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my TLDR of the NY report against BFX/USDT -- sounds to me the bigger target/issue is CryptoCapital in terms of legit fraud/money laundering. BFX is getting all the attention and they weren't the most truthful or transparent in the matter but they actually have the USD it appears

Jesse Powell

@jespow

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@BTCVIX

Unfortunately, fiat banking is a black box. We don't know if there's a problem at CC or at the bank. No doubt BFX still carries the USD on the balance sheet but if it's frozen/seized, who knows how many years it could take to become recoverable. Gox still going 5+ years.

11:42 PM · Apr 25, 2019Twitter Web App

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that is a good point

Replying to

and

Why is Bitfinex sending $850m to Crypto Capital Corp. in the first place? And what kind of funds are we talking about, dollars? Why send it to a "payment processor"?

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would it be wrong to think that even if this investigation would "clear" BFX/Tether that the funds they have locked up at CC could still be seized by the Feds as tainted funds used in money laundering etc.

BTCVIX

@BTCVIX

Apr 25, 2019

And that is even assuming they find/locate/get custody of those funds. What is the process of them even deciding they want to give that back rather than just saying it is seized drug money basically ?

Kyle S. Gibson a Web3 Lifestyle Brand

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and

We know you and Bitfinex are full of shit