There's no such thing as bad publicity....must be their motto #ett#epsilon#gts. what better platforrm than on the back of #cryptocapital arrests and indictments. To reunite the dream team and market your software that was central to #cryptocapital business model
Here's a copy of the presentation in case it disappears from linkedin
Its also worthwhile noting that #ETT#GTS SAAS backoffice provider to #cryptocapital is looking to the Indian market to peddle their shitbox backend. Im guessing the Indian market has an endless supply of dodgy FX platforms to pitch to.
I suspect there might be a reboot of zingwallet (owned by Molina and Yosef) in 2020 which appears to be originally developed for the Indian market.
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yesterday I flagged the flaky wording used by #celsius in their suspension of services memo to its members. ""Activated a clause" in their Terms of Use....without actually stating which clause they were referrring to.
Having read through the Terms of Use it appears one reason for not specifying the clause the clause they have 'activated' is there are more than one clause they are relying upon to effect the suspension
one for Custody [you retain ownership of the asset] (Custody only began 15 April 2022) and the other clause(s) are for the balance of all accounts [you relinquish ownership to Celsius].
If you have a rental property. You make a return by finding some nice people who need a place to live they undertake to pay you x return per week and as long as they dont wreck the place or stop paying everyone is happy.
Essentially you are entrusting your asset to a third party on the promise that they will make payments in the future as agreed. If they stop paying you kick them out.
So imagine your shock and horror. that those nice people started to have some financial issues because they werent getting paid by someone else and gave you a heads up by email refering to a bit of html on a website. Essentially we will get back to you when we can sort you out.
yesterday I threw out an off the cuff question to @bitfinexed
How much of the redeemed #tether was used to recover and maintain its peg?
The obvious answer is whatever they had to.
I've spent a big chunk of today crunching data to see what answers I could come up with.
Last night I scratched out my hypothesis - to maintain its peg...#tether would need to tap its own cash...can only do that via redemptions and the 'tell' will be burning the tokens like they never existed.
Basis for this thinking is pretty simple. That's what they do when they need cash and lots of it. Remember back in 2018 #novogratz was swooning over the orderly redemption of $700m by #tether.