Tether has released a brand new attestation (archive) (my copy) showing that they are fully backed! Well, it shows that for at least one entire minute Tether was fully backed. Moore Cayman, an auditing firm in the Cayman Islands, has provided an assurance opinion on the current reserves of Tether. I am going to highlight … Continue reading Tether’s New Attestation: Thanks For Nothing
This is one of my most in-depth analyses yet. You can find the interactive version of this article here: note this may take a minute or two to build, but it allows you to manipulate my code and see how I worked through the assumptions. Otherwise I will do my best to recreate it below: … Continue reading FEI Protocol Analysis
This post is inspired by this thread of mine: https://twitter.com/BennettTomlin/status/1375900452798234634 Stuart Hoegner, the General Counsel for both Bitfinex and Tether, used to be Director of Compliance for Excapsa. (Archive) Excapsa was notorious for being the parent company of Ultimate Bet. Ultimate Bet allowed some of the poker players on their site access to a 'God … Continue reading Before Bitfinex and Tether
First appearance This time we discuss black swans, USDC, and my recent article about MakerDao. You can find show notes and links to the show here.
I wrote a piece about Dai in which I suggested it was vulnerable to certain black swan events that I felt were not being given appropriate consideration. I do still feel that those are accurate opinions, however, I have also come to appreciate more of the ethos surrounding Dai. Contents: Why Dai?What's Dai?How does Dai … Continue reading Dai and MKR: So Close
I have recently started to spend some time trying to homebrew new items, spells, and other things for players at my Dungeons and Dragons tables. It's fun to give them an item that you know they could not have seen before. Often I am inspired by existing weapons and that was the case for this … Continue reading The Dagger of Vitality Stealing
Cas Piancey and Bennett Tomlin discuss the history of Bitfinex and Tether and their struggles with solvency
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 … Continue reading Some Recent Photos
Cas Piancey and Bennett Tomlin discuss the early history of Bitfinex and Tether
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. First, the entire time you are researching a fraud you feel special. It feels as though you have chanced upon forbidden knowledge, and that feeling is compelling. It can … Continue reading The Emotional Experience of Pursuing Frauds
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