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throwup2021

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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Are you saying that the exchanges are forcing a $1 +/- 0.05 price range for Tether instead of letting it float freely? Interesting.

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.

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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