Which means Kraken is helping launder money. Awesome - what can go wrong.
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I think the only thing that matters is that Tether can perform the following: Send
$BTC to Kraken and sell it for$USD Then buy$USDT with$USD to keep the peg On 26th of September they slowed down on this which increased the spread. Now they can buy back$USDT at a discount.pic.twitter.com/5kumPwqUZP
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Anyone can trade with
$USD in Kraken. The only limitation is on withdrawal. The only people in Kraken who would be buying so much$USDT as you see being bought is@bitfinexpic.twitter.com/phFhSMl2XI
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Every time they buy it back at a discount they keep the difference. They have bought back 600M thus far and sent it to the Tether treasury. That is a better profit then they could hope to collect in interest (within any reasonable time-frame.)
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Once Tether is cut down to size and other stable coins take more market share it will be time for new conspiracy theories about who is holding up the price of
$BTC other than Tether and Bitfinex
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The volume in USDT on Kraken is relatively big. Considering you can fallback to fiat USD (not USDT) I wonder who the hell is trading USDT on Kraken ? Why would you do that if you can use normal fiat USD/EUR pairs ? Is this Bitfinex buying USDT at discount ?
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Traders avoid USD and EUR because those will have tax impact.
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This is a third world problem. Country specific. Elect better officials.
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for debils it is ok
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