More weird action in cryptoworld!
Another great example of how the crypto market and information are completely out of sync. Imagine if an Apple supplier got subpoenaed...it would hit the market in seconds after release.
So what happens next? Heres what i think is about to go down
1-The subpoena is ignored since Bitfinex isn't based in the U.S., and U.S. banks start to disable/deny transactions to Bitfinex
2-HK puts the pressure on and Bitifinex trading is halted indefinitely
3-Bitfinex is found to have "inflated" USDT by about 70%. It wouldn't be a stretch of the imagination considering the premium GBTC trades for
4-Cryptomarket plummets with bitcoin flash crashing to 8,000 before quickly going back above 10,000. The alts lose the most value and BTC/ETH dominance rockets
Safe play is to get out of the alts and keep dry powder to buy BTC and ETH