John Carvalho Deems BitGo As One Of The World’s Most Dangerous Companies After Tether Comments

John Carvalho Deems BitGo As One Of The World’s Most Dangerous Companies

The fallout for the most recent Bitfinex-Tether debacle has been huge. After the New York Attorney General’s [NYAG] office issued a lawsuit against Tether Limited and Bitfinex. They are currently facing assertions that Bitfinex borrowed $600 million from Tether to stay afloat after the trading venue reportedly lost $850 million. The climactic deficiencies are considered to be the result of Crypto Capital, a Panama-based payments processor that Bitfinex used, having assets frozen in various nations around the world.

Many crypto influencers added their two cents on the matter. One of the most conspicuous cases was by Mike Belshe, the CEO of BitGo.

He stated:

“The @Tether_to and @bitfinex death will ultimately be a massive boon to digital assets and cryptocurrency. Whatever the short term impact, this will help digital assets move to the next level.”

To this, John Carvalho replied by Tweeting:

https://twitter.com/BitcoinErrorLog/status/1123137708048683008

In fact, John was not the only one to notice this. Another user Dong Zhao noted:

“Shit ! what had Bitgo done when Bitfinex lose 120000 coins? you just removed the ads that saying you have assurance for Client’s security! I think if Bitgo dies it would be good news for crypto !”

The CEO of social trading platform eToro, Yoni Assia, took to Twitter to talk about the this is likely going to impact on crypto prices. He pondered on the likelihood of a potential Bitcoin price pump if the news causes people to exit USDT as soon as possible. Independent crypto researcher and analyst Hasu suggested that the disaster would unavoidably draw greater regulatory investigation to exchanges, which could, in turn, harm the utility of Bitcoin and other crypto assets.