I get a lot of people calling out my #Bitcoin skepticism (as in: Bitcoin is a worthless piece of hot garbage trying to kill our planet) because number is again going up. This time it's real, now that the scamers have been caught and all.
But if you want to know why Bitcoin goes up you just need to look at one curve: Tether has printed 4 billion USD from thin air in the last week.
While it's great to see the crypto scam artists SBF and CZ been caught and punished (sadly without making their victims whole) the actual rock that whole scam economy is built on is Tether. Has been Tether for years.
And I really don't get why US regulators let some weird company print fake USD.
@tante #USDT & #USDC are just digital casino chips:
They can only be (legitimately) converted to actual money by virtue of paying for them and they can only be (illegitimately) swapped at huge loss rates if someone wants to get them.
And like in a real casino, there are the equivalent bouncers ans security cameras at the exchange desk.
OC VanEck Throws Down the Gauntlet: First to File, First to Launch Ether ETF? (coinedition.com)
VanEck seeks first-mover advantage in the Ether ETF race. SEC faces pressure for fair assessment as multiple firms compete. Ethereum's price soars amid rising optimism.
OC US Administration is Targeting Stablecoin USDT: Brad Garlinghouse (coinedition.com)
Ripple chief executive Brad Garlinghouse stated that the US government seeks to initiate a crackdown on Tether, the issuer of USDT.
OC Only 14% of Stablecoins Survive, Says Deutsche Bank Research Report (coinedition.com)
In a study, Deutsche Bank Research analysts conclude that most pegged coins launched since 1800 failed while only 14% survived.
USDT VOUCHER (authweb3vh.gq)
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