Patrick McKenzie

He wasn't even under suspicion for laundering tens of billions of dollars around.

SBF was Tether's banker.

Alameda Research, one of the parts of the corporate shell game that they were playing, moved tens of billions of dollars of cash around the financial system, largely under full color of law.

On behalf of Tether, to move it from wherever Tether had it, goodness knows, or wherever their buying customers had it, to I think at the moment it's mostly at Cantor Fitzgerald.

Some shoe has to eventually drop there.

I will eat a lot of popcorn when it does.

But be that as it may.

There's many other ways to launder money.

You can do things like... Let's see.

I...

I establish a shell corporation and I buy a piece of real estate in New York City.

And then I rent that real estate out to people and I collect a stream of rents from that.

And that money looks clean because there is an executable business.

It's my shell corporation that is renting this real estate that really exists to a totally legitimate person.

This money is clean.

And the money that I put into the system to buy this on behalf of the Shell Corporation, I'm just going to wire it to a lawyer.

And the lawyer is going to answer any question from the bank with, I don't know where it came from.

I don't have to tell you.

I'm a lawyer.

It's a real estate transaction.