In early posts on the forum bitcoin talk, devasini called complaining customers whiners. But compared with other exchanges, which tended to collapse after stealing or losing customers funds, bit finex was pretty reliable. By march 20 seventeenth, more than 50 million dollars in tether was in circulation. The following month, the banks in ti wan that tether and bitfinex had been using closed their accounts,. They left devasini's executive so desperate that they considered chartering a jet and flying palets of cash out of the country. Its founder, john betts, whom i met in manhattan, puffed on a vape pen as he explained that tether was a legitimate business,
This week's Cover Story for Bloomberg Businessweek:
"Stablecoin Tether Grows Into Crypto World’s $69 Billion Mystery"
Read by Bloomberg's Mark Leydorf.
A wild search for the U.S. dollars supposedly backing the stablecoin at the center of the global cryptocurrency trade—and in the crosshairs of U.S. regulators and prosecutors.
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