that's exactly it they did not have the capital, just like any fake crypto they mint Tether aka print it out of thin air they use the newly minted Tether to buy Bitcoin they sell for USD$ they use to buy bonds with, its a total scam
Holy shit. 🤯😮 I love hearing when a relatively small number of people accomplish something super impressive or valuable.
~~~
“Any business that can do $2.85 billion in profit during a 90 day period is hard to ignore. This puts them on a $11.4 billion annual run rate in profit. As Bitwise CIO Matt Hougan pointed out, Tether made more money than Goldman Sachs last quarter.
Messari CEO Ryan Selkis points out that Tether is now 10% of JP Morgan’s net profit, but with way fewer employees.
As I have pointed out before, even if Tether has 100 employees, than the company would be doing more than $100 million per employee in profit.
That is the craziest statistic I have ever heard in business.
How is Tether fraud legal in the US?
Where did the $100Billion come from? Oh that's right they minted it into existence and bought Bonds.
Oh my the profits !!
How is this legal
??? How would they buy bonds without capital in the firm place? What are you talking about.
that's exactly it they did not have the capital, just like any fake crypto they mint Tether aka print it out of thin air they use the newly minted Tether to buy Bitcoin they sell for USD$ they use to buy bonds with, its a total scam
https://www.google.com/search?q=how+does+tether+mint+usdt&oq=how+tether+mints+&gs_lcrp=EgZjaHJvbWUqCAgBEAAYFhgeMgYIABBFGDkyCAgBEAAYFhgeMg0IAhAAGIYDGIAEGIoFMgoIAxAAGIAEGKIEMgoIBBAAGKIEGIkF0gEIOTMwOGowajeoAgCwAgA&sourceid=chrome&ie=UTF-8#cobssid=s
Holy shit. 🤯😮 I love hearing when a relatively small number of people accomplish something super impressive or valuable.
~~~
“Any business that can do $2.85 billion in profit during a 90 day period is hard to ignore. This puts them on a $11.4 billion annual run rate in profit. As Bitwise CIO Matt Hougan pointed out, Tether made more money than Goldman Sachs last quarter.
Messari CEO Ryan Selkis points out that Tether is now 10% of JP Morgan’s net profit, but with way fewer employees.
As I have pointed out before, even if Tether has 100 employees, than the company would be doing more than $100 million per employee in profit.
That is the craziest statistic I have ever heard in business.
$100,000,000+ in annual profit per employee.”