Right the idea here is that somebody paid 100k to Tether for the tokens, those got into the market, being sold around, in the end I buy for 97k, then I hand tho

Right the idea here is that somebody paid 100k to Tether for the tokens, those got into the market, being sold around, in the end I buy for 97k, then I hand those back to Tether for 100k - transaction feels (which would be ~250 USD). So in theory at the end of this whole operation Tether is up 250 USD Though I think the cynical view for Tether stuff is that they have not been doing things by the book here and either they have been siphoning deposits, or printing Tether on their end. But hey, if they still got big deposits no problem for your original trade right?