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> You have placed all your trust and blind faith in these unregulated exchanges that no one ever audits. As I mentioned in the other comment thread, Coinbase a
by everfree 5y ago
> You have placed all your trust and blind faith in these unregulated exchanges that no one ever audits.
As I mentioned in the other comment thread, Coinbase and Kraken trade USDT, are highly regulated under US law, and are audited regularly. Gemini is also highly regulated under US law and audited regularly, though they don't trade USDT. I don't know where you're getting this idea that most exchanges are unregulated and never audited, or that it even matters as long as the particular exchange you are using is regulated and audited.
It would be really hard for me to believe that both Coinbase and Kraken are colluding to trade USDT at a rate other than fair market value as determined by their order books.
- jqpabc123 5y ago... both Coinbase and Kraken are colluding to trade USDT at a rate other than fair market value They may not be a party to any collusion. They may simply be powerless to prevent or affect it in any material way. As the crypto market stands, the largest exchange in the world has access to unlimited crypto funds simply by minting more Tethers. At the same time, their trading volume alone gives them significant price influence over these same Tethers. If they collude with enough other exchanges to control a substantial majority of the Tether market volume, any outlier exchanges (like Coinbase and Kraken) would just be along for the ride.