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....
oh and the increase in debt between quarters is $41m which just happens to be the fine #tether copped.
I ended up stripping the doc back to make it as clean as possible. What it does include is a pretty neat dataset of USDT and XAUT for CY2021 scraped from tether's transparency page saved by wayback machine.
There's a link to an older googlesheet with USDT scraped data from 2015 through to 2021. That's how I was able to pinpoint the $100m repayment from Bitfinex to Tether...back in July 2019.
But the thing that got me scratching my head the most....firstly because I don't remember coming across it before (but my notes tell me otherwise).
But mostly because it has never got much traction across the rhelms of tether truthers...
I'm out of time today so I'm just going to throw out this screen shot to see what comes back.
The tax framework I had assumed would be applicable was/is pretty well as I expected. Most of which I've learnt over the years the hard way by getting shit wrong (don't get me started on the pain of get pegged in the bum by the tax-office for failing rollover relief tests).
Paying the tax piper..Income tax or Capital Gains. What's not well understood by the swinging dick muppet brigade is referals fee's, staking, mining, shilling and lending ..... that's ALL income tax. You might think it all pools into one big HODL fantasy. but it don't.
I came across these thieves while looking at $isx customer Insightgroup OU. #isignthis was (I guess still is) seeking $1.6m damages from @ASX why? apparently #insightgroup was so infuriated by the "false" #ASX claims against #isignthis it terminated its services. @FinTelegram
@newmoneyreview Well this is the next thing to look at....who actually paid for and were issued CEL tokens at 30c ....ftx and bitfinex I'm guessing between the three and their perifeey they would control literally the whole market...it trade a like a non bouncing dead cat.
@newmoneyreview CEL tokens issued 30cents went 10x by Q3-2020...Dec 2020 the last month of the financial period the price went vertical closing year out at $5.45. adding $2B to Celsius balance sheet....ironically rather than be penalised for issuing far more than market demand
@newmoneyreview they instead gorged their own balance sheet by holding in treasury. How anemic would this balance sheet be if the treasury shares were booked at cost (zero) or issue price (30cents).
So the second you transfer any digital asset into a #celsius account beneficial ownership changes. Its no longer your asset.
This means your ability to manage risk becomes binary - either the assets are with Celsius or not with Celsius.
So what? As long as they pay out best in market returns why would you care? 1) Risk vs return. Bitcoin or bottletops, Buffett or Saylor- it doesn't matter who or what you can't disconnect risk from return.
Today I wasted too much time trying to reconcile some fairly basic numbers for #celsius which was a bit frustrating and I was scratching around trying to work out where I'd gone wrong.
So I'll throw it out to twitter ..... Someone tell which one of these numbers on celcius.network/cel-token-expl… page is actually correct?
Ok its a bit of a trick question....As literally all of them are incorrect in one form or another.