Jakal Profile picture
investigative due diligence
May 14 19 tweets 11 min read
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. 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.
May 13 4 tweets 2 min read
@coloradotravis You'll like this then. Image @coloradotravis Duh apologies the first table heading should say Tether consolidated entities - balance sheet.
May 8 11 tweets 5 min read
@MikeBurgersburg $CEL under $2 #mikewasright $CEL those that bought at $0.30 can sell to zero and make multiples. Image
Apr 1 11 tweets 7 min read
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....
Mar 27 9 tweets 5 min read
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
Mar 11 9 tweets 3 min read
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.
Jan 31 13 tweets 4 min read
Look at that....Primo directorship of a UK company with GBP1Billion of capital (US$1.Billion give or take). Pretty cool hey.....and even better....he had the best investors.... Image Himself. Why have outside investors when you can write the cheque yourself. pretty cool being able to write a single check for $1.4billion..... Image
Dec 31, 2021 14 tweets 6 min read
Pondering the tax consequences of the #celsius #hodl and #accrued profits come tax time. I thought I'd brush up on my #cryptotax understanding I found the following blog to be really clear, concise and useful.
cryptotrader.tax/blog/the-trade… h/t @coinledger 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).
Dec 11, 2021 15 tweets 10 min read
Just read your article on optionsxo fintelegram.com/tag/optionsxo/
I concur with your thoughts on #tomerlevi he was central to these scams
#tomerlevi was named as the owner in court filing against #toromedia #binaryoptions #scam
en.globes.co.il/en/article-isr… Image
Dec 1, 2021 14 tweets 7 min read
@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
Nov 29, 2021 4 tweets 2 min read
#celsius flywheel of bullshit. Image we have no external shareholders.....other than those external shareholders we have..ffs #flywheelofbullshit Image
Nov 29, 2021 7 tweets 2 min read
So the second you transfer any digital asset into a #celsius account beneficial ownership changes. Its no longer your asset. Image This means your ability to manage risk becomes binary - either the assets are with Celsius or not with Celsius.
Nov 28, 2021 7 tweets 3 min read
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?
Oct 25, 2021 18 tweets 5 min read
just got around going through #celsiusnetwork financials for Dec 2020 accounts. (see my previous posts re:$150m secured debt). I probably won't finish off the analysis until end of the week (pulling all the data into sheets is a pain). here's something to make you go 🤔 For clarity even though its a UK company all figures are in US'000.....which means the assets shown are US$4.709B and 'net assets' are US$1.44B.....I'll admit. once I realized the numbers were billions not millions....I was kinda impressed...
Oct 11, 2021 5 tweets 3 min read
I've been asked a couple of times how I was able to aggregate the daily #tether transparency pages so I thought I'd share the data.
Shared googlesheet >>> bit.ly/3iQ3W5U #OSINT While you could scrape the html table direct from the transparency page its only provides the last 24hours.
Wayback machine captures the page multiple times per month. Use the IMPORTHTML function (USDT is "table 3")
Jun 28, 2021 12 tweets 12 min read
@RealWillyBot @jimcramer While its great to see #MSM's epiphany (albeit 3 years late) that #tether might be #dodgy. perplexing that #tether is still being discussed as if its a potential risk vs a flat out fraud. Not only is it obvious that tether are NOT the 7th largest holder of commercial paper. Image @RealWillyBot @jimcramer While commercial paper is s Trillion$ market its long been in decline, average term is 270 days and almost always rolled over (and if its not most likely refinanced for cheaper longer term debt - hence the decline)
Jun 12, 2021 12 tweets 15 min read
@CasPiancey @BennettTomlin @ThinkPolOfficer One of the niftiest SNA I did on #quadriga's #paytrn was scraping #michaelxbt google+ links. I would have been able to pull even more degrees of connections if I had thought of it earlier.
Link analysis >>
bit.ly/3whv0j7 @CasPiancey @BennettTomlin @ThinkPolOfficer As the week I was pulling the data was literally the same week that google began to shut down the service. Over time the profile images also disappeared as I had just used the image lines direct from the google+ account
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.
May 14, 2021 15 tweets 5 min read
Following the release of #tether's distended testicle I mean attestation. I attempted to reconstruct some numbers....as mentioned only additional information I was able to yield was there was an additional $13m of undisclosed debt. Armed with the donkey boys amazing double barrel pie chart I've added to the original analysis. The same doc previously shared which I'll share again at the end.
May 9, 2021 11 tweets 11 min read
@haydentiff @NitrousDelivery @BennettTomlin So the fake unlicensed Gambian entity was the first Euro EXIM "group company" it would have been setup (and sold) as turn key "shelf company" - Gambian incorporated with banking license and #probanx banking software (more than half these fake Gambian companies @haydentiff @NitrousDelivery @BennettTomlin not only turned out to be fake/unlicensed companies that #probank provided banking software for but Probanx were the facilitators of registering the domains/branding etc. >>> here's the list
Feb 13, 2021 6 tweets 5 min read
@FinTelegram In your #itradefx article I see you were able to confirm #pradexx as their payment processor. I looked at the sub-domain uiservices.pradexx.com checking its IP address provides a pretty interesting list of other 'brands'

fintelegram.com/pradexx-again-… ImageImage @FinTelegram I see #pradex and their dodgy partners are still spinning up new reskins of their scammy sites. Keep an eye out for #ftspaysolutions #kopayment #payotop #securepayment3d Image