The exchanges are able to buy USDT for less than $1 and use it to trade against customers. Big advantages to them to use it, and also they don’t need banking re

The exchanges are able to buy USDT for less than $1 and use it to trade against customers. Big advantages to them to use it, and also they don’t need banking relationships to acquire it this way. FTX and Binance among biggest customers. Likely offering commercial paper to Tether in exchange for the USDT. Already established that Tether made crypto backed USDT loans to Celsius. Here’s Tether’s customers: https://protos.com/tether-papers-crypto-stablecoin-usdt-investigation-analysis/ https://protos.com/tether-papers-crypto-stablecoin-usdt-inve...