Bitfonex Is a Systemic Risk to the Cryptocurrency System

CZ suggests tether is a systemic risk to the system and that if it were to get screwed over that would that could very well be like a serious cataclysmic event. CZ seem to suggest as much to SBF when they were having their talks over the collapse of FTX. During this period bitfonex and tether ended up commingling a bunch of their money together and giving over one billion dollars to an entity without a contract. These funds got seized as part of a global money laundering investigation which eventually led to the arrest of principal even manual millenally in Greece who got extra day to pull in on suspicion of money laundering for Colombian cartels.