This is the transcript of the recent Tether hearing, which is a) riveting, b) a great way to improve your impression of the US legal system, and c) very bad news if you somehow thought this was going to work out well for Tether.https://twitter.com/CasPiancey/status/1181661282006470656 …
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Also Ctrl-F "Polonius" for a judge who is much, much better read than the lawyer talking to him. "Poloniex?"pic.twitter.com/TBZRWknhuh
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When you think the multi-entity shell game has made you immune to regulation and then get reminded what judges think of shell games.pic.twitter.com/f3MsEwfly1
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You know life is going to go well for you when a judge says, regarding undisclosed losses that a regulator might discover if given access to your books, quote ...let's just assume that there's another $100 million or something... endquote.
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Court tells money launderer that money launderer's ease of doing business is, hopefully unsurprisingly, not his sole desideratum.pic.twitter.com/uIRFS8VYEO
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First time I've ever seen the Internet's colloquial use of random in an official document, explaining that "If you generate an $800 million loss and blame it on embezzlement the enforcement action which follows will not be, you know, random."pic.twitter.com/kXj3CJw5x0
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(Tether/Bitfinex has, at times, argued to the court that they believe Crypto Capital Corp, the money launderer they were using for a portion of their money laundering needs, is being less-than-totally-forthright when it says the $800 million was frozen by official action.)
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End of conversation
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It was genuinely a fun read. AG and Judge pretty funny, not to mention Miller making some compelling points, too. Kinda like an Overton Window feel.
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Glaciers might move slowly, but when they do, they crush everything in their path
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