bridget ·
A Tangled Web 🕸️ Ultimate Bet's Troubled History: Ultimate Bet was at the center of a massive cheating scandal, where insiders exploited software vulnerabilities to view opponents' cards and gain an unfair advantage. This not only destroyed its reputation but also led to its eventual collapse.
Daniel Friedberg's Role: Friedberg, who was legal counsel for *Ultimate Bet*👆🏼during the cheating scandal, later became part of the legal team for FTX. FTX, much like Ultimate Bet, faced its own downfall due to accusations of financial misconduct and fraud.
Connection to Tether: Stuart Hoegner, now Tether's general counsel, worked alongside Friedberg during their time at Excapsa, the parent company of Ultimate Bet. This link ties Tether to individuals who played key roles in the history of Ultimate Bet, a company marred by unethical practices.
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