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
Conversation
This Tweet was deleted by the Tweet author. Learn more
Replying to
Sometimes I move it back and forth between subaccounts so that I feel like I'm getting paid