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.
I had a ton of fun recording this podcast, however, due to time constraints I was not able to get to all my notes on whether or not Tether acts in good faith. I would like to summarize a few of the things I was not able to get to here:
Bitfinex has used the bank accounts of friends and family of Bitfinex in order to service withdrawals.
The firm who provided Tether’s last attestation is no longer operational, and Freeh, one of the lawyer behind it UPDATE:is no longer a lawyer is no longer practicing law, but may still be licensed.
Tether advertised no KYC swaps between Bitcoin and Tether.
Tether held tens of millions of dollars in the bank account of their General Counsel.
The founder of Bitfinex was promoting ponzis right up until he announced Bitfinex.
The founder of Bitfinex once described his own exchange as a bucket shop.
There are many more, but I just wanted to give you a taste of some of the stuff we ran out of time to get to.