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⚯ M Cryptadamus ⚯ | @cryptadamist@universeodon.com Profile picture
@Cryptadamist
Apr 28 • 4 tweets • 3 min read Twitter logo Read on Twitter
ba-dum-ch $SBNY
"SBNY intended to pledge these loans to the Federal Reserve Bank of New York as collateral for Discount Window lending. However, FRB would not accept the loans as collateral because they were not eligible as many of them had foreign limited partners."

#fundbanking ftw Image
the jokers at $SBNY tried to lobby and/or sue their way into forcing the federal reserve system of the United States to illegally accept loans made to foreign venture capitalists as collateral. you can't make this stuff up. @Frances_Coppola @davidgerard @ahcastor @thebankzhar
$SBNY executives illegally/fraudulently included #FundBanking loans to foreign venture capitalists in their collateral declarations up to very bitter end.

"muh operation chokepoint" Image

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More from @Cryptadamist

⚯ M Cryptadamus ⚯ | @cryptadamist@universeodon.com Profile picture
Apr 28
🚨Ω🚨
#CrossRiverBank has been Coinbase's customer facing bank for years and surprise surprise¹ it's been facilitating all kinds of fraud for years. coincidence? $COIN

¹ not a suprise at all if you've been following my extensive threads on the subject
🧵2/Ω
I made a bunch of Cross River Bank threads so here's some of them... but let's just start with the money shot. This bank took investment from corrupt Malaysian govt officials both before and after #a16z invested in it.
🧵3/Ω
Read 11 tweets
⚯ M Cryptadamus ⚯ | @cryptadamist@universeodon.com Profile picture
Apr 28
🧵1/Ω Fun fact: almost no one has tried to redeem #Tether on eth chain since the week of feb. 6th.

This is based not just on actual burns of tokens (there haven't been any) but also on people sending their $USDT to the Tether Treasury or the Bitfinex wallet that redeems Tether. Image
🧵2/Ω
There have been ZERO redemptions of #Tether (or even attempts at redemptions!) in 6 weeks now.
This is the longest uninterrupted stretch w/ no redemptions for $USD in #Tether's history since The Troubles of 2019/2019 when $USDT mkt cap was a tiny fraction of what it is now Image
🧵3/Ω
You would think that surely *someone* in their customer base might have tried to make a redemption, especially given all the tempestuous events like the $USDC depeg etc.

But no one has. Image
Read 7 tweets
⚯ M Cryptadamus ⚯ | @cryptadamist@universeodon.com Profile picture
Apr 27
#Clownbase went public w/Wells response 🤡. We can glean some insight into what the SEC wants from it:

"Overhaul its entire biz model to register as an NSE/clearing agency potentially requiring $COIN to jettison its entire customer-facing business"

ngmi
assets.ctfassets.net/c5bd0wqjc7v0/2… Image
The SEC is not legally allowed to say a damn thing in response. $COIN trying to move the law w/the lever of public opinion might have worked before millions lost their savings to FTX, Celsius, Voyager

Now it looks like bayonet charging a machine gun nest.
bettermarkets.org/newsroom/coinb…
🧵 #Clownbase's wells submission:

1. threatens the SEC
2. contains blatantly untrue claims about American cryptocurrency jurisprudence Image
Read 5 tweets
⚯ M Cryptadamus ⚯ | @cryptadamist@universeodon.com Profile picture
Apr 5
🧵1/Ω
Amended $MCB 🧵: $MCB's auditor Crowe LLP raised a "critical audit matter" relating to the "qualitative" & "subjective" nature of $MCB's measurements of how many loans would go bad. (@RasooliSheida made a mistake w/r/t whether it was on the $MCB site but it's still bad. Image
🧵2/Ω
$MCB took a huge $35 million charge that wiped out their profits for 2022-Q4 in anticipation of getting fined civilly and possibly criminally for #PPP loan fraud of some kind.
🧵3/Ω
They did that because... they're under investigation. At the very least they are gonna get hit with major civil violations, but I have a hunch it will escalate to criminal bc of the #CryptoCom/#Binance connection... $MCB
Read 15 tweets
⚯ M Cryptadamus ⚯ | @cryptadamist@universeodon.com Profile picture
Apr 4
🧐 $MCB's twitter account announces that they will be getting new deposits from America's "visas for cash" program...

they hired the team from $SBNY.

@eliant_capital @AlderLaneEggs @ParrotCapital @otteroooo @Frances_Coppola @davidgerard @ahcastor
@eliant_capital @AlderLaneEggs @ParrotCapital @otteroooo @Frances_Coppola @davidgerard @ahcastor 🧵 BTW since when do law firms double up as journalistic enterprises and release "breaking news"? $MCB

🧵 If you're unfamiliar with the EB-5 "visas for cash" program, here's some of its greatest hits:

Vermont's biggest scandal ever: bostonmagazine.com/news/2022/01/3…

Massive real estate project fraud in Palm Beach: therealdeal.com/magazine/miami…
Read 6 tweets
⚯ M Cryptadamus ⚯ | @cryptadamist@universeodon.com Profile picture
Apr 1
🧵1/Ω
Surely it's just a coincidence that $2 billion worth of #Tether was printed at what was probably the exact same hour on the same day the US government moved to dump $212 million in Bitcoin onto the market at #Coinbase and half of that was $USDT accepted in $COIN's market?
🧵2/Ω
🧵3/Ω
Read 7 tweets

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