3 ms·

Because they will do everything to liquidate you, at one point price of tether briefly hit 1000$ on kraken.

• viro 5y ago
  as a "outsider" that makes no sense to me. tether is supposed to be a stable coin ... how the fuck was it $1000
  • grapehut 5y ago
    Generally spikes like that happen because of fat-finger mistakes that blow through the order book, and typically return to normal within seconds.
    • 988747 5y ago
      There was a short spike of CHFPLN on Forex few years ago: exchange rate went from less than 4.00 PLN to 5.50 PLN, because of Swiss central bank decision to not stabilize it anymore. Some people made a lot of money (or so they thought). Few days later the broker declared that spike "a technical glitch" and they cancelled all the trades. The moral of the story is: your exchange will always find a way to screw you.
  • mcintyre1994 5y ago
    It looks like it was a very brief spike and immediately went back to its peg, but I have no idea how it happened. https://twitter.com/Bitfinexed/status/1405037796172222466?s=20 https://twitter.com/Bitfinexed/status/1405037796172222466?s=...