The Tethers (USDT) Thread

Lampwick said:
Exchanges are becoming more desperate and will fail, triggoring a wave of other exchange failures. Look at Coinbase. Remember when they had a bunch of guidelines about which coins they would list? Now they will list anything to try to get new USD into the system. They just closed their institutional business and laid people off.

What? Where are you getting your facts from?

I still see Coinbase's institutional desk.

https://www.theblockcrypto.com/2019...bases-institutional-business-heres-whos-left/
 

Lampwick

Woodpecker
Gold Member
Jaydublin said:
^^^ can you explain why it would collapse crypto?

sTyXQG8.png
 

Lampwick

Woodpecker
Gold Member
croquet said:
What? Where are you getting your facts from?

I still see Coinbase's institutional desk.

https://www.theblockcrypto.com/2019...bases-institutional-business-heres-whos-left/

This is what I was referring to:

Coinbase Shuts Chicago Office as Crypto Slump Continues

You're correct, their entire institutional business is not entirely shut down, I misspoke. However, even the headline for the article you cited is "After 4 key exits from Coinbase’s institutional business, here’s who’s left". This is not the hallmark of a healthy institutional business, which was my broader point.
 
If someone has usd tether in binance right now, are they able to switch it to bitcoin? I know they froze usdt withdrawals a few days ago. But is USDT still frozen from withdrawals on binance?
 

BURNΞR

Pelican
I'm not really sold on the 7k BTC hack being a hack. Second time 7k BTC has been hacked previously from Binance. Weird coincidence.

USDT/cryptocapital/bitfinix days are numbered. This is just my hunch but it looks like they are doing everything they can to stall the American government from taking action before they quietly exit out the backdoor. I just cannot see any of these groups successfully fending off the attorney general legally. Already bitfinix is blocking withdrawals and this is reminiscent of Quadrigacx's last days. It's possible that Binance has been tipped off about the timing of bitfinix getting shut down and is preemptively blocking withdrawals to prevent a bank run on their own exchange.
 
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