Should-Read: Chris Ellis: Bitcoin: Additional Suspicious Developments-Winklevoss Bitcoin Trust ETF (Pending:COIN): "Summary: Tethers are being issued at a pace of 13 billion per year...

  • No one knows where the money is, but no one seems to care.

  • Bitfinex halted new accounts registrations.

  • Bitfinex employee's profile suggests that he or the company is being investigated.

  • Tether Limited runs the Bitfinex playbook by imposing redemption minimums, effectively freezing customer funds.

  • This idea was discussed in more depth with members of my private investing community, Core Value Portfolio.

In my previous articles, I talked about the surprising correlation between the supply of Tether and the price of Bitcoin.... There are good reasons to believe that Tether Limited is issuing Tethers that are not backed by USD as promised in order to purchase Bitcoin through Bitfinex.... I believe that Tether's correlation to Bitcoin is no simple coincidence. It continues to baffle me why this issue is not the most talked about topic in the Bitcoin community.... At the time of writing, there were over 1.2 billion Tethers outstanding. Meanwhile, no one actually knows or seems to care about where Tether Limited is holding the USD funds. If market participants truly care about the integrity of the cryptocurrency, this should be the most pressing issue at hand....

Many readers have urged me to forward my findings to relevant authorities, and it is interesting to note that a Bitfinex employee's warrant canaries have disappeared. Warrant canaries serve as a warning mechanism that indirectly indicates to the public that the related entities have not been investigated. Their disappearance implies that he or the firm are being investigated by law enforcement...."

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