20 million Tethers yesterday. 25 million today. It's nearing 400 million 'dollars' now. With a 70-80 billion dollar market cap, which is bilge of course, that might mean USDT has amounted to 10-20% of the money driving Bitcoin, let alone alts.
BFX/Tether still haven't provided any evidence that USDT is anything other than made up funbux.
A Bitfinex employee themselves suggested that the way to redeem Tethers for real dollars is to go to Kraken which is the one and only USD/USDT market.
https://www.reddit.com/r/BitcoinMarkets/comments/6uarbw/so_whats_the_subs_opinion_on_this_finex_and/dlxngwb/This also means that Bitfinex has effectively offloaded the dollar peg to whatever chump on Kraken buys the idea and coughs up.
Where is this going to end?
