital Corp?”