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Woah, I didn't say that it's "legit." I just explained why I don't think exchanges have risk. There is a lot to be concerned about but given what I know about exchange balances and flows, I don't think $2b is unbelievable.

6:46 AM · Jan 26, 2018Twitter Web Client

Schuster (old Account)

@SchusterDEV

Jan 26, 2018

Replying to

@jespow

@ummjackson

and

@WoganMay

$2 Billion in 5 years? Sure. $850 million in less than a month? That's a bit unbelievable. Especially during a time when the value was dropping (AKA, cash was leaving the ecosystem, not entering).

Thomas Bollen

@mrtbollen

Feb 15, 2018

Jesse, can you at least confirm that the USDT which is trading at Kraken was (partly) bought for actual dollars by a bank transfer to Tether? Or was it already in existence and just brought to Kraken by previous USDT owners who started trading it on your exchange?