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Assuming that the unlicensed exchanges have the capital to process withdrawals. In other unregulated industries the people operating the gray market platforms a
by humaniania 5y ago
Assuming that the unlicensed exchanges have the capital to process withdrawals. In other unregulated industries the people operating the gray market platforms are almost always embezzling money and not keeping customer funds in segregated accounts. If the exchanges spend money propping up Tether they won't have it available for withdrawals.
- arcticbull 5y agoExchanges make money hand over fist, they keep non-trivial basis points from a nice simple MySQL transaction. The question is: is the net outflow from the USDT peg into USD more than the revenue they are bringing in?
- humaniania 5y agoYeah but they're operating in a gray market that is going to almost certainly close or shrink with regulation and they're greedy so why not take as much as possible? It's not like the customers have any recourse when their sketchy offshore exchange disappears or closes without paying everyone.