Yesterday we re-posted a detailed money flow analysis of Crypto markets with a focus on Tether liquidity titled The Bit Short: Inside Crypto’s Doomsday Machine.

It is an anonymous post but it's obviously genuine, the author is from the startup VC community.  Several core arguments were solid and only could come from someone who deeply understands risk management in opaque markets, blue oceans (new markets), dealing with paradigm changing ventures - such as Crypto is (or potentially is).

Bottom line, Tether is a Ponzi scheme, a massive global money laundering operation.  If you look at the majority of Bitcoin purchases, they are from Tether, not from US Dollars.  So if you're thinking that if you're not in Tether you are safe, you are wrong.  2 Crypto systems have emerged, the regulated and the unregulated.  This is not so different than the traditional banking system, which gave rise to Shadow banking.  Just like a Seychelles entity, there is no transparency in the non-regulated exchanges.  They mostly block US IP addresses and US Citizens, not only to avoid being caught- but from preventing the Ponzi to blow up.  Tether is a real Ponzi scheme because they ARE processing withdrawals, and depend on more money flowing into the system through offshore exchanges promising huge bonuses and rewards (paid in Tether of course).

If you'd like to read Tether's opinion here is their Feb 21 letter from Cayman firm Moore.

https://globalintelhub.com/tether-fraud-waiting-to-blow-up-crypto-markets/