Every single cryptocurrency fraud will tell you that everything is fine, right up until the last second.
They will do everything that can to cover up the fraud, they will lie, cheat, and use any tools available. They will rip off their customers, traders, etc.
They will do everything that can to cover up the fraud, they will lie, cheat, and use any tools available. They will rip off their customers, traders, etc.
Bitfinex ripped off their customers in 2018 when they ran out of money, they took their customers Bitcoins in October 2018 when they had no money for withdrawals.
Under no circumstances will any crypto platform ever come clean, until they're forced by some external event, and in crypto, most of the exchanges are coordinated with each other, because one exchange blowing up hurts the other exchanges.
They usually help each other out.
They usually help each other out.
On FTX, absent the comments from @cz_binance, the article from Coindesk would have done nothing, just like when Tether itself admitted that they only had 74 cents on the dollar, people still allegedly bought tethers for a dollar.
The so-called crypto-market, is completely fake.
The so-called crypto-market, is completely fake.
There is probably more to the story of why FTX/SBF was thrown under the bus, likely because SBF was a pawn and trying to become a king, and the other players in the game decided that it was worth the risk to throw him under the bus. The truth is, they don't want the drama.
Alameda's pitch deck was obviously a ponzi scam, exchanges and traders have sat on these documents for years. They knew SBF/Alameda was a fraud all along, but they kept their mouths shut.
Most exchanges know Tether is a fraud, especially Coinbase because it's very clear that the listing of Tether on coinbase was forced, they only listed Tether after the stock was listed. Coinbase trades on Bitfinex.
It's safe to suspect that Bitfinex has dirt on Coinbase.
It's safe to suspect that Bitfinex has dirt on Coinbase.
In fact, most exchanges likely have dirt on other exchanges, it's one way to keep everybody in line. You attack us? We'll leak information on you, like how your employees wash traded a shitcoin on our exchange and insider pumped and dumped it, among other illegal behavior.
Or... everyone justs gets along to make money for everyone, like what they're all talking about in this audio recording.
"What happens if we go down? Nobody makes any money on the internet"
"If we go up, everyone has business"
"What happens if we go down? Nobody makes any money on the internet"
"If we go up, everyone has business"
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