First of all I would like to start with saying that people really need to research more. This sub is so different compared to when I started in ’17. Back in 2017 people were very helpful and actually listened to what others had to say. Right now you are getting attacked or called ‘ FUDster ‘ when you are just trying to explain something to people. Don’t even get me started on the crypto tribalism where if you say ‘ I like coin x ‘ you are a shill and you get attacked by all the other tribes.
Its a pity because I found this sub to be very helpful when I started myself.
Anyways, what is this thread about?
So remember when Binance ( CZ tweet ) was saying that it was moving its funds to another address with ONE LARGE transaction? Well it turns out that did not happen! The original address has been drained with about 10 transactions to the new address. But hold on, the new address only has 42M Tether at the time of writing this and the original one had over 780M! So where did the rest go?? The answer: Different addresses, thousands of them.
This video explains all of it perfectly and has all the evidence you need ( skip to 1:00 if you dont want to hear the troll song intro ). Please watch the video before calling me a FUDster or shill or whatever. You guys have no idea what is going on behind the scene and the person in the video has done some solid research. There is no point in repeating everything he says in text form.
I find it quite suspicious that this is all happening in the same period as when Ifinex is having difficult times. The parent company of Bitfinex called Ifinex owns both Tether and Bitfinex. For the people who didnt know Tether is getting sued by the New York State Attorney General for covering up a loss of $850M.
All of this leads to uncertainty and no wonder that over 30k BTC has been withdrawn from Bitfinex the past couple of days as you can see from the photo below. People are getting their funds off the exchange and are putting it in cold storage/sending it to other exchanges.
‘ Thats just a coincidence dude what are you talking about stop fudding dude. ‘
Well explain why not only BTC is getting withdrawn but Ethereum as well, and LOOK at how much is being withdrawn. Thats over 40% withdrawn in the last week on Ethereum. The BTC price pump, Binance Tether transactions and the NYSAG investigation of fraud is all happening at the same time and no one is batting an eye.
Like I said everything is explained perfectly in THIS video. The youtuber called Chico Crypto has done tremendous and solid research on these topics. It would be a real pity if this thread would get flooded with the same old ‘FUD allegations’ instead of constructive criticism. I’m all for good research and discussions but the evidence shows that there is some serious stuff going on behind the scenes.