Post
Topic
Board Economics
Re: Tether's market cap is huge! (usdt)
by
Vishnu.Reang
on 21/12/2020, 16:22:18 UTC
  • Lawsuits are pending

Do you have any sources for this? I remember I read about it a little while ago but I forgot where it was. I wonder when will they place the bomb. I guess they wait for crypto to moon even higher before they act.

He's probably talking about this one:

https://www.coindesk.com/nyag-tether-bitfinex-loan-documents-coming-weeks

Quote
The New York Attorney General (NYAG) anticipates the handover of loan documents relating to an alleged $850 million cover-up will be completed in “the coming weeks.”

Remember that this incident happened many years back (although the legal process is ongoing), when Tether was still in its infancy and when the market cap was only a fraction of the current level. Just imagine what will be the impact, if something like this one is uncovered now. Let's just hope that it will not happen, but if it occurs, then it will be the biggest scam in cryptocurrency till date.