SBF on Twitter: "2) This is related to changes in futures premiums, crypto sentiment, miner balance sheets, borrow/lend rates, and desire to move capital. This demand drives up price and in turn supply, so people create. A bunch of people pointed to parts of this, so I'll give out a few prizes:" / Twitter

1) Alright, time for some answers! My brief explanation is roughly: There's huge buy-side demand for USDT. It's coming from: a) OTC flow, primarily from Asia b) People selling BTC --> USDT to hedge positions c) People selling BTC --> USDT to reduce risk

Quote Tweet

SBF

@SBF_FTX

Mar 30, 2020

25 FTT prize to the first person who can explain why this is happening well in a single tweet! twitter.com/whale_alert/st…

Show this thread

19

34

152

SBF

@SBF_FTX

2) This is related to changes in futures premiums, crypto sentiment, miner balance sheets, borrow/lend rates, and desire to move capital. This demand drives up price and in turn supply, so people create. A bunch of people pointed to parts of this, so I'll give out a few prizes:

12:22 AM · Mar 31, 2020Twitter Web App

30

Likes