Patrick Tan – Medium

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Patrick Tan
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ChainArgos

Binance Built a Blockchain, Except it Didn’t

For all its claims of promoting decentralization, Binance runs two “blockchains” that are not just highly centralized, but regularly alter…

15 min readJan 2, 2023

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Binance Built a Blockchain, Except it Didn’t

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Patrick Tan
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DataDrivenInvestor

Anatomy of an Algo Stablecoin Apocalypse — TerraUSD

The near-collapse of algorithmic stablecoin TerraUST is just one more example of crypto-based financial alchemy doomed to failure and why…

10 min readMay 11, 2022

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Anatomy of an Algo Stablecoin Apocalypse — TerraUSD

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Patrick Tan
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DataDrivenInvestor

The Next Crisis will Come from Cryptocurrencies

Every decade or so, a catalyst is provided for a major economic crisis. The nineties had the dotcom bubble, the noughties had the sub-prime…

11 min readJul 10, 2021

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The Next Crisis will Come from Cryptocurrencies

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Patrick Tan
in
DataDrivenInvestor

Poly-gone — 400 Million MATIC Missing?

Promises made, promises kept? Tracking token flows of the Polygon blockchain’s MATIC tokens raises serious questions about the Polygon…

6 min readJan 15, 2024

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Poly-gone — 400 Million MATIC Missing?

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Patrick Tan
in
ChainArgos

3 Things You Must Know About Tether’s Terms of Service

Stablecoin issuer Tether’s Terms of Services were updated on December 7, 2023, and if you hold or accept USDT, you should pay attention.

6 min readJan 5, 2024

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3 Things You Must Know About Tether’s Terms of Service

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Patrick Tan
in
ChainArgos

What happens when Tether “freezes” your Tether?

Stablecoin issuer Tether has been going on a wallet “blacklisting” spree of late, but what happens if your USDT gets “blacklisted” even…

6 min readDec 26, 2023

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What happens when Tether “freezes” your Tether?

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Patrick Tan
in
ChainArgos

Binance, Rubles, The FCA & Failed KYC

Major gaps remain in the global financial services licensing regime, allowing nefarious actors to engage in regulatory arbitrage that…

13 min readNov 30, 2023

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Binance, Rubles, The FCA & Failed KYC

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Patrick Tan
in
ChainArgos

A Tale of Tether on TRON Before and After the Russian Invasion of Ukraine

The recent Hamas attack in Israel has drawn into sharp focus the use of cryptocurrencies, especially stablecoins, to facilitate terrorism…

7 min readOct 14, 2023

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A Tale of Tether on TRON Before and After the Russian Invasion of Ukraine

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Patrick Tan
in
ChainArgos

Is stUSDT a “JustLend Justin” Exit Scam?

We’ve seen this one before — a closely associated ecosystem managed and run by one of crypto’s biggest personalities and a “staking”…

5 min readSep 28, 2023

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Is stUSDT a “JustLend Justin” Exit Scam?

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Patrick Tan
in
ChainArgos

Can the Ripple Decision be a Victory for Everyone?

Both crypto proponents and skeptics are claiming a legal victory from the recent U.S. District Court decision between the SEC v. Ripple…

12 min readJul 29, 2023

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Can the Ripple Decision be a Victory for Everyone?

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Patrick Tan

Patrick Tan

General Counsel for ChainArgos, the blockchain intelligence firm made famous for breaking the story that BUSD was unbacked by US$1.4bn

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