Mark Karpelès on Tether: “Something really bad is going on”

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Mark Karpeles, the ex-CEO of MtGox (the infamously hacked pioneer cryptocurrency exchange) did an AMA on Reddit recently.

While the whole thread is interesting for those that either follow the story or want to recover their lost coin (hopefully everyone will at some point!), we’re particularly interested in Mark’s response on Tether. Namely, someone who has been through a lot of legal trouble could have an actually valuable opinion on something as potentially shady and explosive as Tether.

Here’s what he said:

“I do not think the US are really happy about Tether right now, and that might be exactly why US banks have blocked related transfers. When a third party bank starts blocking your transfers something really bad is going on.”


mark karpeles on tether something really bad is goin gon

For those of you who missed the Tether story – it’s a coin that’s supposedly backed by USD 1:1 buy, the issuing company, has failed to provide audits, dissolved partnerships with auditors, has unclear banking situation and can potentiallybring down cryptocurrency markets, should it collapse. The company behind Tether has received subpoenas from the US as well.

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