John Law

[John Law @johnlawxbt]

@13213164105137V @Halsrethink Yup. A tool used to create internecine conflict and mayhem, but no one is fooled anymore who is behind it.

[John Law @johnlawxbt]

@MikeBurgersburg Understanding Tether is like trying to unweave the connections among Banco Ambrosiano, the P2 Lodge and the CIA

From a trading perspective there are too many unknowns for a non-insider to hold USDT or to short it

https://t.co/XKPeNI6o4S

[John Law @johnlawxbt]

@MikeBurgersburg The fact that someone like that is involved explains why Tether is and will continue to be protected

BCCI Safari Club 2 electric boogaloo

[John Law @johnlawxbt]

@ReidTymcio @ZekeFaux @jp_koning @KyleSamani Samani is conflating not having USD banking with "not caring" about yield

The point he is trying to make is that USDT is not being redeemed because offshore or grey area holders have no other alternative

The rate insensitive argument he is making is obviously wrong like you say

[John Law @johnlawxbt]

@D4rkSh4wn @insiliconot @tier10k https://t.co/u7fsGwNCcz

[db @tier10k]

@inteldotwav https://t.co/EA4SRemeMq

[John Law @johnlawxbt]

@insiliconot @D4rkSh4wn @tier10k Do a search of his earliest tweets then. He was a general UK news guy until he jumped into an argument defending Deltec and Tether and shilling what turned out to be completely fraudulent tokenized stocks on FTX

There is no reason to think he is a good actor

[John Law @johnlawxbt]

@insiliconot @D4rkSh4wn @tier10k The breaking crypto news accounts all do this. That's the reason they exist. You think the any of them are here to give plebs unbiased and honest info?

[John Law @johnlawxbt]

@BennettTomlin @Protos Another good point you made is that USDT is under the Digfinex shell, so sanctioning iFinex would only ban US gov officials from owning LEO

But hey the bill got some nice headlines and the idea that the CIA is working hard to curb China + take down Tether

[John Law @johnlawxbt]

@BennettTomlin @Protos The bill makes so little sense that it makes you wonder if it's misdirection

iFinex is just casually inserted along with little used but openly funded Chinese blockchain projects

It's hard to believe the CCP is behind Tether when a major use case is avoiding capital controls

[John Law @johnlawxbt]

@LiquidatedChad @NotChaseColeman Looking at incentives, it's not clear why the CCP would support Tether. It encourages exfiltration of capital and is at least partly backed by USTs

It is kind of odd that iFinex is shoehorned in with little used but openly Chinese blockchain projects

Bill seems like noise

[John Law @johnlawxbt]

@intel_jakal @adamglogowski Ivan Manuel Molina Lee is the Panamanian, but who is the Israeli in custody? Oz Yosef?

[John Law @johnlawxbt]

@NotChaseColeman So deploying $36B to Tether is clearly irrational and non-economic. The only explanation is that *if* the money is real then it was being laundered

Alameda takes over the USDT money mule service from Reginald Fowler and embezzles a bunch of the money and blows up the same way

[John Law @johnlawxbt]

@NotChaseColeman @nic_carter @CryptoDmack I mean, if the answer is that Alameda involved in some dark money laundering op that blew up then at least it would make sense. But this idea that they profitably sold billions in USDT all above board? It's insane

[John Law @johnlawxbt]

@nic_carter @NotChaseColeman @CryptoDmack If this was such a simple and profitable arb, then why were you not in this trade?

If you were then I would love to hear the mechanics of it

[John Law @johnlawxbt]

@NotChaseColeman @nic_carter @CryptoDmack The Alameda USDT arb theory raised more questions than answers imo

https://t.co/06JxcZE385

[John Law @johnlawxbt]

@Alice_comfy When held up to scrutiny I'm not sure it makes sense. What is the source of this USDT demand sink that buys at a premium and never redeems?

Also, if the USDT premium buyer does exist, then why did Alameda redeem $4B directly at a discount net fees?

https://t.co/4o44U193uL

[John Law @johnlawxbt]

@NotChaseColeman One need only look at the fallout from US Terra going to zero to understand will happen to prices. And Tether is 10x larger.

It is reasonable to disagree on the likelihood of Tether becoming impaired, but not so on the effect if such an event occurs.

[John Law @johnlawxbt]

@JoeCarlasare @profplum99 But in the hypothetical case Tether goes to near zero, who would trade "valuable" BTC for "worthless" USDT?

[John Law @johnlawxbt]

@iii_JLR @Halsrethink Important to remember who deposed Mossadegh which (eventually) led to the Ayatollah taking power

The religious fanatics in charge of Iran are bogeymen installed by certain elements of the US / UK / Israel to sow division for their own purposes

[John Law @johnlawxbt]

@Halsrethink It's too bad that anything short of complete and total obsequiousness earns a mute these days.

At it's best, Twitter can function as a place of respectful debate, yet it has devolved into a megaphone to an echo chamber where anything less than fawning adulation gets you blocked