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A comment on Bitfinex just spent $23.7M in fees to make a single Ethereum transaction. Parent comment

Re:Bitfinex just spent $23.7M in fees to make a single Ether... by FireBeyond on Monday September 27, 2021 @04:27PM (#28675579)
So they're an institutional investor. Like I said.
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Re:Bitfinex just spent $23.7M in fees to make a single Ether... by type02 on Monday September 27, 2021 @05:39PM (#28676358)
An institutional investor with ties to their biggest competitor, bit different.
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Re:Bitfinex just spent $23.7M in fees to make a single Ether... by FireBeyond on Monday September 27, 2021 @06:19PM (#28676765)
Yes and no.

Yes, USDC and USDT are different "securities".

But that's like saying that in the regular market that because Charles Schwab and Fidelity are competitors, they don't have a whole lot of cooperation - they do, because at that scale (and with the amount of arbitrage and speculation in crypto), you need to cooperate with your competitors, or you will be iced out.

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