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>How much does bitfinex support the price at $1 on exchanges? An open question. Several attorneys general have ongoing investigations regarding the tether peg.
by sbierwagen 5y ago
>How much does bitfinex support the price at $1 on exchanges?
An open question. Several attorneys general have ongoing investigations regarding the tether peg.
A really grim and cynical person might make the case that exchanges want something like tether to exist, and are incentivized to fudge the public-facing numbers regarding tether trade volume and its order book.
- _3u10 5y agoAsk the Bank of England about their desire to maintain Breton Woods
- spywaregorilla 5y agoI think what you're saying here is that if there was a run on tether, bitfinex might stop supporting it. And sure, I think that's probably true. But I'm asking how much of a role do they play in actively supporting it day to day. Are they the principle buyer of the currency when people want to liquidate? Or is it other people?
- sbierwagen 5y agoIf you asked Bernie Madoff on December 10th 2008 how well his investment fund was doing, he would say "Excellent, thank you." The set of people who have inside information on how tether functions and the set of people who would actually tell the truth about it are entirely disjoint.