Conversation

This Tweet was deleted by the Tweet author. Learn more
Jesse Powell
@jespow
a) then why cover it? b) twitter, reddit, company contact page? People might be reluctant to take interviews because (from personal experience) reporters are often accusatory, looking for a sensational angle, haven't done homework.
1
1
16
Robert-Jan den Haan
@erjeetjeh
Hi Jesse, given I used all options you mentioned under b), and was given email addresses of executives at Kraken who would help me further, but who have subsequently not replied to any of my emails, I take it all those will now be answered?
1
4
Jesse Powell
@jespow
Probably depends on what your question was. If it was something like "I'm running this story tomorrow about how Kraken's CEO is an alien vampire unless you prove otherwise.", you shouldn't expect a response.
1
1
1
Robert-Jan den Haan
@erjeetjeh
Yes, I would be here on Twitter stating I didn't get a response back from Kraken if I it was about an alien story. Let's make it simple, you know the Bloomberg article on your USDT/USD pair well, I asked questions on the data it used and on getting Kraken’s view on it.
1
2
Robert-Jan den Haan
@erjeetjeh
My views on that article in general are here: twitter.com/erjeetjeh/stat, also linked in the same email. You can see there and in replies, focusing on the data, not the line of the Bloomberg article. Genuine, normal, relevant questions. No response. Want me to state them here?
Quote Tweet
Robert-Jan den Haan
@erjeetjeh
·
So today’s article by @mattleising on Tether and Kraken is really interesting. I love the data analysis approach. For me, the big question is the recurring numbers. Who is doing this and why? Who benefits? bloomberg.com/graphics/2018-
Show this thread
1
2
Robert-Jan den Haan
@erjeetjeh
Alright, thanks. They are not covered in the blog post, different focus than the Bloomberg article itself. 1. How come there are these reoccurring order sizes on the Kraken USDT/USD trading pair (Twitter screenshots below show 1000, Bloomberg article also shows many 75)?
Image
Image
2
1
Robert-Jan den Haan
@erjeetjeh
2. Why do these reoccurring orders alternate between buy and sell orders? I.e. the two screenshots are half an hour apart 3. Do these orders, and the alternating buy and sell orders, raise red flags to Kraken or not? Since you have all the monitoring data, what are we looking at?
2
1
Robert-Jan den Haan
@erjeetjeh
4. Who is behind these trades? Not asking to identify, but is this one trader (or entity) or a few (<10) or are we talking many? 5. How are these trades - in your view - beneficial for those executing them? Or how could they be?
2
1
Jesse Powell
@jespow
Replying to
@erjeetjeh
4. Can't say but it doesn't matter. 5. Making money arbing on other exchanges, or maybe market maker paid by Tether with volume reqs, or maybe they think they're going to get fee discounts for the volume, or maybe they're testing bots before launching on other markets.
6:11 PM · Aug 19, 2018Twitter Web Client
Robert-Jan den Haan
@erjeetjeh
Replying to
@jespow
Thanks for answering. Re: 5, not sure how the alternating buys and sells can relate to arbitrage, it shouldn't be a pattern? Tether market maker/pursuing fee discount could be an explanation, but isn't that a form of creating ‘fake’ volume? There are USDT trading fees right?
2
Robert-Jan den Haan
@erjeetjeh
I know you have had wash trading accusations regarding the pair. Although that should work as a signal to pump, which makes little sense for USDT, it does appear to relate to creating volume. Would you agree or not? Not seeing how it's malicious either (though can't rule it out).
1
Show replies