Tether admits insolvency in court filing: https://www.coindesk.com/tether-lawyer-confirms-stablecoin-74-percent-backed-by-cash-and-equivalents … I think the $64 million question now is where the next shoe is to drop, because it's overwhelmingly likely that they've been de facto supplying credit to the ecosystem.
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Somebody is levered long on Bitcoin who doesn't think they are, and I think that's an arresting thought even for most Bitcoin fans.
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Replying to @patio11
Someone within the crypto world, or a mainstream financial org?
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Replying to @hyperpape
Depends on whether you credit @prestonjbyrne on there being mainstream commercial banks doing material short-term lending to the Bitcoin economy, which I've not seen support of but which doesn't strike me as utterly implausible.
In crypto? Left right and center.
9:53 AM - 30 Apr 2019
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