Ex-SEC Official Calls Tether USDT A Ponzi Home of Playing cards Scheme
- John Stark believes USDT issuer is a Ponzi scheme.
- WSJ’s reporter claimed doesn’t publish audited monetary statements.
- Tether’s monetary assertion exhibits a $2 billion enhance in USDT mortgage issuance.
John Reed Stark, a former chief web enforcement officer within the US Securities and Trade Fee (SEC), has described Tether, the issuer of the most important stablecoin USDT, as a Ponzi scheme.
Stark known as Tether a Ponzi scheme whereas reacting to an interview by CNBC with the corporate’s co-founder Reeve Collins, asking about its reserve. The ex-SEC official believes Tether’s ‘lack of responsiveness’ make him the Web3 agency ‘is a home of playing cards.’
Wow, inform us Tether is operating a Ponzi scheme with out telling us that Tether is operating a Ponzi scheme. Simply hearken to his solutions. IMHO, as a former SEC enforcement official of 18 yrs, the evasion/deflection/lack of responsiveness makes me imagine Tether is a home of playing cards. https://t.co/smBHui1Djv
— John Reed Stark (@JohnReedStark)
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