Bitfinex just been subpoenaed by US regulators over tether

[penig]

Seems about right imo.  And the poster Marius question is pertinent "what happens when you take $2.2bn buy support out of the crypto economy".  That's only 1-1.5% of bitcoin capitalisation, or 0.4% total capitalisation ($522bn) today.  And its not buy support, people sell bitcoin and other pairs to the convenience of USDT.

It's not like 'dollars' elsewhere. It's brand new money entering and buying. A lot of real dollars in daily volume will have been floating back and forth for years on end.

Tether is turbocharged buying power.

So no one buys Tethers? No one buys other coins?  The exchanges tell a different story.

[auctioneeeeer]

So finally the FUD succeeded well played @bloomberg. Well, thanks to those who tried to spread awareness to as many as possible. Just found this article, good job guys.
https://coingape.com/cryptocurrency-prices-fall-amid-bloombergs-update-about-tether/

[Vitolife]

So finally the FUD succeeded well played @bloomberg. Well, thanks to those who tried to spread awareness to as many as possible. Just found this article, good job guys.
https://coingape.com/cryptocurrency-prices-fall-amid-bloombergs-update-about-tether/

Yes, banksters will not stop FUDding, this is 2 months old news, they just removed the date in effort to bring the market down.

[Wheelige]

Is it not note worthy that the push to 20K happened pretty quick after the subpoenas and it has dropped off since. Getting as much $ as they can before cutting it out or proof that this is FUD and that the surge had nothing to do with it. Would be a pretty ballsey to make a big play like that immediately after being put on notice that your on the radar.

[markj113]

So finally the FUD succeeded well played @bloomberg. Well, thanks to those who tried to spread awareness to as many as possible. Just found this article, good job guys.
https://coingape.com/cryptocurrency-prices-fall-amid-bloombergs-update-about-tether/

That article is not well written at all with no counter argument other than

"Please do not panic and just because you’re reading from an enough old and reputed media channel does not mean it is true."

Their line does not even make sense.

I think most people are in agreement that something is not sitting right with tether we just have to sit back and see how it plays out.

[motoprose]

So this could be the reason why the price just dumped over $1000 in the last 15-17 hours that I have been watching it.
Was wondering why it all the sudden it dropped in price.
They do hold alot of bitcoin for an exchange.
I think only behind coinbase/gdax in the states.

[Black_bl]

https://mobile.twitter.com/satoshilite/status/958427996209074176

Charlie Lee's take on the situation.

But this seems rather naive to me - https://mobile.twitter.com/SatoshiLite/status/958428292293390336

Seems about right imo.  The poster Marius question is pertinent "what happens when you take $2.2bn buy support out of the crypto economy".  That's only 1-1.5% of bitcoin capitalisation, or 0.4% total capitalisation ($522bn) today.  Also its not buy support, people sell bitcoin and other pairs to the convenience of USDT.  So how much impact should it really have, other than effect on confidence?

Not sure man, market capitalisation is just a fake number, there are a lot of project worth $10-15millions and their value is zero (abandoned projects) as well as all cryptocurrencies are bubble, think about pump scenario. If Ripple was over $100B how many net worth you needed at the start when its price was a few billions? coins were under control devs and whales so there weren't opposite side who can sell and the way to reach $120B was cost just a few billions until they decided to cash out their profits newcomers.

[herbiehasher]

From searching with google, all I have found is basically the same article.
Can anyone point me to the text of the subpoena?
Just what was Subpoenaed? Was it who?  And when, when is what/who to appear?
Can't find the what/who/when.