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 … Continue reading The Best Case Scenario for Tether’s Activities in 2017 →

A Conversation about the Future of Finance

This story was inspired by this tweet. https://twitter.com/PsychoOnWallst/status/1289338638518558720 "Bro, you gotta get in on this. I think I have discovered the future of finance." "What is it?" "It's this thing called AuthorityPunks, it's these random digits on computers all around the world that say I own this collection of pixels." "Okay? Can you do anything … Continue reading A Conversation about the Future of Finance →

Analysis of the Tether/Bitfinex NYAG Settlement

Bitfinex and Tether have settled with the New York Attorney General. The settlement document can be found here. (My copy) Many seem to find the document exculpatory, but I find it damning. As I have discussed previously, Bitfinex and Tether are dishonest and we are now getting a better view into just how dishonest they … Continue reading Analysis of the Tether/Bitfinex NYAG Settlement →

Broken Promises and Lies from Bitfinex and Tether

Bitfinex and Tether are perennially dishonest members of the cryptocurrency ecosystem. Giancarlo claimed: "Bitfinex will never reveal to the public the public keys where it stores the Bitcoins and the Litecoins of his customers." (archive) They have. (Note: I do not object to them sharing this information) Bitfinex claims to have begun fiat operations in … Continue reading Broken Promises and Lies from Bitfinex and Tether →

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 … Continue reading What is Crypto Capital Corp? →

Guest Lecture at WHU – An Introduction to Bitfinex and Tether

UPDATE: I MAKE THE CLAIM THAT BITFINEX LIED ABOUT OWNING TETHER, THIS IS TRUE BUT I WANTED TO PROVIDE ADDITIONAL CONTEXT HERE Recently I was asked to do a guest lecture on Bitfinex and Tether. You can find it here: https://whu.cloud.panopto.eu/Panopto/Pages/Viewer.aspx?tid=f0fca2e9-f79e-4f81-b659-acd30078104e YouTube version: https://youtu.be/jGl6XKv4k0E My uploaded version: You can find the slides here. You can … Continue reading Guest Lecture at WHU – An Introduction to Bitfinex and Tether →