Hours after Tether printed $1 billion in new USDT yesterday, Coindesk reported that FTX is seeking to raise a total of $1.5 billion in new venture capital funding in a round that will value the international (ExpressVPN) division of FTX at $32 billion while simultaneously valuing the less popular KYC/AML compliant U.S. division of FTX at $8 billion for a total combined valuation of $40 billion. If we do a worldwide Google Trends search for 'FTX Crypto' and compare its Google search volume to 'Voyager Crypto', Voyager over the last twelve months has received more Crypto related searches than FTX, with FTX search volume only spiking higher after they "won the naming rights" to the Miami Heat arena. NIA's President knows hundreds of people who trade Crypto on Voyager, but less than a handful of people who use FTX. The USD market cap of Voyager Digital is $2.126 billion, so there is no possible way FTX is really worth $40 billion, unless FTX is just a front for the #1 largest Crypto market maker (wash trader) Alameda Research.
Last month, Coindesk reported that Sam Bankman-Fried is allocating 98% of his time to FTX and only 2% to Alameda Research, in a desperate attempt to distract from the tens of billions in newly printed USDT that Alameda supposedly "bought" over the past year at a time when Alameda didn't have any access to the traditional banking system. We have a feeling that sometime in the next week or so we will see Tether print another $500 million or more in USDT and transfer approximately (but not exactly) $1.5 billion USDT to FTX. There's no law that says a private company like FTX/Alameda isn't allowed to receive venture capital investments in USDT, but we hope to see CNBC, Forbes, and other sellouts in the mainstream media accurately report FTX's post-transaction valuation as being $40 billion USDT not $40 billion USD. Considering that USDT itself is likely backed by a combination of Bitcoin, Altcoins, Alameda Research commercial paper, FTX shares, and other forms of illiquid securities/derivatives in privately held Crypto companies including the Celsius high-yield ponzi scheme (there's no evidence to suggest that Tether owns commercial paper in China’s Evergrande Group), Forbes should remove Sam Bankman-Fried from its list of the world's wealthiest entrepreneurs, but we're sure they will be cheerleading as his net worth increases as a result of Tether printing more USDT.
Two days ago, Celsius admitted that its "Badger platform" was hacked with an unknown amount of Crypto stolen. Considering that all Celsius account holders are unsecured creditors of Celsius and there are no segregated accounts, client assets are comingled with corporate assets. Investors who deposit Crypto onto Celsius are giving away their assets to a madman who recklessly speculates on Bitfinex by investing into newly created altcoins. There is no such thing as a magical Defi Trading Bot that creates risk free yield for investors. Desperate to stop withdrawals from their ponzi scheme, Celsius this morning has jacked up the yields they offer on Bitcoin. If you know anybody who has invested with Celsius, you should tell them to remove their money immediately before it is too late!
Preparing Americans for Hyperinflation
