Tether Is Good

Usually I’m here to discuss all the problems with Tether and Bitfinex, but considering that it’s as good a time as ever to make a rapprochement, let’s go for it.

All The Things Tether Can Afford Besides A Proper Attestation Or Audit

Lately, Tether, Bitfinex, and Deltec have prided themselves on all the generous giving they’ve been able to accomplish. I think we should offer them a round of applause and look into these causes that are more important than allaying the concerns of investors and observers.

Tether Donates $1 Million to Hurricane Dorian Relief

Tether, in September of 2019, pledges $1 million to Hurricane Dorian relief. Quite a wonderful gesture, but it comes with a few caveats.

  1. All donations are sent to Deltec Cares, a charity that literally no one in the world has heard of. Want to donate? Too bad, there’s no donation page:

2. Want to find info on Deltec Cares LTD.? Want to know about its charity paperwork? Too bad, no information for you, that’s just how the Bahamas works.

3. For some reason, users of Deltec Cares are subject to the same terms of service as… Tether?

4. Out of the $1 million claimed donated, 4929.10 Tethers appear on the blockchain. Apparently the rest is donated in Bahamian dollars.

Tether Sponsors Omni Development

While it’s unclear how much money is going toward helping the Omni Foundation, it’s clear that Tether is sponsoring work on the once single layer where Tether’s were issued. They do not mention any other sponsors.

Tether Pays Peter McCormack’s Legal Fees

In January of 2020, Peter McCormack confirms through Twitter that Tether is “helping with the costs of legal fees.” We do not know what this means — if they are providing pro bono lawyers, funds to pay lawyers, or some other form of financial or legal help — but we do know that Tether is supporting McCormack.

Tether Invests in the “Blockchain Star Citizen”

And finally, it’s with joy that I can say that Tether has chosen to invest (donation would be too strong a word, I suppose) in Samson Mow’s version of Star Citizen, but with cryptocurrencies (that trade on a secondary market… sound like a scary and bad idea?).

Of course, if you have to even ask why Tether is making all of these donations and investments, it’s obviously because they’re so flushed with cash that they not only have millions to giveaway, but can easily afford to invest millions in incredibly risky ventures, like a stupid video game by a friend.

Stay skeptical, friends.