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A comment on Tether minted most USDT to just 2 firms – Alameda and Cumberland. Parent comment

Re:Tether minted most USDT to just 2 firms – Alameda and Cum... by throwup2021 on Thursday August 12, 2021 @12:06PM (#28158006)
As an individual trader running an algorithmic arbitrage operation at > 40 exchanges, I have to. You can count me in for USDT 56k. I am small fish.

My algorithms constantly watch USDT/USD price at 3 exchanges which are independent from Tether Inc, and if USDT drops below $0.95 at one of them, they stop issuing orders selling to USDT.

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Re:Tether minted most USDT to just 2 firms – Alameda and Cum... by backprop1993 on Thursday August 12, 2021 @12:18PM (#28158163)
Are you saying that the exchanges are forcing a $1 +/- 0.05 price range for Tether instead of letting it float freely? Interesting.
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Re:Tether minted most USDT to just 2 firms – Alameda and Cum... by ceejayoz on Thursday August 12, 2021 @12:23PM (#28158237)
No, they're saying their personal USDT trading strategy involves a cessation of activity if Tether breaks the $1 peg, as it probably indicates trouble requiring human intervention.
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Re:Tether minted most USDT to just 2 firms – Alameda and Cum... by merely-unlikely on Thursday August 12, 2021 @12:39PM (#28158465)
Not forcing per se - the arbitrage incentivizes market makers to keep the value roughly in the expected range. This happens in any asset class but the mechanic is quite straightforward in this case.
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