So, it looks like, bfx_drew has just admitted that Tethers are not being printed based on people buying Tethers... but 'people converting other cryptos into USDT".
Wait, what? Tethers are only supposed to be created on DEPOSITS OF USD. Not 'cryptos being converted'. Oops.
Bitfinex Margin Market Update: 633M Tethers out of 725M Tethers on margin, 497M Tethers in active funding.
Believe Tether collapse is imminent. Exercise extreme caution. Strongly advise you get off ANY EXCHANGE which is using Tether ASAP.
Ten Million more Fraudulent Tethers! Coming right up! 'Institutional' customers can't wait to get their hands on more Tethers despite the fact they just got hacked!
Simply amazing.
Bitcoin is up nearly 3000 since Tether printed 230 million in fraudulent tethers. That's over 40 billion to bitcoins market cap.
From just 230m in fake money. Simply amazing.
Bitfinex Margin Update. Margin usage up over 20 million Tethers in just a few hours. 614M Tethers out of 675M Tethers are being borrowed by Bitfinex from Tether to fuel their margin market.
Bitfinex Margin Update. Single account with over 150 million Tethers. Wonder how much BTC this account has been buying non-stop, ala WillyBot fueled by Tethers.