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Strange that the price has dropped a lot less on Binance, to 99.8, while it's 97.x on Coinbase

• pjc50 4y ago
  Presumably Tether run market-maker operations to stabilize it, but that requires keeping actually valuable cash at exchanges, which has its own risks. They can run out of firepower, and it's not as simple as it sounds to arbitrage between exchanges.
  • permo-w 4y ago
    it doesn’t sound simple. if i’m understanding correctly it sounds like it could very quickly lead to competing demands of more and more money from competing exchanges