Let’s talk about Bitfinex; and Tether.
Let’s talk about Bitfinex; and Tether.

By Hippos4ever | HipposR4ever | 8 Oct 2019

$0.25 tipped


I’m sure many of you reading have heard the news, or read it else where. Bitfinex MOST LIKELY (biased on public opinion) has/is manipulating the market using its own tokened currency on the ETH platform in the form of a ERC-20 token known as Tether.

Tether, is SUPPOSED to be backed in theory by real fiat dollars supposedly in an account owned/controlled by Bitfinex at a 1:1 ratio...

 

a new law suit has come out, and more detail can be read about here... and here.

 

And both articles are way more well written and composed than this one will be, but I really just wanted to bring this issue more to light. In a world where exchanges are more or less unverifiablly selling writes to things they don’t own, and can use those ascertained funds to manipulate a market on that scale... is expecting regulation of exchanges really such a bad idea... I’m not sure myself, just food for thought.

 

hope y’all take away something from this or at least the mentioned referenced articles... imo, it’s kinda a big deal...

 


Hippos4ever
Hippos4ever

I am a hippo and weigh quite a bit


HipposR4ever
HipposR4ever

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