Nothing has been more amazing to me watching the results of my investigation in Bitfinex and Tether unravel before everyone's eyes and yet continue to be mostly ignored by so-called “OG” cryptocurrency community members.

I’m constantly seeing articles and data compiled by people much more intelligent than me, and they come to the same conclusions I have.

In order to come to my conclusions I used common sense and evaluated the character of the individuals running Bitfinex and Tether. It also didn’t help that they tried to cover stuff up from the start.

Academics actually looked at the data available on the blockchain, and the conclusion is the same. Printing money out of thin air, to buy Bitcoin and various cryptocurrencies.

This story has now been covered multiple times by The New York Times, Bloomberg, The Wall Street Journal, and various other outlets, and now there are now two reports (One, Two) where data has been shown that Tether is in fact printing billions of fake US Dollars, likely in chunks of 100 Million+ Tethers at a time, profiting from pumping and dumping, and then funneling the profits to their bank after the fact.

The trading charts of nearly every cryptocurrency that trades against Tether shows each one experiencing a massive pump and dump.

Tether refuses to complete audits. Now they’re claiming they can’t get an auditor after likely firing their last auditor for being ‘too thorough’.

This should have been the nail in the coffin and triggered exchanges delisting Tether, of course, Tether exchanges are likely accessories to the Tether scam, like Kraken which continues to trade Tether with preferential fee treatment, and a wash trader which has wash traded hundreds of millions of dollars of Tethers.

The same people that wanted to bring back and ‘audit’ MtGOX, also cannot perform audit on themselves.

SaveGox (Source)

This is eerily similar to the “audits” that Bitfinex has promised repeatedly and failed to complete audits:

2016: Promised security audit and a financial audit. Failed. Never actually hired auditor while employees on Reddit claimed that audit was in progress.

2017: Friedman Audit: Failed. Fired auditor.

2018: Finally comes clean and admits that Tether can’t audit cash in a bank account.

Remember: Tethers own whitepaper promised regular professional audits.

Remember: Tethers own website showed negative equity multiple times. (1, 2, 3)

The current claim is that they can’t get an auditor on board because of the risk to the auditors reputation in auditing Tether.

It’s one thing to make this claim.

It’s another ballgame when allegedly people send you another $250,000,000 USD to buy 250,000,000 more Tethers just days after you said you can’t complete an audit.

Legitimate Institutions don’t do this.

Your business is so toxic that auditors won’t touch you with a ten foot pole, but days later someone allegedly wires you another quarter billion dollars like nothing happened?

Now that’s what I call trust!