Tether did 5BB+ in profit in first half = Greatest biz in history

G

GlobalMacro90

Tether did over 5BB in PROFIT in just the first half of 2024 ... all with a whopping ~100 employees. Lets be real ... this has to be the greatest business of all time...

That is 50 million in profit PER EMPLOYEE, and the year is only half over.

They now hold nearly 100BB in US treasuries, bills and Repo. Tether holds more treasuries than Germany, the UAE and Austalia.

They own 4.7BB in bitcoin

They have EXCESS reserves now of 5.3BB. Meaning their assets exceed their liabilities (aka outstanding tether tokens) by over 5BB. Thats a hell of a cushion.

Tether has a shady past I admit, but those days are done.

Tether truthers @RedDuke desperatly holding on to their pet conspiracy theory (based on lack of audit and one Bloomberg article from 2017) have to be in shambles.

https://tether.io/news/tether-q2-20...oup-consolidated-equity-at-almost-12-billion/
 

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GlobalMacro90 said:
Tether did over 5BB in PROFIT in just the first half of 2024 ... all with a whopping ~100 employees. Lets be real ... this has to be the greatest business of all time...

That is 50 million in profit PER EMPLOYEE, and the year is only half over.

They now hold nearly 100BB in US treasuries, bills and Repo. Tether holds more treasuries than Germany, the UAE and Austalia.

They own 4.7BB in bitcoin

They have EXCESS reserves now of 5.3BB. Meaning their assets exceed their liabilities (aka outstanding tether tokens) by over 5BB. Thats a hell of a cushion.

Tether has a shady past I admit, but those days are done.

Tether truthers @RedDuke desperatly holding on to their pet conspiracy theory (based on lack of audit and one Bloomberg article from 2017) have to be in shambles.

https://tether.io/news/tether-q2-20...oup-consolidated-equity-at-almost-12-billion/
More...


What are they paying you? Whatever it is it's too much. Right, that $5B is a legit figure.

Dude, why "5BB"? You keep doing that... I do not think it means what you think it means. "MM" in say $5MM" refers to mille-mille. Latin. 1000 thousand.
 
Well there is evidence that anybody who tried to redeem tether tokens for USD for their USD ... and tether has been in biz for like 10 years.

You gotta come up with something
 
*so far

Ponzi schemes always pay out until they don't and then it collapses

This is always an argument with ponzi schemes "the payouts work" ... Yeah they do for as long as there are more suckers flocking in, once people try cashing out.... OOPSIE!! There is NO money left!
 
Academic research
Research by Griffin and Shams found that Bitcoin prices increased after Tether minted new USD₮ during market downturns. They speculated this was an attempt at market manipulation.[54] These findings were contested by the Bitfinex cryptocurrency exchange who claimed the authors cherry-picked data and lacked a complete dataset.[55] Subsequent researchers found little to no evidence that Tether USD₮ minting events influenced Bitcoin prices, supporting the Bitfinex critique.[56][57][58] In 2022, research found that Bitcoin prices only increased when Whale Alert tweeted to the public that Tether had minted USDT, supporting a classic investor response to news announcements.[59] Academic research following the Griffin and Shams study did not conclude that Tether manipulated Bitcoin.[56][57][58][59] The CEO of Tether and Bitfinex commented on the academic debate: "Bitfinex nor Tether is, or has ever, engaged in any sort of market or price manipulation. Tether issuances cannot be used to prop up the price of Bitcoin or any other coin/token on Bitfinex."[60]

Media research
Bloomberg News reporters found irregularities on the Kraken cryptocurrency exchange, with small market orders moving the market price of Tether as much as larger market orders from 1 May 2018 to 22 June 2018.[61] New York University Professor Rosa Abrantes-Metz and Federal Reserve bank examiner Mark Williams suggested the unusual order sizes were indicative of wash trading by automated trading programs.[61] The Kraken cryptocurrency exchange offered a rebuttal of these claims, stating that Bloomberg News misunderstood the concept of stablecoin and that the market price of Tether was not greatly influenced by market order size because Tether was a stablecoin pegged to the United States dollar.[62] The user responsible for unusual order sizes also confirmed that the oddly specific order sizes and decimal places were "randomly selected".[62] The Kraken cryptocurrency exchange rebuttal of the Bloomberg News findings were later supported by academic research concerning the stability of stablecoins.[63]

Legal research
On 20 November 2018, Bloomberg reported that U.S. federal prosecutors are investigating whether Tether was used to manipulate the price of Bitcoin.[64][65]

According to Tether's website, tether can be newly issued by purchase for dollars or redeemed by exchanges and qualified corporate customers, excluding U.S.-based customers. Journalist Jon Evans states that he has yet to find publicly verifiable examples of a purchase of newly issued tether or a redemption in the year ending August 2018.[66]
 
GlobalMacro90 said:
Well there is evidence that anybody who tried to redeem tether tokens for USD ... and tether has been in biz for like 10 years.

You gotta come up with something
More...


No I don't. You're posting a practical use case of fractional-reserve. Let's see what happens if Tether were forced to redeem their entire reserves. You're pot committed bc you know what will happen when the music stops on Tether. BTC $5K.
 
poopy said:
No I don't. You're posting a practical use case of fractional-reserve. Let's see what happens if Tether were forced to redeem their entire reserves. You're pot committed bc you know what will happen when the music stops on Tether. BTC $5K.
More...

This is a fever dream
 
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