Deltec, the bank of Bitfinex/Tether which is putatively not their alter ego, has a large position in Bitcoin, purchased with customer funds.
I am intensely curious as to who they bought that from.
I am intensely curious as to who they bought that from.
https://twitter.com/deltecbank/status/1349814767607832579
"Patrick you seem to be insinuating something."
Bitfinex/Tether, who are one operation, are by far the largest customer of Deltec, and when their chief counsel was asked whether they are investors in the bank, they demurred with respect to Tether's investments specifically.
Bitfinex/Tether, who are one operation, are by far the largest customer of Deltec, and when their chief counsel was asked whether they are investors in the bank, they demurred with respect to Tether's investments specifically.
Bitfinex/Tether's last banking relationship was with a firm called Noble Markets. Noble's board had compliance concerns and was worried their custodian would terminate services if thy banked Tether.
Bitfinex lead round; got banked; used Noble like skin suit. No longer exists.
Bitfinex lead round; got banked; used Noble like skin suit. No longer exists.
In unrelated news I have had a recent interest in reading up on the S&L crisis in the 1980s, which was largely caused by real estate developers who rooted quasi-banks and then used them to perform control frauds.
A good history of this crisis, whose title does not do the actual content favors, is The Best Way to Rob a Bank is to Own One.
At approximately 7:10 in that video. My transcription, and the audio quality / my ears are not great. 
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