Month: July 2021

The Unsolvable Problem in Tether’s Reserves

Tether is extraordinarily large and has very little cash. Approximately half of their reserves are in commercial paper that we know very little about. However, the strange thing to me is that it seems like they could be an extraordinarily profitable business, even if their reserves were massively less risky. There are currently 62.5 billion … Continue reading The Unsolvable Problem in Tether’s Reserves →

Episode 14 – Behold the Brash Bunk from Bitfinex and Binance — Crypto Critics’ Corner

https://cryptocriticscorner.com/2021/07/12/episode-13-behold-the-brash-bunk-from-bitfinex-and-binance/ https://anchor.fm/s/4fa795b4/podcast/rss https://youtu.be/wGL2NUXXjCA In this episode Cas and I discuss his investigative work to check out the addresses for Bitfinex and Tether.  AnchorSpotifyAppleGoogleOvercastRSS Feed You can read Cas’ article on this here.

My Appearance on The Grant Williams Podcast

I was recently able to join Grant Williams on his podcast with George Noble to discuss Bitfinex and Tether. He has made both the podcast episode and the excellent report he wrote on Tether and Bitfinex free. I recommend you listen to the podcast and read the report: https://www.grant-williams.com/podcast/the-grant-williams-podcast-bennett-tomlin-george-noble/

Sunday Reads – Things I Found Interesting 2021-07-11

Binance https://twitter.com/BennettTomlin/status/1413270421114433540?s=20 Binance in their continual journey to be simultaneously everywhere and nowhere has ended up right back where they started, in Hong Kong. TrueUSD I am still worried about the fact that we have yet to get more information from TrueUSD about their acquisition or when attestations may resume. Cas covered it months ago … Continue reading Sunday Reads – Things I Found Interesting 2021-07-11 →

Periods Where We Definitively Know Tether Was Unbacked

There are still some who claim that Tether has always been fully backed. I have already shown that is not true: https://bennettftomlin.com/2021/06/04/a-simple-deductive-argument-proving-there-were-unbacked-tethers/ In this post I will summarize the periods where we have sufficient evidence to know for certain that they were unbacked. Thanks to the NYAG settlement we know that there were unbacked Tethers … Continue reading Periods Where We Definitively Know Tether Was Unbacked →

Sunday Reads – Things I Found Interesting 2021-07-04

Fraud in the art world Vulture had a fantastic article about a fraudulent art dealer. See if you can find analogies to crypto and especially NFTs. Read it here. ICYMI In this article I attempt to challenge those who malign Tether researchers and journalists covering Tether as 'conspiratorial truthers'. https://bennettftomlin.com/2021/07/03/tether-truthers-and-the-inconvenient-conspiracy-theories/ In this episode Cas and … Continue reading Sunday Reads – Things I Found Interesting 2021-07-04 →

Tether Truthers and the Inconvenient Conspiracy Theories

There is a reflexive tendency among those who defend Tether to categorise those who criticize Tether as 'truthers', akin to those who spread 'Jet Fuel Doesn't Melt Steel Beams' in their Facebook group about how the earth is flat. This tendency is absurd when you consider the history of the accusations made by 'truthers' and … Continue reading Tether Truthers and the Inconvenient Conspiracy Theories →