@crypto if journalists were on the job they would be asking the crypto exchanges to go on record if they’ve engaged with swaps with tether and if so to declare the magnitude of the swaps they have.
https://twitter.com/business/status/1478824031910563850
Seems pretty obvious to me that Tethers commercial paper holders are nothing more than IOU’s from crypto wallet providers and crypto exchanges. The ‘ecosystem’ has pulled in crypto investor cash by the billions and given them tethers as an on ramp to begin trading crypto.
This will be the biggest story of 2022. The truth about the ponzi that is the crypto ecosystem is coming out. All those billions of inflows have in turn gone on to the balance sheets of crypto exchanges and used to fund huge advertising budgets that sucker in more people.
@crypto should do some real journalism and help Bloomberg news readers understand the crypto scam.
We need crypto exchanges to be forced to produce audited balance sheets. Then we will all see the flow of funds.
Suckers opening digital wallets
Cash flowing into the ecosystem for worthless shitcoins
Cash flowing out of the ecosystem to line ponzi perpetrators pockets
Suckers opening digital wallets
Cash flowing into the ecosystem for worthless shitcoins
Cash flowing out of the ecosystem to line ponzi perpetrators pockets
The result is a ~2.5 trillion ponzi crypto ecosystem with virtually now actual cash in it. No ability to generate cash. Completely reliant on inflows to prevent an implosion. What giant fraud played on greedy uninformed suckers that think they understand tech and finance.
But they get lost in the complex it of both and pretend to understand more than they do. Meanwhile the crooks like the Quadriga Fintech founds new it was a ponzi. New all the buzz words to use to sucker people.
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