my hunch is that the trump family saw the incredible amounts of money Howard Lutnick was making for doing nothing other than looking the other way while running the money launderer's favorite bank (the stablecoin Tether) and decided they had to get in on the action (Tether is by far the most profitable company in the history of the world on a per employee / per expenses basis, something like 1,000x more profitable than Nvidia, Goldman Sachs, or Blackrock on that metric)
"The United States mustn't cede dominance in the space to other nations and currencies."
America has proven itself to the rest of the world to be untrustworthy, and irresponsible, which has forced the world to look elsewhere for leadership and reliable relationships.
The US hasn't ceded anything, but is rapidly losing everything and everyone beyond it's borders through it's own selfish capriciousness.
I'm reminded of the frequent "get politics out of my ____" cry from conservatives, when what they really mean is fill it with politics that I agree with. Like fish unaware of water.
Phew what a read. I cannot thank you enough for your time and effort in explaining your research. Thank you, honestly. Keep it up. New to Substack, new to yours and sticking to it as i am trying very hard myself to understand what is going on behind closed doors. Thank you :)
small issue with this. It is not widely accepted that cryptocurrency or stablecoins are the primary method of financing for organized crime. Even the study you cited only says that stablecoins make up 63% of illicit crypto transaction volume. That is not to say that stablecoins outweigh fiat currency use in these crimes. I'm pretty sure fiat currency still constitutes the principal funding mechanism for organized crime according to studies on the matter.
Great write up and welcome back. It is cool to see Cryptadamus comment, they have some great writings and perspective on this subject.
The comment I want to make is I hate this stuff so much. My wife and I have been saving aggressively for over 10 years in the hopes of retiring early or reducing workloads. For working in healthcare and education, we didn't do so bad due to the raging, profit-driven markets.
We decided to pull our money out of the stock market shortly after the US election. In early April, I moved most of it back to Euro-based ETFs - it feels more stable than something directly tied to insider tweeting. I still have a chunk uninvested, waiting for something opportunistic. I still see crypto as a giant rug pull, but I'm wondering if it's stupid to not ride the elevator up a little to make sure my savings remain competitive.
I'm not really looking for advice, but I'd take it. I'm mainly frustrated and confused - but that's the point, ya?
A+
my hunch is that the trump family saw the incredible amounts of money Howard Lutnick was making for doing nothing other than looking the other way while running the money launderer's favorite bank (the stablecoin Tether) and decided they had to get in on the action (Tether is by far the most profitable company in the history of the world on a per employee / per expenses basis, something like 1,000x more profitable than Nvidia, Goldman Sachs, or Blackrock on that metric)
https://cryptadamus.substack.com/p/trumps-transition-team-is-tethered
This feels like the beginning of the collapse of social structure. Awesome work. Scary dreams now
"The United States mustn't cede dominance in the space to other nations and currencies."
America has proven itself to the rest of the world to be untrustworthy, and irresponsible, which has forced the world to look elsewhere for leadership and reliable relationships.
The US hasn't ceded anything, but is rapidly losing everything and everyone beyond it's borders through it's own selfish capriciousness.
Truth!
I'm reminded of the frequent "get politics out of my ____" cry from conservatives, when what they really mean is fill it with politics that I agree with. Like fish unaware of water.
Phew what a read. I cannot thank you enough for your time and effort in explaining your research. Thank you, honestly. Keep it up. New to Substack, new to yours and sticking to it as i am trying very hard myself to understand what is going on behind closed doors. Thank you :)
small issue with this. It is not widely accepted that cryptocurrency or stablecoins are the primary method of financing for organized crime. Even the study you cited only says that stablecoins make up 63% of illicit crypto transaction volume. That is not to say that stablecoins outweigh fiat currency use in these crimes. I'm pretty sure fiat currency still constitutes the principal funding mechanism for organized crime according to studies on the matter.
you have a typo: "the collapse of TerraUSD in May 2022 (wiping out $45 million of capital from the market" should be billions not millions
Great write up and welcome back. It is cool to see Cryptadamus comment, they have some great writings and perspective on this subject.
The comment I want to make is I hate this stuff so much. My wife and I have been saving aggressively for over 10 years in the hopes of retiring early or reducing workloads. For working in healthcare and education, we didn't do so bad due to the raging, profit-driven markets.
We decided to pull our money out of the stock market shortly after the US election. In early April, I moved most of it back to Euro-based ETFs - it feels more stable than something directly tied to insider tweeting. I still have a chunk uninvested, waiting for something opportunistic. I still see crypto as a giant rug pull, but I'm wondering if it's stupid to not ride the elevator up a little to make sure my savings remain competitive.
I'm not really looking for advice, but I'd take it. I'm mainly frustrated and confused - but that's the point, ya?