SBF on Twitter: "3) @king_ogboi USDT premium: https://t.co/FGDntsKdEY @tradeboicarti16 OTC demand: https://t.co/q8fEOyAC2X @bullishbtc BTC --> USDT: https://t.co/kwbwn3UYcJ @Dan_BTC quoting @genoplivning on OTC and transparency: https://t.co/kwbwn3UYcJ" / 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

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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…

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SBF

@SBF_FTX

Mar 31, 2020

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:

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