We saw a segment on CNBC today of Howard Lutnick Chairman & CEO of Cantor Fitzgerald, L.P. claiming he holds Tether's U.S. Treasuries backing the stablecoin USDT. Every loser Crypto Bro is claiming on X this evening that Cantor Fitzgerald, L.P. holds $90 billion in reserves for Tether and USDT "must be legit".
First of all, this isn't new news, there were several media reports about Cantor Fitzgerald, L.P. holding Tether reserves back on February 10, 2023, which was one day after Bitcoin declined by $1,159 to $21,802.
Watching the segment live on CNBC today, our immediate gut reaction was, "this is staged" to trick Crypto Bros into believing that Tether is actually backed by real reserves. Conveniently, Howard Lutnick was on CNBC saying this today one day after Bitcoin declined by $2,544 to $41,242.
Howard Lutnick is famous for surviving 9/11 when almost all of his employees at Cantor Fitzgerald, L.P. were killed because he "took his kid to the first day of kindergarten" that day.
Ever since 9/11 he has been living a life of screwing people over but benefiting from the sympathy of losing 657 of his friends/colleagues on 9/11. For an example of how evil Howard Lutnick is, watch this video by clicking here.
After screwing over so many entrepreneurs for so long, Cantor Fitzgerald, L.P. has seen its assets rapidly decline in recent years. They may have been desperate enough to accept some business from Tether. However, if you click here you can see monthly statements of their financial condition.
Their total assets as of August 31, 2023 are $13,374,535,409.
One year earlier on August 31, 2022 their total assets were $15,874,393,787.
One year earlier on August 31, 2021 their total assets were $19,757,076,192.
There is no way they hold $90 billion in reserves for Tether! It is all a lie!
When Tether collapses, all Crypto becomes worthless.
Preparing Americans for Hyperinflation
