Conversation

It's sort of funny hearing people claim that you can't create/redeem USDT for $. Like, I don't know what to tell you, you can, and we do.

Quote Tweet

Sam Trabucco

@AlamedaTrabucco

Jan 11, 2021

BTW, to connect some dots here -- a lot of the people seeking access to a coin like USDT *aren't* doing so via creation. They're often doing so via just sorta buying it in the markets -- and they're buying a LOT, and REALLY aggressively. twitter.com/CoinDesk/statu…

Show this thread

435

Replying to

and

Hi SBF. Thanks for chiming in. Do you do this directly with Tether?

Replying to

Yup! tether.to

Replying to

and

Do you do it in pretty big size? Ever done it on a weekend?

Replying to

Big size: yes Weekend: eh there's some ambiguity here, but the wires can't be sent over the weekend even if a creation/redemption is initiated during one

Replying to

and

Tether says weekend wires are not an issue bc their biggest customers use the same bank as they do. I guess you don't use the same bank?

Replying to

We do in fact, and so can sometimes do the fiat leg over weekends, but can't get money in/out of that bank over weekends in the first place

Replying to

and

The vast majority of market makers, OTC desks and exchanges have bank accounts at Deltec. Always find it amazing when Tether truthers just refuse to believe it or think it’s lies etc. Peak delusion

Replying to

Hey Larry. Thank you for the info. But do you have any source? Why I'm asking: I'm working for a large institution which is present in OTC derivatives, MM etc. and we do not, and none of my friends working for other institutions do, have an account at Deltec

Replying to

if USDT is redeemed where are the burn hashes like other stablecoins do, also missing an audit where you can flex that you have the funds and not seashells as collateral.

Replying to

These exist! I think

posted some of them recently

12:27 PM · Jan 13, 2021Twitter Web App