I wondered if the runup was like MTGOX. It’s plausible, but if so then someone is providing the dollars for everyone selling into USD on Coinbase etc. Whereas MTGOX’s prices were all self referential right? By the time it started freezing up
One other possibility is that Tether is playing the CME futures and making money from the pump up. I suspect they’re insolvent but it’s possible they aren’t and are merely crooks. The crypto markets interface with real money now
I wondered if the runup was like MTGOX. It’s plausible, but if so then someone is providing the dollars for everyone selling into USD on Coinbase etc. Whereas MTGOX’s prices were all self referential right? By the time it started freezing up
One other possibility is that Tether is playing the CME futures and making money from the pump up. I suspect they’re insolvent but it’s possible they aren’t and are merely crooks. The crypto markets interface with real money now