[THREAD] Tether Price Manipulation Scheme!

This detailed thread will dive into the realm of #Tether, and explain everything you need to know about this controversial coin. 

The public deserves to know the truth about Tether's role in manipulating #Bitcoin prices for years now.
For the last several years, Tether and Bitfinex have been swarmed with dozens of controversies.

This thread hopes to share the light on what’s actually going on, and assist the public in avoiding massive losses from this ticking time bomb and fraud scheme.
Stable Coins are cryptocurrencies that claim to be pegged to another asset, usually the U.S dollar. With double the volume of $BTC, Tether is the most popular on the market.

The issue with Tether is there is zero evidence that suggests they are fully backed with the U.S dollar.
In 2012, iFinex was founded in Hong Kong, and launched in the British Virgin Islands. 2 years later, Bitfinex, and Tether are created.

In 2015, $BTC drops 87%, its largest bear market ever. Bitfinex lists Tether, and liquidity quickly returns, fuelling the bull market.
It wasn’t until years later that leaked documents (Paradise Papers) revealed Bitfinex and Tether are run by the same individuals.

For years, Tether and Bitfinex lied and said the two operations were separate, but this leak proved otherwise.
In 2016, Bitfinex claims it has been hacked again when 119,756 BTC, worth $72 million at the time, vanish.

This is one of the largest hacks in bitcoin’s history, second only to Mt. Gox. Bitcoin plummets over 20%, and Bitfinex never discloses any details of the breach.
Days before #Bitcoin tops out at $20,000 in 2017, The CFTC subpoenas Bitfinex and Tether

The actual documents are not made public.

Without any formal announcement, Bitfinex suddenly closes all new account registrations.
A few weeks later, Tether's legal team states Tether Tokens will no longer be issues to U.S Citizens.

Tether also suspiciously cuts all ties with their auditors, and claims an audit wouldn't be possible due to their "complex balance sheets"
This chart shows the strong correlation between Tether printing unbacked dollars, and Bitcoin’s price.

Through 2020-2021, we see record amounts of Tether being printed, which is followed by a huge bull run.
Many claim that without Tether, Bitcoin wouldn't be affected. Tether makes up massive amounts of the market.

Data shows that almost 75% of all volume on Bitfinex (Tether’s subsidiary) is from USDT.
The issue with Bitcoin is its being artificially propped up by a corrupt company. Bitcoin itself isn't a scam, but Tether is.

Once Tether is removed, we could easily see a 80-90% market decline, and a devastating liquidity crisis, 100x worse than Mt. Gox scandal.
2019: New York Attorney General sues Tether/Bitfinex:

Tether and Bitfinex are now involved in a massive price manipulation and fraud lawsuit. They of course deny the accusations, and call it to be ended.
Tethers Lawyer admits they aren't fully backed:

Tether’s own lawyer signed an affidavit, and admitted that Tether wasn’t backed 1:1 with the dollar, but rather only has reserves to back 74% of its ‘stablecoin’ issue.

In December 2020, NYAG says they anticipate the handover of loan documents.

Weeks later Tether confirms they've sent over 2.5 million documents to NYAG.

Around this time, Tether stops printing for 8 days, and the prices of Bitcoin plunges 19%.
In an attempt to regain public confidence in Tether, Paolo Ardoino & his lawyer, Stuart Hoegner, go on the 'What Bitcoin Did' podcast by Peter McCormack.

Avoiding all important questions about being backed, many claim the podcast was fully scripted, and it was.
Peter has strong ties with Tether.

Not only did Tether fund one of Peter's personal lawsuits, but they are also an indirectly sponsor of the podcast.

Tether is a main sponsor of Kraken, which is the largest sponsors of this propagandist podcast.
On February 23rd, Attorney General James, after a 2 year legal battle, decides to settle the lawsuit with Tether and Bitfinex for $18.5 Million.

In the statement released from NYAG, they confirm that Tether IS indeed a massive fraudulent scheme.
For the first time, investigators confirm everything that Tether truthers have been saying:

✅Tether had no access to banking
✅Tether held no reserves
✅Tether wasn't backed to the dollar
✅Tether/Bitfinex covered up massive losses

READ: ag.ny.gov/press-release/…
It's important to note that over the 24 hours prior to this announcement , Bitcoin's price plunges 26%, and over $350B wiped from its market cap.

The largest single day drop in Bitcoin's history coming right when Tether is confirmed to be a fraud. Not a coincidence.
Immediately after the NYAG settlement, Tether puts out false claims that NYAG found "no finding that Tether issued without backing or to impact prices", and "we admit to no wrongdoings"

These statements are both not true, as confirmed by NYAG.
Tether is 100% NOT off the hook!

NYAG did everything they could against Tether. They officially banned them from New York, and charged them for millions of dollars.

This case settlement only opens up bigger agencies like SEC and DOJ to investigate Tether... which they will.
Once SEC and DOJ investigate Tether/Bitfinex, and later shut them down, expect a massive bear market.

Since 2015, Tether has evidently been the main cause of the market growth, and once they are barred from the markets, things will quickly change.
Lots of misinformation from Tether supporters has flooded social media regarding this settlement.

Many saying Tether "won" and is confirmed "legit"

Ignore all of these people. They either didn't read the NYAG report, or are intentionally spreading misinformation.
My final thoughts: Ignore all the misinformation, and read the report from NYAG yourself which provides full insight.

Tether is confirmed to be one of the largest scams in history, and once it's shut down, many people will get screwed over.
Thanks for reading my thread! 🐳

Please retweet and like to get the truth out.

I'm exciting for the future DOJ/SEC lawsuits against Tether, and will be covering them extensively when announced.

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