Jakal Profile picture
May 15, 2021 24 tweets 14 min read
@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.
@ebit4u From 2013 to 2016/17 This little fella had a Steller run pumping a few home binary option brands under the #pegase shingle. #HelloBrokers, #InteractiveOption, and #MTXPlus, while not quite reaching the top league of scam they would have been good earners for #teman. ImageImage
@ebit4u As all good times come to an end #pegase #teman got the obligatory slap on the risk and the mediocre fine. Well actually to be fair they copped a touch more than most... Image
@ebit4u Little micky teman copped a 5 year ban.. must have pushed his luck a little far. While a 200k fine isn't too painful for someone that been ripping and scamming cash from victims. A 5 year ban can be problematic....But this is teh beauty of Cyprus. ImageImage
@ebit4u Always have volume and velocity. Backoffice and incorporation service providers are there to help you setup, spin up new brands and they are brilliant at introductions to their other clients - payment service providers, strawmen, and intros to other jurisdictions when
@ebit4u your brand really starts to take off and you need to play the game of peekaboo, rotating registered offices and pretending to be regulated somewhere ....anywhere...they are not.
@ebit4u anyway i digress...so as Pegese and Michel Temans run at the binary options title....for anyone that been living in lala land for the last decade and doesn't know what binary options are.....they are kinda like the smash and grab of the Ponzi world..No playing the long game
@ebit4u its so brutal I suspect a number of the boiler rooms all wear balaclavas on their calls. Anyway.... back to the Teman family. While Michel's was having his run....his bro Roland was getting set starting with the everlasting Bayline in and out of Belize
@ebit4u Roland appears to be A grade out of the gate....taking the ballsy move to revive the iconic scammer brand "itrader" that had been all so successful for ido the fatman fishman and his merry band of thieves. Image
@ebit4u From 2013 to 2016....there wasn't a smash and grab anywhere that didn't itrader and fishman grubby signature on it. To be fair to Teman....right at the time fishman and co are starting to cop a bit of bad press, Temans brothers about to cop a fine Image
@ebit4u and forced by liquidators to putting his nice house up for sale. Roland dusts off the itrader name and gets busy. Amazing really a logo change and back into it. No idea if there was a little deal with fatman fishman for the branding rights as well as the black book of suckers
@ebit4u or Teman had swagger and just run with it because he could. Always have irons in the fire....might as well be a cyprus national anthom. Now entering the Hoch Capital era building itrader and spinning up new brands here and there. Image
@ebit4u For a guy that is pretty good at keeping himself under the radar (I have been able to find a picture of him....just a thousand or so of his bro and associates).... so I reckon he probably got this shits when his name kept getting dragged into the whole ASX/ISX slanging match. Image
@ebit4u $isx #isignthis and their numerous brands including the everlasting and well travelled banking software #probanx and some flyxy flip flappo thingo hes trying to get up. Mostly Johno known for providing an easy API solution for KYC to just about anyone who wants it.
@ebit4u Thing is typically only freshly minted companies have been interested almost all of them quickly outgrown their licenses and just as their customers...turn from customers to victims...Johno's 1 liner defence....they were licensed when we signed them up...fuck you ill sue you.
@ebit4u So yeah I reckon rolly polly was miffed getting strung out in various tit for tat spats between ISX and ASX ASIC and then again across hotcopper. Not sure that anyone was meant to connect the dots between those world class operators Finosoft and Gibitech and the round robin
@ebit4u of cash so fat boy and his bro and other could get their performance shares. ImageImageImageImage
@ebit4u So whats the best thing you could do in this situation well get on the front foot crank up the offshore web fronts, Dust off the Belize license, do a sweetheart deal with the regulator by handing in your license and copping a token fine. Image
@ebit4u its so cool that Roland and Michel got nearly the exact same fine for the same reasons....the only difference is Roland learnt early to give up the keys and move along ....avoids the worry of being struck off or goingto the clink. Image
@ebit4u Apart from the occasional cameo in $isx legal spats...Mr Teman has managed to stay relatively hidden presumably plotting his next move.....Even though he changed his name...I was able to pin him down.
@ebit4u ok maybe not a full identity witsec kinda name change...more of a deliberate typo....Teman is now Teman....not sure about the "Sir" bit...Lord Temam would have a nicer ring to it. Image

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More from @intel_jakal

May 14
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. Image
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. Image
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. Image
Read 19 tweets
May 13
@coloradotravis You'll like this then. Image
@coloradotravis Duh apologies the first table heading should say Tether consolidated entities - balance sheet.
@coloradotravis For a deeper dive in Celsius....here's a breakdown of each financing round
bit.ly/3LkgHRJ
Read 4 tweets
May 8
$CEL those that bought at $0.30 can sell to zero and make multiples. Image
$CEL there are no natural buyers. Just a shitload of in the money sellers. Image
Read 11 tweets
Apr 1
I've updated the #tether attestation #googlesheets analysis. A few changes including fixing a glaring error 😳 #commercialpaper analysis h/t to @accountantInc catching the mistake. Document consolidates all reported quarters to date >>> bit.ly/3Kzkjz2
The #tether #commercialpaper section has been expanded/updated to show not just the net changes but the new issues/rollovers etc....
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Read 11 tweets
Mar 27
Have been working through $CEL #celsiusnetwork's $750m Series B round. Will share #googlesheets file tomorrow. Here's a preview.
3 Dec 2021 #Celsius resolved to issue up-to 36,930 Series B shares at a price of US$20,469 per share. As at 2 Feb 2022 total of 32,182 Series B shares had been issued. I'm presuming #bnktothefuture will have closed out the balance. Image
The #Celsius Cap table (as at 2 Feb) with pre/post money for each issue. Image
Read 9 tweets
Mar 11
So finally got around to plugging in #tether's Dec 2021 attestation numbers. So their non-token debt is now up to 57m which means their net assets are down to $137m imagine having 80Billion in assets and still having to borrow money each quarter to fund operations.... Image
oh and the increase in debt between quarters is $41m which just happens to be the fine #tether copped.
tomorrow i'll publish the link to the financials.
Read 9 tweets

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