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Top 30 coins at 2021-12-18 21:42:37
↗️+0.45 Bitcoin BTC $46953.72 $887630410610
↗️+0.46 Ethereum ETH $3960.87 $470527439309
↗️+0.42 Binance Coin BNB $536.01 $89406923687
↘️-0.05 Tether USDT $1 $76347878003
↗️+0.81 Solana SOL $183.06 $56378585761
↗️+0.32 Cardano ADA $1.25 $42593732233
↘️-0.1 USD Coin USDC $1 $42036366934
↗️+0.94 XRP XRP $0.83 $39248955731
↘️-0.11 Avalanche AVAX $113.88 $27693723060
↗️+2.21 Terra LUNA $73.65 $27617139735
↗️+0.54 Polkadot DOT $25.48 $25161449893
↗️+0.29 Dogecoin DOGE $0.17 $22871307506
↘️-0.07 SHIBA INU SHIB $0 $17189252655
↗️+0.63 Polygon MATIC $2.21 $15650235810
↘️-0.05 Binance USD BUSD $1 $14380870621
↗️+0.2 Crypto.com Coin CRO $0.53 $13309103682
↗️+0.35 Wrapped Bitcoin WBTC $46749.7 $12105367077
↗️+0.5 Litecoin LTC $148.89 $10305735915
↗️+0.04 Uniswap UNI $16.02 $10058210292
↘️-0.03 Dai DAI $1 $9229315868
↗️+0.56 Chainlink LINK $19.47 $9094529960
↘️-0.15 TerraUSD UST $1 $8912930488
↘️-0.23 Algorand ALGO $1.37 $8655121368
↗️+0.17 Bitcoin Cash BCH $435.52 $8244977438
↗️+0.09 TRON TRX $0.08 $8204728731
↗️+0.23 Stellar XLM $0.26 $6316905922
↗️+0.36 Decentraland MANA $3.39 $6183326310
↗️+0.41 Axie Infinity AXS $96.68 $5888513747
↗️+0.44 FTX Token FTT $40.02 $5568129678
↘️-1.24 Hedera HBAR $0.31 $5564904421
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United States Dollar USD
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Market information on 2021-12-18 21:42:38
Market capitalization: $ 2209 billion (+ 2.6%) 🔺 (against $ 2201 billion yesterday morning).
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Tether has so far issued 58.5 billion tethers—8 billion in the first two weeks of the month. You will notice that it keeps printing tethers at a faster and faster rate. That’s to make up for all the real money that isn’t in the system. When will Tether blow up? When regulators and law enforcement step in or it crumbles in on itself. Remember, Madoff’s Ponzi fell apart on its own. Currently, the price of bitcoin is $45,000, down after Elon dissed it (more below) and Jack Dorsey’s Square said it is no longer buying bitcoin after suffering $20 million in losses on its $220 million investment in the last quarter. Tether’s muddy pies. You asked for transparency, and Tether finally delivered in the form of two, uh, pie charts. I wrote about it here. David Gerard covered it here. And there’s also a story in the FT. There’s been endless chatter on Twitter about “commercial paper,” because apparently, it accounts for half of all the assets backing tethers. What’s CP? In the case of Tether, it’s likely another way to disguise IOUs—i.e., handing out free tethers to their buds at Binance, FTX, and elsewhere. The real story here is that less than 3% of Tether’s reserves now consist of cash. What is the NYAG going to do about it? A FOIL request sent to the prosecutor recently yielded this response. Folks are asking why Tether hasn’t collapsed yet, given that everyone knows it’s a farce and they are just printing money out of thin air. The answer is because Tether has no obligation to redeem tethers, to begin with—that’s written into its terms of service. The reckoning will come when people try to cash out of bitcoin, and it dawns on them there is no real money in the system to support withdrawals, because the markets were based on funny money. Binance under investigation. 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