Malloc Voidstar posted:

https://tether.to/en/tether-condemns-false-rumours-about-its-commercial-paper-holdings/
Tether is aware of rumours being spread that its commercial paper portfolio is 85% backed by Chinese or Asian commercial papers and being traded at a 30% discount. These rumours are completely false and likely spread to induce further panic in order to generate additional profits from an already stressed market.

qirex posted:

my "our backing is definitely not bad chinese bonds (no you can't see what the backing is)" tshirt is causing people to ask questions already answered by the tshirt

Boxturret posted:

the vaccine is the real plague and the vaccinated are the real ones dying in hospital, makes you think

...! posted:

no it doesn't

Magic Underwear posted:

I wonder if non-true believers are ever going to trust crypto again after this massive crash, but then again conservative boomers are unsophisticated and easy to manipulate. I'll be on the lookout to see if and how crypto starts getting pushed in the right wing sphere.

ryde posted:

https://twitter.com/molly0xFFF/status/1537146477813846016

some employment lawyers are going to be feeling like a child before christmas today


https://twitter.com/molly0xFFF/status/1537155407231213569

also lol at the "free speech" talk, as usual free speech is just complaining about not being able to say the N word rather than any principled stand.

brugroffil posted:

Why do anyone of them think he's "joking" about this? Seems to be his earnest views

Malloc Voidstar posted:

Crusader posted:

Malloc Voidstar posted:

https://tether.to/en/tether-condemns-false-rumours-about-its-commercial-paper-holdings/
Tether is aware of rumours being spread that its commercial paper portfolio is 85% backed by Chinese or Asian commercial papers and being traded at a 30% discount. These rumours are completely false and likely spread to induce further panic in order to generate additional profits from an already stressed market.

https://www.vice.com/en/article/wxnq8b/tether-claims-coordinated-conspiracy-is-trying-to-take-it-down posted:

"Tether has currently zero exposure to Celsius apart from a small investment made out of Tether equity in the company," the blog states, adding that "Tether is aware of other rumours being spread, suggesting that it has lending exposure to Three Arrows Capital—again this is categorically false," and directing people to its own "transparency" web page for the "true facts."

Viscous Soda posted:

Is that AI generated? If so which one?

Beeftweeter posted:

how is celsius doing anyway? did they ever start allowing withdrawals again lmao

infernal machines posted:

Malloc Voidstar posted:

https://twitter.com/CelsiusNetwork/status/1536686121106649089
https://twitter.com/CelsiusNetwork/status/1536770444140810242

no withdrawals and they aren't talking publicly

Shame Boy posted:

like no matter how you try to argue your way out of it it always comes back around to

https://www.youtube.com/watch?v=S4pSp3Km6Mw&t=33s

Malloc Voidstar posted:

https://twitter.com/CelsiusNetwork/status/1536686121106649089
https://twitter.com/CelsiusNetwork/status/1536770444140810242

no withdrawals and they aren't talking publicly

skaboomizzy posted:

Three Arrows Capital (TAC) is a crypto hedge-fund that appears to be collapsing. One of their partners/suckers/victims posted a remarkably clearly written thread about it:

https://twitter.com/Danny8BC/status/1537224378554806272

skaboomizzy posted:

Three Arrows Capital (TAC) is a crypto hedge-fund that appears to be collapsing. One of their partners/suckers/victims posted a remarkably clearly written thread about it:

https://twitter.com/Danny8BC/status/1537224378554806272

a tweeter thread posted:

1) What happened between 3AC and us and what we know so far:
@zhusu @KyleLDavies
2) From Nov 2020, we entered into an agreement with 3AC in which we would pay them a fee to use their trading accounts.
3) As a delta neutral market maker in the crypto markets, we are very sensitive to trading fees. When you are trading 9 figures USD per day, even 1 bip on 100,000,000 is $10,000. If you are doing that every day, it adds up to a lot very quickly.
4) So our agreement with them was: we withdraw whenever we want. 100% of the PNL belongs to us. They are never to move our funds without permission (increases the risk of our positions getting liquidated) and in return, we pay them fees for their service.
5) This was a mutually beneficial relationship for over 1.5 years. We had known them since 2018, thought they were competent and didn’t think they were degen enough to lose billions and not employ basic risk management.
6) On June 12th, with the market dropping and needing some funds from the account for positions on other exchanges, we asked for a withdrawal from the Ops team which was honored.
7) On June 13th, with the continuation of the drop, we asked for a bigger withdrawal. There was no reply but we didn't think much of it at the time. After a while, the market stablized so we no longer needed the funds. We thought maybe they were just busy.
8) Fast forward to 24 hours ago, our funds monitoring script noticed that ~1m was missing from our accounts with them. We reached out to @KyleLDavies , the Ops team on Telegram about the missing funds- no replies. We tried calling them- they were online and they didn't pick up.
9) Then our traders noticed that there were a few rumors circulating on Twitter speculating on 3AC’s insolvency. Since we were directly involved, we felt the need to tell the world about what had occurred and gauge the extent of the 3AC contagion.
10) A lot of people have reached out about what they know- many of whom have direct relationships with 3AC as well.
11) What we learned is that they were leveraged long everywhere and were getting margin-called. Instead of answering the margin calls, they ghosted everyone. The platforms had no choice but to liquidate their positions, causing the markets to further dump.
12) However they still have assets on a number of platforms (you know who you are). We call for you to freeze their assets so that those who 3AC owes can be paid back in the future after legal proceedings.
13) FWIW, for the most part, they aren't speculating with clients' money like Celsius was (maybe a thread another day about our dealings with them in 2019), however, here they did use our funds (~1m USD) to answer their margin calls.
14) Losing a bet is one thing, but at least be honorable and not drag others into your bets who have nothing to do with it. Certainly don’t ghost on everyone since potentially, they could’ve helped you.

quote:

we asked for a bigger withdrawal. There was no reply but we didn't think much of it at the time. After a while, the market stablized so we no longer needed the funds. We thought maybe they were just busy.

PostNouveau posted:

I love when they say things like "hedge fund" and "diversified portfolio" when everything in the crypto space is 99% correlated with the price of Bitcoin. Building up all these simulacra of a modern financial system but all of it collapses equally as soon as Bitcoin takes a poo poo.

Gazpacho posted:

are crypto investors even aware

Gazpacho posted:

are crypto investors even aware