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Crypto has established itself as a system. And systems, once established, tend to be remarkably stable over time.
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I genuinely find the conspiracy fascinating. People quickly forgot that Tether settled with the NYAG in February 2021 after a thoroughly investigation. Under the FOIL, Coindesk, Forbes and other news organizations obtained the docs with the reserves relative to the investigation, with statements and portfolio reports issued and confirmed by the banks themselves like [Ansbacher](https://downloads.coindesk.com/legal/C2%20Attachment%20B.pdf?_gl=1*716oqi*_up*MQ..*_ga*MTAwODU4OTI2OS4xNjk5OTgzMDU0*_ga_VM3STRYVN8*MTY5OTk4MzA1NC4xLjAuMTY5OTk4MzA1NC4wLjAuMA) and [Capital Union Bank](https://downloads.coindesk.com/legal/C3%20Attachment%20C.pdf?_gl=1*2h93qk*_up*MQ..*_ga*MTAwODU4OTI2OS4xNjk5OTgzMDU0*_ga_VM3STRYVN8*MTY5OTk4MzA1NC4xLjAuMTY5OTk4MzA1NC4wLjAuMA). Tether is backed as 2021, too bad right? Then the narrative shift, the Chinese CM conspiracy: “half of the assets are hold in commercial papers, they’ll likely default”. As of 2022 with rising int rates Tether reduces commercial papers exp to nearly 0 and roll into Treasuries and the narrative gets back to “Tether is clearly unbacked for reasons”. I mean, how can you not be entertained?
[SEC Drops Charges Against Ripple CEO Garlinghouse, Chairman Larsen](https://www.coindesk.com/policy/2023/10/19/sec-drops-charges-against-ripple-ceo-garlinghouse-chairman-larsen/?_gl=1*he8mfq*_up*MQ..*_ga*MTYxOTA0MjM4Ny4xNjk3Nzc2NDc5*_ga_VM3STRYVN8*MTY5Nzc3NjQ3OS4xLjAuMTY5Nzc3NjQ3OS42MC4wLjA.) . Wonder if Reddit's sunsetting of Moon has anything to do with SEC. And if so, will Reddit also fight it out like Ripple and hopefully there will be greater clarity for crypto with regards to securities.
For anyone wanting to go directly to the database: [Cointelegraph report centre](https://research.cointelegraph.com/?_gl=1*dwnye3*_ga*MjgzMDIxMTc2LjE2OTE4OTkxMzk.*_ga_53R24TEEB1*MTY5Njk1NDY2NS40NC4xLjE2OTY5NTUzMjUuMC4wLjA.&_ga=2.28267897.495662466.1696954666-283021176.1691899139)
https://www.coindesk.com/consensus-magazine/2023/10/06/what-happened-during-sam-bankman-frieds-first-week-in-court/?_gl=1*lsnsx4*_up*MQ..*_ga*MTMxNDQxNjA2MS4xNjk2NzA3MDEw*_ga_VM3STRYVN8*MTY5NjcwNzAxMC4xLjAuMTY5NjcwNzAxMC4wLjAuMA.. Good little summary of the first week of the trial.
[https://www.bing.com/ck/a?!&&p=b86a8402b2bf23e1JmltdHM9MTY5NTM0MDgwMCZpZ3VpZD0zZTBkYjViMi1hYzRhLTY1NWUtMTUwZi1hNjIzYWQzNDY0ZTImaW5zaWQ9NTUwNQ&ptn=3&hsh=3&fclid=3e0db5b2-ac4a-655e-150f-a623ad3464e2&u=a1L3ZpZGVvcy9yaXZlcnZpZXcvcmVsYXRlZHZpZGVvP3E9d2h5K2V0aCtjYW4lMjd0K2luZmxhdGUrdG8raW5maW5pdHkmbWlkPUFDREM0NTdEODk4QTZCODg3MTY2QUNEQzQ1N0Q4OThBNkI4ODcxNjY&ntb=1](https://www.bing.com/ck/a?!&&p=b86a8402b2bf23e1JmltdHM9MTY5NTM0MDgwMCZpZ3VpZD0zZTBkYjViMi1hYzRhLTY1NWUtMTUwZi1hNjIzYWQzNDY0ZTImaW5zaWQ9NTUwNQ&ptn=3&hsh=3&fclid=3e0db5b2-ac4a-655e-150f-a623ad3464e2&u=a1L3ZpZGVvcy9yaXZlcnZpZXcvcmVsYXRlZHZpZGVvP3E9d2h5K2V0aCtjYW4lMjd0K2luZmxhdGUrdG8raW5maW5pdHkmbWlkPUFDREM0NTdEODk4QTZCODg3MTY2QUNEQzQ1N0Q4OThBNkI4ODcxNjY&ntb=1) ​ [https://www.coindesk.com/tech/2021/03/10/valid-points-why-ether-doesnt-need-a-supply-cap-to-hedge-against-inflation/](https://www.coindesk.com/tech/2021/03/10/valid-points-why-ether-doesnt-need-a-supply-cap-to-hedge-against-inflation/) ​ [https://www.makeuseof.com/ethereum-is-deflationary-what-does-that-mean/](https://www.makeuseof.com/ethereum-is-deflationary-what-does-that-mean/) ​ First few that come up on a quick search.... as long as you're not approaching it with the mindset that the only way to control inflation (isn't btc inflating? yes. yes it is) and examine data...
We've made this story free to read. You can learn about Grayscale's latest federal backing by [reading our story outside of the paywall with this link.](https://www.bloomberg.com/news/articles/2023-08-29/us-court-paves-way-for-first-bitcoin-etf-in-grayscale-ruling?accessToken=eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJzb3VyY2UiOiJTdWJzY3JpYmVyR2lmdGVkQXJ0aWNsZSIsImlhdCI6MTY5MzMyMjQwMCwiZXhwIjoxNjkzOTI3MjAwLCJhcnRpY2xlSWQiOiJTMDVQSEZUMEFGQjQwMSIsImJjb25uZWN0SWQiOiJCNTIwMUQ0RjVFMzM0QTNEOEE4QjdDNTBCMkYzNjU4NCJ9.3lsan8Re6x63f8oKscfwHJhacQt9yUGilbmjjG8Njm8)
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