🚨 BREAKING: "#Ripple's motion is GRANTED in part as to Parts A, C-F, H-K, N, and P of Entry 1 of Appendix A, and GRANTED in full as to Entry 9 of Appendix A. To the extent the SEC believes discrete portions of the notes in Entry 1... (1/12) #Retweet#xrp
express the notetakers’ own thinking or reflect deliberations or communications among SEC staff, the SEC may seek leave for limited redactions. Defendants’ motion is otherwise DENIED."
This doesn't look like a victory for #Ripple. (2/12)
For more info, look at the tables below. The green parts are GRANTED. (Via @FilanLaw) (3/12)
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You learn something new everyday. 'HODL Mode' = 'Your Account Is Frozen'.
Celsius gives the finger to their clients & tells them: "Thank you for playing". 😉
Next steps: 1) Platform goes down: "Under Maintenance". 2) Issues with banking partners, can't withdraw funds. 3) You can ONLY deposit funds at very high yields. 4) Celsius collapses. 5) Insiders claim they are victims & their platform was attacked. 6) Investors lose their money.
🚨 DEBT PROBLEMS: Moody's has warned that El Salvador faces debt restructuring & another downgrade due to #Bitcoin trades. "El Salvador’s Bitcoin trades are adding risk to a sovereign credit outlook that was already weak and reflecting a growing chance of default". #Retweet (1/5)
El Salvador’s current ownership is 1,391 #Bitcoin. At current prices, the holdings are potentially down between $10-20M, Moody’s estimates. President #NayibBukele has said he buys the #cryptocurrency using his phone, but the government doesn’t publish data on its holdings. (2/5)
El Salvador has an $800M bond maturing in Jan 2023, trading at 78.8 cents on the dollar, giving it a yield of over 35%. The high yields have cut off access to foreign bond markets & lack of a deal with IMF is adding to the country’s risk of defaulting, according to Moody’s. (3/5)
🚨 BREAKING: The U.S. Senate sent a letter requesting immediate information from #Tether about their reserves, redemption process, issuance, and activities due to "several market integrity concerns" as stated by the PWG.
Tether has been given 10 days to respond. #Retweet
Question number 5. This is going to be so much fun! 🙈
Interesting Note: The letter is addressed to #Tether CEO Jean Louis van der Velde, who hasn't been seen/heard for quite time...
▶️ El Salvador & Bitcoin Bond: Today, El Salvador is practically shut out of the traditional bond market. The only potential buyers of the new $1B "#Bitcoin bond" are small investors and #crypto enthusiasts. #Retweet 🧵1/4
The new bitcoin bond will have an annual coupon of 6.5% far below the prevailing interest rate on the country’s existing overseas bonds, which have seen yields spiral higher this year as investors baulk at the increasingly unorthodox direction of #Bukele’s economic policy. 2/4
The sell-off in Salvadoran debt continued on Monday, pushing the yield on a bond maturing in 2032 above 13%. The country has 10 international dollar bonds worth $US7.65 billion, roughly 30% of its GDP and about a third of its overall government debt. 3/4
🚨 #Tether is already violating the terms of its settlement with @CFTC. They are making public statement denying & misrepresenting the findings and conclusions of the CFTC Order. Please #Retweet. /1
They falsely claim that the CFTC order didn't find any "issues relating to Tether’s current operations." FALSE. CFTC scope of investigation included the time period from Jun 1, 2016 - Feb 25, 2019. Therefore, CFTC did not investigate any activities before & beyond this period. /2
#Tether falsely claims that "there is no finding that tether tokens were not fully backed at all times". This is not true. #CFTC has proven beyond a reasonable doubt that Tether lied. Below is evidence from the Press Release, the actual Order, and the Statement by Commisioner. /3
🚨 BREAKING: #CFTC orders #Tether and #Bitfinex to pay fines totaling $42.5M. Tether will pay $41M over claims that #stablecoin was fully backed by US Dollars. #Bitfitnex will pay $1.5M for illegal transactions and violation of prior CFTC Order.
"The order requires Tether to pay a civil monetary penalty of $41 million and to cease and desist from any further violations of the Commodity Exchange Act (CEA) and CFTC regulations, as charged."
"As found in the order, Tether held sufficient fiat reserves in its accounts to back USDT tether tokens in circulation for only 27.6% of the days in a 26-month sample time period from 2016 through 2018."