$BTC is not gonna be just fine.
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5/* Would a billionaire risk it all to keep the game going? What are they even playing for at that point? Phil Potter and Rafael both left. They had their golden parachute. Why is Devasini still playing?
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4/* How are they making money? Obvious ways include arbitrage on Tether, returns on custody. They have island money from that alone. If they also operated a fractional reserve with themselves (even just for margin lending) then they'd be billionaires.
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3/* If they were insolvent and became solvent, they would wrap things up neatly and live to scam another day. But what it looks like is that they are solvent and they're making tons of money, which is why they aren't walking away from the game.
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2/2 Bitfinex/Tether is not run by idiots. If they weren't fully backed they would know a blowup/bank run would be inevitable. Are you trying to tell me they were not solvent at any point in the last 2.5 years long enough to get away with any chicanery they pulled?
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1/2 You literally replied to an institutional investor that mentioned holding Tether: https://twitter.com/Bitfinexed/status/1053119468572999681 … Why does the investor need to hold Tether? Therein lies the explanation for $2.5B Tether issuance.
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