Oh, it's even worse. Any time someone sells BTC on Bitfinex, they aren't even allotted real USD held by some Bitfinex account, they are given Tethers, and so far very few have been able to actually wire USD into their accounts.
So, we basically have an incestuous relationship with Bitfinex and Tether (many of the higher ups are the same people), meanwhile they freeze accounts, aren't guaranteeing USD, have dubious amounts of Tethers issued after a massive increase in their market cap (I think some hundreds of millions of tethers issued, nobody know where the actual USD is, or if the USD even is).
If this doesn't smell like a massive Ponzi scheme then I have some crypto to sell you.
So, we basically have an incestuous relationship with Bitfinex and Tether (many of the higher ups are the same people), meanwhile they freeze accounts, aren't guaranteeing USD, have dubious amounts of Tethers issued after a massive increase in their market cap (I think some hundreds of millions of tethers issued, nobody know where the actual USD is, or if the USD even is).
If this doesn't smell like a massive Ponzi scheme then I have some crypto to sell you.