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The Crypto-Time Bomb

Coinlib BTC
Coinlib Cardano
  • Bob, a crypto investor, puts 100 real dollars into Coinbase.
  • Bob then uses those dollars to buy $100 worth of Bitcoin on Coinbase.
  • Bob transfers his $100 worth of Bitcoin to a non-bank exchange, like Bybit.
  • Bob starts trading cryptocurrencies on Bybit, using leverage and receiving promotional gifts, all called Tether.
  • Tether Ltd. buys Bob his Bitcoins on the exchange, almost certainly through a deniable proxy trading account. Bob receives the payment in Tethers.
  • Tether Ltd. takes Bob’s Bitcoins and moves them to a banking exchange like Coinbase.
  • Finally, Tether Ltd. sells Bob’s Bitcoins on Coinbase in exchange for dollars, thereby exiting the cryptocurrency markets.



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