Quote (Melatonina @ Jun 19 2022 01:02pm)
Oh man. I bet you were all over Reddit defending Celsius on the basis that nobody has had trouble receiving withdrawals yet.
The fact is that nobody in western markets has heard of Tether. And that's significant because if they have as much commercial paper as they claim to have, they should be one of the top players in the entire world. That means they either 1) Don't have commercial paper at all, or 2) Are trading on a dark market outside of the Western sphere.
There's very few places that could be, and none of them are particularly credit worthy. So either the backing based on commercial paper doesn't exist, or it's in a market where it might as well not exist because they probably aren't getting it back.
Oh, and please also ignore that they were caught faking attestations before, specifically to hide their connections with Bitfinex. and that they have never been audited because the auditors wanted "too much detail".
This post was edited by NetflixAdaptationWidow on Jun 19 2022 02:22pm