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RegalChicken

It's Happening? The Zerpening!

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34 minutes ago, Ripple-Stiltskin said:

To be sure I sold a few....buying back tomorrow if things are proven to mean nothing

Sold a few what? Tether?

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9 minutes ago, Atomic1221 said:

Yes but withdrawing the crypto shouldn't be too hard unless there's a coordinated exchange shut-down. In which case, it'll be the least of our problems

Also anyone even have a source to this "dissolution"? Is it even verified?

Coindesk.com says Tether spokesperson confirms the dissolution.

The exchanges are entirely dependent on USDT pairs, without them or confidence in Tether = the exchange could go Pooof...

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Just now, RubenParren said:

Coindesk.com says Tether spokesperson confirms the dissolution.

The exchanges are entirely dependent on USDT pairs, without them or confidence in Tether = the exchange could go Pooof...

Tether is claiming that they didn't like the speed of the audit process: 

Below is the email referred to by Coindesk (According to CoinDesk):

Quote

"We confirm that the relationship with Friedman is dissolved.  Given the excruciatingly detailed procedures Friedman was undertaking for the relatively simple balance sheet of Tether, it became clear that an audit would be unattainable in a reasonable time frame. As Tether is the first company in the space to undergo this process and pursue this level of transparency, there is no precedent set to guide the process nor any benchmark against which to measure its success."

 

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1 minute ago, FixnUrPowerline said:

Sold a few what? Tether?

No, of my portfolio inclusive XRP. Not all, but if this turns out to be nothing newsworthy I’ll buy back tomorrow. Just to be sure. I don’t expect a run up, so maybe it costs me a few cents, but just to be sure.

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I never really understood Tether and don't care to but it has always seemed sketchy. Just never saw the point of it if I can just buy BTC with whatever currency and then trade it for whatever alt I want. I think it is a disaster waiting to happen. 

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Just now, RubenParren said:

Coindesk.com says Tether spokesperson confirms the dissolution.

The exchanges are entirely dependent on USDT pairs, without them or confidence in Tether = the exchange could go Pooof...

No @RubenParren not all will. Not the ones not using USDT. :d_sunny:

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1 minute ago, Atomic1221 said:

Tether is claiming that they didn't like the speed of the audit process: 

Below is the email referred to by Coindesk (According to CoinDesk):

 

Seriously, an audit takes time. It's not only a check to see if the money you say is available in the account is truly there, but to make sure the money is there by the means you say it is there by. That means they have to go back and sample transactions, etc., to ensure that the dollars in the account match up with dollars that came into the account through purchases.

I had a company I was preparing for a private placement. We were very young and had a very simple income statement and balance sheet. Yet, the audit took three weeks....they need to ensure their time frame is realistic for the money they say they are holding...

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