The Crypto Time-Bomb is Finally About to Explode

(and not in a good way)

By now, it’s more or less an open secret that the good folks at Tether Limited are crooks who have fraudulently pumped the cryptocurrency market in order to enrich themselves and their co-conspirators. If this comes as a surprise to you, or if you’ve heard nothing about it, or if you vehemently disagree, I’m not going to beat a dead horse by explaining it all over again from the beginning, but I would advise you to first read the two articles I’ve already published on the subject (here and here) and/or take a gander at Bitfinex’ed who has been exposing the Tether fraud longer than anyone.

While virtually everyone knows Tether is a fraud, crypto enthusiasts are known to do some serious mental backflips in order to imagine that their investments are safe and sound. A classic crypto fallacy is that history repeats itself precisely; what happened in 2017 is a perfect model to predict what will happen in 2021, and Tether never imploding before means it will never-ever implode in the future. I asked the famed Hieroglyphics rapper “Casual” (whose IG account is full of screenshots of his crypto portfolio) if he was concerned by the Tether situation, and he said, “Nah, people have been talking about that as long as I’ve been in crypto.” His stance is not unique. People have been saying Tether is a fraud…