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Coin

<ul class="news-points"> 
 <li>A lawsuit exposes Deltec Bank’s alleged provision of ‘secret’ credit to SBF for Tether purchases.</li> 
 <li>Deltec allegedly knew about suspicious transfers between FTX and Alameda but facilitated them anyway.</li> 
 <li>Deltec stands accused of aiding SBF in misappropriating customer funds.</li> 
</ul> 
Recent developments following Sam Bankman-Fried’s (SBF) conviction on fraud charges suggest a tighter web of connections than previously known. Specifically, a lawsuit filed against alleged enablers of his scheme has shed light on the intricate relationship between SBF, Bahamas-based Deltec Bank, and the USDT stablecoin issuer Tether. 
Bloomberg captured details of the lawsuit in a recent <a href="https://www.bloomberg.com/news/articles/2024-02-17/bahamas-bank-deltec-accused-of-giving-sbf-secret-credit-to-buy-tether" target="_blank" rel="nofollow">report</a>. It disclosed that the lawsuit alleged that SBF’s hedge fund, Alameda Research, received a secret short-term line of credit worth billions of dollars from Deltec Bank to fuel the growth of Tether.&nbsp; 
In particular, the lawsuit alleged that Deltec granted Alameda a three-day grace period to pay for purchased USDT tokens. This alleged “secret line of credit” enabled profitable trades for Alameda, allowing it to sell USDT into the market before funding the purchase. 
As a result, Deltec stands accuse…
The post <a href="https://coinedition.com/crypto-bombshell-deltec-banks-role-in-bankman-frieds-tether-manipulation-scheme-exposed/">Crypto Bombshell: Deltec Bank’s Role in Bankman-Fried’s Tether Manipulation Scheme Exposed</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

Crypto Bombshell: Deltec Bank’s Role in Bankman-Fried’s Tether Manipulation Scheme Exposed

Coin Edition

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