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paoloardoino's profile
Paolo Ardoino
Paolo Ardoino
Paolo Ardoino
Verified account
@paoloardoino

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Paolo ArdoinoVerified account

@paoloardoino

CTO @bitfinex + CTO @tether_to [Views are my own]

London
github.com/prdn
Joined January 2010

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    Paolo Ardoino‏Verified account @paoloardoino Jan 6

    Paolo Ardoino Retweeted Dovey “Rug The Fiat” Wan 🪐 🦖

    (Repost to clarify due to some comment idiocy) This is not correct on multiple levels: - BFX does not own Tether - BFX peer-to-peer lending books has run out of USD (not USDt) due to big users re-balancing their longs against USD, causing around 700M in lending to be refreshed.https://twitter.com/DoveyWan/status/1346818690289868803 …

    Paolo Ardoino added,

    Dovey “Rug The Fiat” Wan 🪐 🦖 @DoveyWan
    BFX owns Tether and running out of $USDT But the biggest onramp now is spot like Coinbase, which has been on insane premium so we might see something weird happens this time i.e We all get rich together thanks to ppl with super low cost of real dollar's TWAP
    Show this thread
    6:15 AM - 6 Jan 2021
    • 5 Retweets
    • 46 Likes
    • Samson Mow Peter Andersson Hope Freiheit 🥃 bn 𝘽𝙪𝙮 𝘽𝙞𝙩𝙘𝙤𝙞𝙣 𝙞𝙣 𝙇𝙚𝙗𝙖𝙣𝙤𝙣🇱🇧🔶 taiwandan Mark @Bitfinex Mouseion Henry Child
    7 replies 5 retweets 46 likes
      1. Paolo Ardoino‏Verified account @paoloardoino Jan 6

        (Today my english is worse than usual) Notes: - P2P lending books are run by users as normal trading books, based on demand and offer - P2P lending books are not a representation of BFX own USD balance sheet, but BFX users lending the USD they have in their accounts

        1 reply 1 retweet 18 likes
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      2. Dovey “Rug The Fiat” Wan 🪐 🦖‏ @DoveyWan Jan 6
        Replying to @paoloardoino

        "owns" not for the contractual term but for effectively how close the two entities are

        2 replies 0 retweets 2 likes
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      1. h3.‏ @h3_extrachars Jan 6
        Replying to @paoloardoino

        & the lending books are entirely back to normal now

        0 replies 0 retweets 0 likes
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      1. Luca Land‏ @LucaLand97 Jan 6
        Replying to @paoloardoino

        No wonder didn't run out of USDTpic.twitter.com/0vLqhx9EHL

        0 replies 0 retweets 0 likes
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      2. cryptomind‏ @CryptoTelecast Jan 6
        Replying to @paoloardoino

        Do some still think that Bitfinex owns Tether? 😂

        1 reply 0 retweets 0 likes
      3. This Tweet is unavailable.
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      1. CRYPTOTIPSFRIENDS‏ @cryptotipsfr Jan 7
        Replying to @paoloardoino

        Arrête de te justifier et post un putain d'audit, merci

        0 replies 0 retweets 0 likes
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