Re: Next Ponzi going down
The next biggie could be this-
https://en.wikipedia.org/wiki/Tether_(cryptocurrency)
Tether is described as a stablecoin because it was originally designed to be valued at USD $1.00. Tether Limited has stated that it maintains USD $1 of asset reserves for each USD₮ 1 issued, but has been fined by regulators for failing to do this and has failed to present audits showing sufficient asset reserves.
If regulators discover it doesn't actually have sufficient asset reserves, or liquidity in fiat equivalents. That's assuming regulators actually dare look. Which if they want to 'correct' or just pop the crypto-bubble, they probably should. Then there is the law of contagion, or P.T.Barnum's economic theory. Apparently the Miami party/luxury scene did very well from cryptobros throwing their funny money around, and now that money is vanishing. Hard to find sympathy for Miami real-estate sharks, but there's also potential fun from the IRS investigating cryptobros tax filings, or lack thereof. So I guess if you a) have cash and b) a desire to swim with the land sharks, could be a good time to keep an eye on foreclosed property bargains around Florida.
Biting the hand that feeds IT
