Once it's fullscreen on desktop, rightclick > view image and twitter should show the full format. It's on my website as backup. The short of it:
ALL stable coins are backed by the SAME reserve! EVERY stablecoin shows mainly or even ONLY *Tether* flowing into it!
The USDC Audits are *FRAUDULENT* just like the 2018 Tether audit was. It reads exactly the same as the Tether audit did, only a bit more refined, and they found a willing criminal organization, Granton & Thornton, to run cover for them. It's no coincidence it started October 2018
Look at the QT for that story.
Regardless. If it was legit, we'd see SOME USD flows into them. After all, kraken has trading volume, don't they?
SKIP THE BITCOIN PART! I'm not gonna have the value discussion here. We can all agree that there have been plenty of scams in history involving value. If you love bitcoin you'd want it to be scam free.
First off; Tether printed another 71,500,000 tether last night. Nice round number. Very organic. They printed 96,399,401 yesterday, what's that all about then?
Printed ~$500 million last 7 days, annualized $25,6 billion, down from $35B. Guess the rising price attention helps.
I needed a distraction after i hit that pile of bad memories and had a little panic attack; So i decided to make another crypto chart ^_^
Maybe this shows better *why* i don't trust Bitcoin volume as measured in trades instead of dollars.
It doesn't line up with the price spike
Peter Lynch in his 1994 speech said "Stocks aren't lottery tickets.... Coca Cola is earning 30 times what it did 30 years ago, its price has gone up 30 times. Bethlehem steel earns half as much as it did 30 years ago, the share price is half."
Well Crypto runs on Pure Demand.
IOTA is more reliable in price action because it's a private network with no ability to print more money AND it's an alt coin with a smaller market cap. Meaning it's out of the public eye, including Tether's eye.
And while Bitcoin might not be able to print more, Tether sure is.
BREAKING: Retail Participation in markets is topping out!
Well not really breaking news but i barely ever get to use that, so :D
First some charts (that confirmed my theory), then i'll explain to ya how i came by the info:
So, one of the YT channels i follow is Meet Kevin (to keep up to date with stimulus and real estate). And i was watching this video, when i heard something interesting:
Specifically, about his sponsor, WeBull.
He's had that sponsor for a long time, so i can chart the behavior of that sponsor VS market conditions at the time.
During that peak in the search trend, WeBull was offering 2 free stocks - an offer that was about to expire and extended on the deadline (AKA FOMO scarcity).