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Tether was 100% backed.
They used Crypto Capital, like many other exchanges as a payment processor without contract.
$850 million got "seized" in 2018 by "authorities".
Tether is no longer 100% backed so they take out a loan of $900 million to cover it, backed by Bitfinex equity.
They used Crypto Capital, like many other exchanges as a payment processor without contract.
$850 million got "seized" in 2018 by "authorities".
Tether is no longer 100% backed so they take out a loan of $900 million to cover it, backed by Bitfinex equity.
Which means that Tether is backed as long as they can do the loan repayments?
But Tether has been closely working with DOJ for a while now.
NY AG starts investigating Bitfinex/Tether. Bitfinex sucks in PR.
Now DOJ charged Crypto Capital people.
But Tether has been closely working with DOJ for a while now.
NY AG starts investigating Bitfinex/Tether. Bitfinex sucks in PR.
Now DOJ charged Crypto Capital people.
Does this speed up the chance of Tether "recovering" the seized $850 million? (genuine question)
It also shows to what length some exchanges have to go through to get banking. That might be the saddest part.
To top it all off Bitfinex seems to be doing an IEO for $1 billion.
It also shows to what length some exchanges have to go through to get banking. That might be the saddest part.
To top it all off Bitfinex seems to be doing an IEO for $1 billion.
