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huge volume from Coinbase on the dump action this past day. trumping Bitfinex, Gemini, and itBit combined Coinbase actually led this move for days with higher vol than Finex, with Finex being led around like a dog in a discount vs rest of market

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@Whalepool_Labs

May 10, 2020

BTC/USD Ticker (24H BTC Vol) Gemini: $8,515 (6,305) GDAX: $8,517 (48,507) Bitstamp: $8,518 (29,659) Bitfinex: $8,514 (25,663) Kraken: $8,517 (20,057) itBit: $8,504 (1,406) ------------------------ VolWgtPr: $8,516, (131,597) 2020-05-10 17:51:33.767694 UTC

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Interestingly I think the Coinbase effect is related to USDT

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and

wait what?

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Coinbase is the most reliable fiat on/offramp

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and

yea, for Americans. i normally segment them in the yankee on/off ramp category v rest-of-world mkt which is normally in driver's seat but this relates to USDT because? thought u were implying some arb or something

SBF

@SBF_FTX

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@austerity_sucks

What's a full USDT arb?

6:59 PM · May 10, 2020Twitter Web App

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can - buy USDT discount and redeem at T window at par - use USDT at premium to buy cheap bitcoin and sell on BTC/USD market to get more USD by "full" maybe u mean, starting from USD and going into USDT then into USD again to profit, which I guess would be USD-BTC-USDT-BTC-USD?

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Yup--and this is one leg of that

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