Why Tether Refused to SBF by howzat

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hive-167922 · @howzat · Jan 11 '23

$4.29

Why Tether Refused to SBF

Its been around two months since the collapse of FTX and the company filing for Chapter 11 bankruptcy but the bitter details that happened during the crisis continue to pop up even recently.

According to a report by Forbes, Tether which is the issuer of USDT stablecoin received a call from the disgraced founder of FTX, Sam Bankman Friedman just ahead of filing for bankruptcy.

It does seem like SBF was trying to knock at every possible door to stop the ship of FTX from sinking.

![timthumb.png](https://images.hive.blog/DQmWJTtxVS3VVFwK6SLexCMjQcW2aiUsAvRJmiyARuvZskC/timthumb.png)
`Credits: CryptoSlate`

According to reports, even Binance pulled out of the deal after initial support.

Seeing the collapse of his empire, SBF tried to reach out to Tether for financial help, according to Paolo Ardoino, Tether CTO.

According to Forbes, Tether CTO said:

> “He suddenly asked for something that he had never asked for before, and he wasn’t talking about $10 million. The way he was talking suggested that he had a big issue. His request was in the billions.”

SBF was desperately trying to contact to save FTX from collapse but he couldn't succeed.

Tether itself had some bittersweet moments. Despite multiple instances of scrutiny, it managed to stood its grounds.

FTX was one of the biggest partners of Tether.

---
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Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@howzat/why-tether-refused-to-sbf)

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@belemo · Jan 11 '23

$0.03

Man the more you see about this SBF story, the more disgusting it becomes. That man should rut in jail.

👍 howzat

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@ebingo · Jan 12 '23

Very tiring story...It take a lot of foolishness for you to allow things to fall down around the way he did.

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@howzat · Jan 11 '23

RE: RE: Why Tether Refused to SBF

Lol.. You might see some serious one later. 

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@howzat/re-belemo-zdnvh)

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@ebingo · Jan 12 '23

There is nothing he can do at this point to save himself really. I really think he got to a point and decided that he would play his cards badly in every way possible.

His housemate (and director of engineering) has decided to take an immunity deal. I wrote about that [here](https://leofinance.io/@ebingo/one-ftx-executive-has-agreed-to-an-immunity-deal)

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@jfang003 · Jan 11 '23

$0.02

RE: Why Tether Refused to SBF

After seeing how SBF acted, I am not surprised he ran over to Tether to get an emergency loan. I would also be skeptical about tossing out billions of dollars if you couldn't guarantee that it would be paid back.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@jfang003/re-howzat-7lw6ks)

👍 howzat

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@young-kedar · Jan 11 '23

$0.03

Smart move from Tether. They should allow the SBF plague to come near them. From the way he approached them, they already knew he's on a sinking ship.

👍 howzat, ebingo

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@ebingo · Jan 12 '23

Lol...plague...sounds like something from an Egyptian book...😂😂😂

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@young-kedar · Jan 12 '23

Lol, it could be. I read it in one book where the protagonist played a game called 'stop the plague'. That's how SBF was 😂

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1 reply

@howzat · Jan 11 '23

Hm

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