Bloomberg reporter Matt Leising, who obtained bank statements from Tether's bank, Noble Bank in Puerto Rico, found that for those months, the number of dollars in the bank matched the amount of Tether outstanding. He talks about what this means, whether it matters that both Tether and Noble Bank were founded by Brock Pierce, and whether it matters that the statements are not the most recent. We also touch on other investigations involving Tether, including the CFTC's investigation into whether Tether is fully backed by dollar reserves, the Department of Justice's investigation into whether Tether was used to manipulate the Bitcoin price, and why both Tether and Bitfinex have had such a hard time maintaining banking relationships.
Thank you to our sponsor!
CipherTrace: http://ciphertrace.com/unconfirmed
Episode links:
Matt Leising: https://www.bloomberg.com/authors/AGfq0QVqo0I/matthew-leising
https://mobile.twitter.com/mattleising
His story on Tether: https://www.bloomberg.com/news/articles/2018-12-18/crypto-mystery-clues-suggest-tether-has-the-billions-it-promised?srnd=premium
CFTC subpoeanas Tether and Bitfinex:
https://www.bloomberg.com/news/articles/2018-01-30/crypto-exchange-bitfinex-tether-said-to-get-subpoenaed-by-cftc
Bitfinex moves to Noble Bank: https://www.bloomberg.com/news/articles/2018-05-24/bitfinex-said-to-find-bank-in-puerto-rico-after-wells-fargo-exit
Tether moves to Deltec bank: https://www.bloomberg.com/news/articles/2018-11-02/bank-tied-to-tether-goes-quiet-on-relationship-with-crypto-firm
DOJ’s investigation into whether Tether was used to manipulate the Bitcoin price: https://www.bloomberg.com/news/articles/2018-11-20/bitcoin-rigging-criminal-probe-is-said-to-focus-on-tie-to-tether
The 'Brilliant Asshole' Who Almost Blew Up Coinbase - Ep.126
Bitcoin at the 3rd Halving: What We See From On-Chain Data - Ep.125
A Bitcoin Price of $115,000 Next Year? - Ep.124
Why 2020 Will Be the Year Bitcoin Becomes a Mature Asset - Ep.123
Haseeb Qureshi on the Unbelievable Story of the $25 Million Lendf.me Hack - Ep.122
12 Big Class-Action Lawsuits in Crypto: What, Who, How and Why - Ep.121
China's Crypto Industry and DCEP in the Time of Coronavirus - Ep.120
Coronavirus Relief and Its Impact on the Crypto Markets - Ep.119
What Happened on BitMEX During Black Thursday - Ep.118
Blockchain Tech's Storytelling Problem and How to Solve It - Ep.117
Coronavirus: How It Will Impact Bitcoin and the Halving - Ep.116
Steemit Chaos: Why Justin Sun and the Community Are at War - Ep.115
How Avanti Will Be a 'Not Your Keys, Not Your Coins' Bank - Ep.114
How 2 DeFi Attacks Made Almost $1 Million in Profit - Ep.113
SEC Commissioner Hester Peirce on Her Safe Harbor Proposal - Ep.112
Elizabeth Stark, CEO of Lightning Labs, on the Launch of Loop - Ep.111
Want a Job in Crypto? Exchanges Are Hiring - Ep.110
How DeFi Liquidators Make Money With Just Bots - Ep.109
PoolTogether: Save Money, With a Chance to Win - Ep.108
Why Bitcoin Outperformed Most of the Crypto Assets in 2019 - Ep.107
Create your
podcast in
minutes
It is Free
Pharmacy Podcast Network
Startitup podcasty
Børsen Morgenbriefing
Sarah Westall - Business Game Changers
The Economics Show with Soumaya Keynes