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This.

There is likely very little USD in any of the major exchanges, they are all almost certainly running a fractional reserve given recent price hikes.

When the Tether nonsense implodes there'll be a bank run on all exchanges and major liquidity crunch.

There's basically no wait to safely profit from this other than being out of the market.

> they are all almost certainly running a fractional reserve given recent price hikes

Agreed that a lot of exchanges are non-transparent, can't tell if they're stealing or losing customer funds.

But this is unrelated to "recent price hikes". A higher exchange rate doesn't cause fractional reserve.