Tether: The $100,000,000,000 Problem in Crypto - Episode 144

Published 2024-02-08
Cas Piancey and @bennettftomlin discuss the history and present of Tether, the most important firm in all of cryptocurrency.

This video was recorded on February 4th, 2024.

Read more: cryptocriticscorner.com/2024/02/07/episode-144-tet… in a new tab)

Additional episodes mentioned in this episode:
Playlist of video about Bitfinex and Tether
   • Tether and Bitfinex  
Episode 1 – Tether: A Stable Discussion
   • Tether: A Stable Discussion (Audio On...  
Episode 2 – Tether: A Stable Discussion Continued
   • Tether: A Stable Discussion Part II (...  
Episode 83 – Contagion and Cascading Liquidations in Cryptocurrency
   • Contagions and Cascading Liquidations...  
Episode 6 – Crypto Capital Corp: the quiet billion dollar cryptocurrency scam
   • Crypto Capital Corp: the quiet billio...  
Episode 110 – Tether Falsified Bank Records (reportedly)
   • Tether Reportedly Falsified Bank Reco...  
Episode 127 – Let’s talk about Number Go Up with Zeke Faux
   • Let's talk about Number Go Up with Ze...  
Playlist of videos about FTX, Alameda Research, and Sam Bankman-Fried
   • FTX, Alameda Research, and Sam Bankma...  
Episode 34 – The Tether Papers (featuring David Canellis of Protos Media)
   • The Tether Papers (featuring David Ca...  
Video about Genesis Block and Alameda Research
   • How Sam Bankman-Fried moved his money  
Episode 35 – Stablecoins will Fork your Chain if they Want to Fork
   • Stablecoins will Fork your Chain if t...  
Episode 70 – The Rise and Fall of Reggie Fowler
   • The Rise and Fall of Reggie Fowler - ...  

Additional resources:
Coverage of Tether Q4 Attestation
protos.com/tethers-growth-and-profits-continue-to-…
Coverage of Tether Luganodes investment
protos.com/luganodes-tethers-tron-validator-earnin…
Bennett's newsletter about Bitfinex audits
us2.campaign-archive.com/?u=16a900a42513fb7998acad…
Coverage of leaked Ledger Labs report
protos.com/giancarlo-keys-managed-poorly-says-post…
Nathaniel Popper Tweet
twitter.com/nathanielpopper/status/933130228175552…
Coverage of Tether onboarding FBI and Secret Service
protos.com/tether-gives-fbi-peek-behind-the-curtai…
Wall Street Journal report on Harborne activity
www.wsj.com/articles/crypto-companies-behind-tethe…
The Tether Papers
protos.com/tether-papers-crypto-stablecoin-usdt-in…
Coverage of Genesis Block
protos.com/hiveex-genesis-block-and-sbfs-trading-d…

Other places to find Crypto Critics' Corner
Website: cryptocriticscorner.com/
Discord: discord.gg/mFGxZMJCVf
Bluesky: bsky.app/profile/cryptocriticscorner.com
Mastodon: mstdn.social/@CryptoCriticPod
Twitter: twitter.com/CryptoCriticPod
Instagram: instagram.com/cryptocriticpod
TikTok: vm.tiktok.com/TTPdPN2hK9/
Bennett's YouTube: @bennettftomlin
Bennett's D&D YouTube: @BTDND
Bennett's BlueSky: bsky.app/profile/bft.wtf
Cas' BlueSky: bsky.app/profile/caspiancey.bsky.social
Bennett's Mastodon: mstdn.social/@bennetttomlin
Bennett's Twitter: twitter.com/BennettTomlin
Cas' Twitter: twitter.com/CasPiancey
Bennett's Newsletter: TheFUDLetter.com/
Cas' Blog: thecaspiancey.medium.com/
Bennett's Blog: bennettftomlin.com/

Timestamps:

#crypto #cryptocurrency #podcasts #listenable #tether #bitfinex #usdt #leo

All Comments (21)
  • @bennettftomlin
    I said “deferred settlement” when I meant “deferred prosecution” way too often in this episode
  • @edd0055
    I was literally just wondering if crypto critic's corner would ever be back, "maybe there are no more scams to be covered in crypto?"
  • @jnnx
    CasCoin is back!
  • @sansmuch
    You! You're back! So happy to see you guys.
  • @Labbfreak
    Happy to see y’all back & excited to see this topic. I’ve been thinking about Tethers standing and what’s next since reading Zeke’s book (and listening back to your old episodes about the 2018 issues)
  • @SamRocher
    Great discussion and good points. It's really annoying to see amoral companies thriving while the world is on fire while governments bend over backwards for them because they've already obtained so much money. Imagine if a mom and pop shop took those same actions XD
  • Tether is so great at finance, they can't tell the difference between Net Assets on their Balance Sheet from Net Income from their Income Statement.
  • Curse my paper hands… I thought you’d rugpulled and so I sold all my cascoin.
  • @Mystician
    You guys continue to assume that Tether has the money they claim, despite there never being conclusive evidence of this. They've never submitted to a formal audit. Why would you assume they're telling the truth when they've been caught lying over and over? Your reasoning makes no sense. How can you admit Tether has serious problems and then say you believe they're "fully backed?" How does that add up? Are you using the same firm for your reasoning that Tether has hired for their accounting?
  • as a holder of cascoin its very pleasing to hear about tether being introduced, cant wait for the crazy DeFi ventures that will come out of this. Hopefully some kind of credit lending platform so i can take credit in cascoin but have tether as a collateral. truly blessed ecosystem ;))) ... but on a more serious note ... great that you two are back !!
  • @glebski1531
    Great to have you back ! Surreal to hear about the recent direction/pivot of Tether. Can you do an pod on the recent case involving extradition of 2 crypto dudes from Estonia to the US?
  • @bennwalton
    you guys are fuckin awesome thank you for continuing to publish content
  • @Roger_Smith
    As chaotic as it would be i kind of want to see the fallout of tether getting raided and having its assets seized
  • @Jw-hv2pz
    Welcome back guys, you were missed! After reading Zeke Faux's book I gained a newfound appreciation for your extensive coverage of Tether. Zeke gave real world examples of how useful Tether is for criminals in their efforts to turn dirty money into clean money. For that reason, Tether has been the biggest boon to criminality since the invention of the handgun. Therefore, it ain't going nowhere.
  • @saaniyahlaet
    I have been waiting for y'all's next podcast with bated breath and super excited that it's about Tether!
  • @Frazec_Atsjenkov
    Great to see you guys are back at it. When something fails to happen that does not prove that there was no risk of it. You guys always manage to make a sound argument. That is what I value. Cheers