Bitcoin investor and entrepreneur Mike Alfred recently voiced some strange happenings in the crypto world. Mike Alfred specifically pointed to developments around Binance and Tether. However, many investors criticized Alfred for spreading “FUD (fear, uncertainty, doubt)”. Here are the details…
Mike Alfred draws attention to Binance resignations
Mike Alfred started his tweets by mentioning Binance. “Two respected US executives, Catherine Coley and Brian Brooks, abruptly resigned in 2021 under mysterious circumstances after taking a look at Binance’s inner workings. Brooks resigned just 3 months after starting and Coley hasn’t been seen since.” cryptocoin.comAs we reported, Brooks resigned in August 2021 after joining Binance.US as CEO in May 2021 and taking over from Coley.
He “disappeared” after leaving the job. Crypto media outlets pointed to his absence from social media until January. Before leaving Binance, Coley was very active on social media and was constantly sharing his personal life on both his Binance.US social media accounts and his Twitter account. She has been silent on social media since April 19. His work experience at LinkedIn comes to an end with his two-year stint as CEO of Binance.US, which he left in June 2021, and some news outlets are trying to reach him due to his online silence.
Alfred: Silence from Binance ex-CEOs “means a lot”
Alfred says that both Brooks’ and Coley’s silence meant a lot. “Neither of them seem willing to go on the record about what they saw there. But it wouldn’t be wrong to say it wasn’t good,” Alfred tweeted. Also, many like Alfred have doubts about the sustainability of Binance or Tether. Binance, the world’s largest Bitcoin and altcoin crypto exchange by volume, has been criticized by many.
Neither has been willing to speak on the record about what they saw there but it's safe to say that it's not good.
In crypto, where there is smoke, there is almost always fire.
Stay safe out there.
— Mike Alfred (@mikealfred) November 27, 2022
Noted New York University Professor Nouriel Roubini, who warned in 2006 that the US housing raid would cause a financial crisis, is addressing those he says are crypto scammers. His nickname is “Dr. Doom,” Roubini explained that Changpeng Zhao, CEO of cryptocurrency exchange Binance, may be a bigger swindler than Sam Bankman-Fried, founder of bankrupt FTX.
Things are not good for Tether either
Meanwhile, things aren’t looking too well for Tether, either. Tether, an asset-backed cryptocurrency, was launched in 2014 and is owned by Hong Kong-based iFinex Inc., which also owns the Bitfinex cryptocurrency exchange. owned by the company. All these doubts come just after the big downfall of FTX and its founder, Sam Bankman-Fried (SBF). Now, many people say they were deceived by SBF and its crypto cheats. Boston Trading Co. Its CFO, Dr. Jeremy Britton used the following statements:
Sam Bankman-Fried was touted as the ‘second Warren Buffett’ by Fortune magazine in August 2022, but he bankrupted two of his companies, investors lost up to $10 billion, and there are numerous allegations of direct fraud and theft. It’s not just accidental mismanagement.
Britton believes that the hacking news following the FTX bankruptcy are “rumor”. This initially made people feel sorry for SBF. Another story that surfaced on the matter was that SBF took $600 million from its own stock exchange and apparently handed over the stolen funds to allegedly corrupt officials in the Bahamas. These arguments are purely assertions.
Mike Alfred addressed the cryptocurrency industry
Alfred, who reacted with his speculative speeches, urged the crypto industry to raise its voice. “When the truth about CZ and Binance is finally revealed, all the people here who worship him relentlessly will suddenly deny that they support him,” he tweeted. Also, Alfred thinks that Binance failure could beat Tether. Alfred used the following statements:
If Binance explodes, Tether’s peg to the US dollar will almost certainly lift. The recent large USDC/USDT transactions are a warning. Get ready.
If Binance implodes, it will almost certainly happen simultaneously with the de-pegging of Tether. The recent massive USDC/USDT trades are a warning. Be prepared.
— Mike Alfred (@mikealfred) November 26, 2022
