Jakal Profile picture
14 May, 15 tweets, 5 min read
Following the release of #tether's distended testicle I mean attestation. I attempted to reconstruct some numbers....as mentioned only additional information I was able to yield was there was an additional $13m of undisclosed debt.
Armed with the donkey boys amazing double barrel pie chart I've added to the original analysis. The same doc previously shared which I'll share again at the end.
Ironically It's highly likely I've spent more hours on Tether's accounts in the last week than they have collectively in the last couple of years.
Combining the numbers that the Cayman testicle ticklers signed off on with Donkey's pie's we are able to breakout the cash....a massive $1.2B.....I found it interest that precious metals was bundled in with corporate bonds and funds....
Ive assumed that 'precious metals' is in fact Tether's little stock pile of gold...which by my calculations is around $145m....interestingly $9.8m is booked to treasury awaiting purchase (its been gathering dust for a while)....I'm guessing there's a few reasons why Tether gold
Hasn't quite gained as much traction as USDT.....for a start...(and as Donkey boy tweets daily) printing USDT to treasury is in anticipation of the avalanche of cash about to hit the account. Whereas with tether gold they stump up the coin to buy the gold first...
imagine if they had to stump up $1B of fresh lackies before Donks pressed print....bitcoin never would have broken 10k. but at least its actually fully backed even if its only 0.3% of assets. No idea whats Corp bonds and funds are so they remain bundled together.
tbh all the actions here.....there's commercial paper, Fiduciary deposits, reverse repos, treasury bills or T-BILLS as Gregory "I'm the junior CEO on training wheels" Peppin skooled us at length .....It was all about the T-Bills....fucks sake he must have said TBills 40 times...
Which is why I was a touch surprised that there's fuck all of them in the portfolio........I actually like Greg....mostly i liked his big gaming chair.....Apparantly he has a few of them....He sent me this snap of him in his favourite....awesome hey
anyways...back to the analysis....so it turns out half way through I realise that I'd missed a little black hole of $147million ...somehow the testicle tickler's consolidated total assets of $41.2B was $147m less than the aggregate total value of all 4 tokens.
wtf does that mean? Fuck knows....So I hit up Morons Caymans on Linked in.....and while I waited I tried to get tricky with the $147m....was it debt masquerading as a negative asset? Had the Wiz gone on a bender at spearmint rhino's and needed to hide the expense?
In the end...I said fuck it....ill just assume its either a mistake or its not....scenario 1 and 2...doesnt really matter .....be better to try and deal with the half dozen elephants running around the room.
I reckon this bloke would know a bit about commercial paper...can't seem to get hold of him....think he's pretty busy atm
I think you get the idea....here's teh spreadsheet for anyone that's interested bit.ly/3nDEMZ7

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More from @intel_jakal

15 May
@ebit4u Every country has a certain comparative advantage over others. This is what Cyprus does best so in acknowledgement that these start-ups have tiny tiny tiny micro lives they make sure there is high throughput, rapid turnover and tiny little fines when they get caught
@ebit4u kinda genius nurturing 10x the volume of startups, means 10x the licensing and end of life fines keeps the costs down ensuring they can be up and running quick as a flash.
@ebit4u Lets look at the #teman family as one that's managed to grow a couple of brands and while yes the copped a fine at the end of each run it was never such that it hurt their entrepreneurial spirit.
Read 23 tweets
9 May
@haydentiff @NitrousDelivery @BennettTomlin So the fake unlicensed Gambian entity was the first Euro EXIM "group company" it would have been setup (and sold) as turn key "shelf company" - Gambian incorporated with banking license and #probanx banking software (more than half these fake Gambian companies
@haydentiff @NitrousDelivery @BennettTomlin not only turned out to be fake/unlicensed companies that #probank provided banking software for but Probanx were the facilitators of registering the domains/branding etc. >>> here's the list
@haydentiff @NitrousDelivery @BennettTomlin So as you can see from the certificate the company was incorporated in Feb 2015 and the certificate showing the acquirers name is 8 May 2015. This date's important.
Read 11 tweets
13 Feb
@FinTelegram In your #itradefx article I see you were able to confirm #pradexx as their payment processor. I looked at the sub-domain uiservices.pradexx.com checking its IP address provides a pretty interesting list of other 'brands'

fintelegram.com/pradexx-again-… ImageImage
@FinTelegram I see #pradex and their dodgy partners are still spinning up new reskins of their scammy sites. Keep an eye out for #ftspaysolutions #kopayment #payotop #securepayment3d Image
The four mentioned 'rebrands' have been added since the beginning of March 2021. Image
Read 6 tweets
12 Feb
I'd been peripherally aware of @abt_company last year working on couple of M&A DD engagements....an OTC shell slipstreaming into the in vouge sector of the time....reeked of the standard P&D playbook.
By chance I stumbled across them today and had a flick through their business and numbers....I have to admit I was way off the mark; the recycling business far more underwhelming and the pump exponentially higher than than I could have imaged.
Hows this for snake oil salesman. The global market was worth $1B last year...we are building a plant 20% of the global market .....topline number is $200m pa ....and its gonna run for the next 50 years. Image
Read 8 tweets
27 Jan
@bitcoinlawyer @Tether_to Clearly Tether Limited is registered with FINCEN as a MSB anyone can search and confirm. Putting aside the registered vs regulated debate. Is it not misleading to suggest that @Tether_to is regulated?
@bitcoinlawyer @Tether_to Tether states that since Jan 2018 it no longer serving the US market, and pursuant TOS "tether limited" is ringfenced specifically to US customers, of which there are none.
@bitcoinlawyer @Tether_to since Tether Limited doesn't transaction with customers; all customers fall under the umbrella of the BVI entity Tether International Limited which is NOT registered/regulated by FINCEN.
Read 5 tweets
26 Jan
The two major shareholders and their respective entities. Munoz wasn't buying new shares in the group - he was being sold existing shares owned and financed by the shareholders
Ive waxed on at length about my hypothesis of how securities lending is central to how Tether 'reserves' are managed and backed, and how the customer requests are akin to drawing down from available headroom etc
The custodian's role is pivotal.
Read 4 tweets

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