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A comment on $38M USD moved for half a penny. Parent comment

Re:$38M USD moved for half a penny by robjan on Saturday February 27, 2021 @10:23AM (#26285385)
A Forex trade is still taking place so there must be a counterparty. The USD don't just disappear and reappear as EUR. Someone is buying them on the other side. Getting a better rate implies the counterparty getting a worse rate.
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Re:$38M USD moved for half a penny by _iswk on Saturday February 27, 2021 @11:27AM (#26285834)
I'm not sure I understand your criticism. The USD is used to buy BTC. The BTC is then sold for EUR. There's no Forex trade, not directly at least.
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Re:$38M USD moved for half a penny by robjan on Saturday February 27, 2021 @12:57PM (#26286654)
If x EUR is worth y USD, any discount results in someone losing money or taking on Forex risk through some derivative product. It doesn't matter which settlement layer is used.
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