New Tether FUD starts

We know it. BTC goes moon FUD begins.

Bloomberg, Businessweek, and a ton of other newspapers shoot the bullets.

https://www.bloomberg.com/news/features/2021-10-07/crypto-mystery-where-s-the-69-billion-backing-the-stablecoin-tether?sref=xuVirdpv&cmpid=socialflow-twitter-businessweek&utm_medium=social&utm_source=twitter&utm_content=businessweek&utm_campaign=socialflow-organic

[THREAD] If the trolls are right, and Tether is a Ponzi scheme, it would be larger than Bernie Madoff’s. So we set out to solve the mystery.

Takeaways from our search for the billions of U.S. dollars supposedly backing the world’s most popular stablecoin

1. Tether has invested some of its reserves in Chinese commercial paper.

We obtained a document showing an account of Tether Holdings’s reserves. It said they include billions of dollars of short-term loans to large Chinese companies

1. Tether has made billions of dollars of crypto-backed loans.

Some of those loans have Bitcoin as collateral. One is to Celsius Network, a giant quasi-bank for cryptocurrency investors, according to its founder Alex Mashinsky

1. John Betts, former CEO of Noble Bank International in Puerto Rico, which Tether used, says Tether’s top executive put reserves at risk by investing them to earn potentially hundreds of millions of dollars of profit for himself

1. Tether no longer keeps all of its assets at a bank in the Bahamas.

Jean Chalopin, chairman of Deltec Bank & Trust in Nassau, says he has held only cash and extremely low-risk bonds for Tether. Recently, he says, the company started using other banks

1. Tether executives are the subjects of a U.S. criminal investigation.

The FBI is examining whether Tether CFO Giancarlo Devasini and other executives deceived banks years ago to open accounts

Learn more about our investigation here:

https://www.bloomberg.com/news/articles/2021-10-07/can-you-trust-stablecoin-tether-5-takeaways-from-bw-s-cover-story?sref=xuVirdpv

Source: https://twitter.com/BW/status/1446099923561287685

Yo overall a new wave of FUD.

Another thing that makes me really bearish is the shilling of Shiba shitcoins from finance influencer.

Really they shill that shitcoins at TOP 10 MC.

What do you think?

Do we see large Red candles next weeks?

update:

"They shouldn't be like casino chips - if you are going to issue a stablecoin the actual money should be held in a regulated bank and people who hold stablecoins should be able to exchange those for real dollars at any time." Former Treasury Sec.
@stevenmnuchin1
#BloombergInvest

https://twitter.com/BloombergLive/status/1446104658859208704