Tether Cryptocurrency Becoming ‘Preferred Choice’ Among Money Launderers

[zasad@]

@zasad@. I disagree.  SBF had a settlement with the American government and paid $4 billion and yet he cannot get out of the country because he is a flight risk? If he had proper connections he would remain to be the CEO of Binance. Also, dumping of FTT might be CZ's tactic to kill FTX. If he did not do this, FTX would continue becoming bigger and Sam with his political connections would become more powerful.

If you also want to witness political connections in use, observe Sam Bankman Fried's case. It is being rumored that he will get out of prison within 5 or 6 months.

I don’t believe the rumors and there are a lot of victims in the SBF case, so even if he is released from prison under house arrest, he will still spend many years in the courts.
CZ is as cunning as SBF and he realized what SBF and his team were doing and decided to kill two birds with one stone.

Why did yu change the quote from CZ to SBF? I said it was CZ who paid the American government $4 billion to settle his case, however, after settlement it does not appear to be settled hehehe. CZ's passport was confiscated and he has a sentencing to attend. This is a person who clearly does not have any political connections under the American jurisdiction.

In any case, I agree that CZ needed to dump FTT to kill FTX. If he did not do this, Sam would become more powerful and he would have certainly killed Binance using his exchange as competition and his political connections. According to the latest articles it appears that the FTX estate can pay all of the creditors in full which implies that FTX's problems were only liquidity and cashflow problems.

I corrected the quote, it was probably a copying error.
You say that CZ went to the USA without political connections, but why do you think he did it? Is he really relying on luck?
It’s not just American politicians who are manage peace, and before CZ’s trip to the USA, I heard that Chinese politicians had solved this problem with their American partners. (conspiracy theory)
The verdict will be handed down on April 30, and I think that the decision will be lenient.

I also heard that FTX can pay off debts, but there is a big question at what asset prices this debt will be repaid, and the case with FTX will not be closed in 1 year

[1714313107]

1714313107

[1714313107]

1714313107

[1714313107]

1714313107

[bbc.reporter]

@zasad@. Did what? Dump FTT on everyone's heads with mouths open to kill FTX? This is a survival tactic. CZ needed to kill FTX before it can kill Binance because Sam was beginning to use his political connections and he was also talking to regulators already.

Pay the US treasury department $4 billion?  This is a very expensive settlement with uncertain conditions. If CZ had political connections in America this would only be a slap on the wrist.

[zasad@]

@zasad@. Did what? Dump FTT on everyone's heads with mouths open to kill FTX? This is a survival tactic. CZ needed to kill FTX before it can kill Binance because Sam was beginning to use his political connections and he was also talking to regulators already.

Pay the US treasury department $4 billion?  This is a very expensive settlement with uncertain conditions. If CZ had political connections in America this would only be a slap on the wrist.

My conspiracy theory is that CZ helped create the FTX exchange in the US. It was thanks to CZ's experience and his help that this exchange very quickly became famous in the USA.
In the United States, there is a big struggle among the political establishment before the new presidential elections, so no one needs unnecessary scandals.

[bbc.reporter]

@zasad@. If CZ helped or did not help Sam Bankman Fried create FTX, this does not change the argument that CZ does not have political connections in America.

On FTX, CZ was an early investor in the exchange, however, on 2021 Sam bought back the shares and this ended their relationship. This was also when Binance was being asked many questions from different regulators around the world including the SEC.



Binance, the world’s largest crypto exchange by volume, was an early investor in crypto exchange FTX, which 29-year-old Sam Bankman-Fried founded in 2019. This week, the investment relationship suddenly ended. In an extensive interview with Decrypt, Bankman-Fried discussed why.

“We recently repurchased shares from Binance to buy them out of our cap table,” Bankman-Fried said. “I think it just makes sense given the role that our businesses are playing in the space. It can also give us more flexibility going forward.”

On Tuesday, FTX announced a $900 million raise from 60 high-profile investors including Sequoia, Paradigm, Softbank, Paul Tudor Jones, and NFL quarterback Tom Brady and supermodel Gisele Bündchen. It was the largest ever funding round for a crypto exchange, valuing FTX at a cool $18 billion.

Source https://decrypt.co/76584/ftx-ceo-sam-bankman-fried-why-bought-out-binance-investment-shares-exit



I predicted FTX to be the Binance killer, however, it appears that CZ killed FTX hehehehe.

[zasad@]

bbc.peпopтep, my theory on this issue is conspiracy theoretic. Sam Bankman-Fried had political connections in the USA, CZ is the main partner who helped develop the project, most likely in contact with politicians from the USA.
The official reason is clear to everyone, but the real reason in my opinion was that CZ realized that Sam Bankman-Fried was playing an even more dangerous game than Binance.

[zasad@]

The old story continues..
https://www.bloomberg.com/news/articles/2024-03-27/tether-usdt-is-most-used-stablecoin-in-illicit-crypto-flows-trm-says
"Tether Is the Most Used Stablecoin in Illicit Crypto Flows, TRM Says
About 1.6% of Tether volume linked to illicit activity in 2023
Sanctions cut the value of criminal transactions using Tether"

https://www.msn.com/en-us/money/markets/tether-and-tron-continue-to-dominate-criminal-financing-as-overall-illicit-funding-decreases-according-to-new-trm-labs-report/ar-BB1kDcub
"Tether and Tron continue to dominate criminal financing as overall illicit funding decreases, according to new TRM Labs Report"