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Kraken does and they are US regulated. Good luck with your short, you should make %100 of your money risk-free when Tether implodes.
by csomar 7y ago
Kraken does and they are US regulated. Good luck with your short, you should make %100 of your money risk-free when Tether implodes.
- arcticbull 7y agoTether itself is manipulated lol, even if I short it in Kraken I'm still playing Bitfinex's game. Once 30% of their reserves were seized they remained 1:1 -- there's no way to win whether I'm right or wrong.
- deleted 7y ago[deleted]
- chillacy 7y agoThere is a short play here: if there's ever a bank run on Tether, it'll crash to 0. The bet would be to hold onto this short and wait for this event to happen, but given how banks survive with fractional reserve banking, it's entirely possible that a bank run will never happen.
- arcticbull 7y agoTrue, though I'd also have to have faith that the exchange remains solvent and that an upwards run in Tether (and it does run up ~10% from time to time) doesn't blow through my collateral -- on top of my other concerns. I think there's easier ways to make money, after all Madoff's scam took 40 years to unravel. I'm not willing to wait that long.
- ac29 7y agoGiven their fees (0.06%/day, or ~22%/year), you'd have to be right on the collapse pretty quickly to turn a profit. https://www.kraken.com/features/fee-schedule https://www.kraken.com/features/fee-schedule