BREAKING NEWS! Tether SUBPEONA'd + Bitfinex SUPEONA'd.. US Financial regulator CFTC over this game. Brought to you by Daily Crypto Digest

BREAKING NEWS

Bitfinex & Tether subpeona served by US CFTC

The largest volume exchange by trading volume was issued a subpeona in regards to it's murky relationship with Tether. “The U.S. Commodity Futures Trading ‎Commission sent subpoenas last week to virtual-currency venue ‎Bitfinex and Tether.”‎
Tethers record showed a balance of $443Mln Sept. 15, however, they didn't identify where the money was exactly held. The reports from the Auditor said, there was not any testing on reliability of this accounting.
Earlier in November, over $30Mln tether was stolen in USDT.
And Wells Fargo stopped working with the company.





This is finally attracting the financial regulators, after printing over $850Mln in USDT in the month of January alone.
I would not recommend holding anything in Tether.
This could be a kick in the shins for crypto when the dust settles. Alot of trust was put into tether, for no real good reason. By almost every major exchange. And I hope this changes- before everything is uncovered.
I have 0 faith that this is a squeeky clean operation with the crypto sphere in mind.
None.
Please do your research, please understand Tether is worse than fiat, which, is hard to be less than 0. But, it sadly is unless they can actually prove they have the accounts in order, without any flaws. However, that is very, very unlikely.

Watch tether be printed OUT OF THIN AIR! Here-
https://twitter.com/tetherprinter?lang=en
Also, as icing on the cake.. In Tethers ToS they do not HAVE to back the coin, by anything..
Straight out of THEIR ToS

There is no contractual right or other right or legal claim against us to redeem or exchange your Tethers for money. We do not guarantee any right of redemption or exchange of Tethers by us for money. There is no guarantee against losses when you buy, trade, sell, or redeem Tethers.

Yeah, that's how we're feeling too- if you're not, let me elaborate how huge this is.

1. The majority of the market sentiment for cryptocurrency is based upon trust, trust in a technology and the systems we built. If there was 0 trust in BTC, or any crypto the price too, would be 0.
2. This could have been used as a way to buy Bitfinex out of a bankruptcy.
3. This could be the life support keeping BTC's price at a number that does not reflect market sentiment.
4. This could collapse the trust for every exchange that used tether
5. This would be way bigger than Mt. Gox. Because it involves every exchange that accepts tether, a scam, a pump of all markets, and at a time where regulators are hot on the button.

Sources:
https://www.reuters.com/article/us-usa-cftc-subpoena/u-s-regulator-subpoenas-cryptocurrency-platforms-bitfinex-and-tether-source-idUSKBN1FJ2ZK

https://www.bloomberg.com/news/articles/2018-01-30/crypto-exchange-bitfinex-tether-said-to-get-subpoenaed-by-cftc

https://thenextweb.com/hardfork/2018/01/30/bitcoin-bleeds-over-news-of-us-government-subpoena/

Stay Vigilante.

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