Mad BTC/USDT pump on Binance - 9k Today ?
Binance made it again what a market mover.
This had to hurt bears on BitMex (leveraged exchange)
But remember one thing, the USDT pair started it which is Tether that many dont like or trust.
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If Tether truly did buy btc instead of simply holding USD at a 1:1 rate this pump might be an attempt by them to try and get back to breakeven. Given recent events I’m guessing they’re trying to get back to a 1:1 tether to USD holding.
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That's an interesting thought. Why do you think this was a good time for them to do this now? How do they benefit from this timing?
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I think regulators are looking at them and at they very least having the 1:1 balance now might help things
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That's a good point, they don't want to be known as a shady scam. If they manage to regain that image of the convenient trustworthy stable coin for traders they will have a bright future ahead. Certainly now that the price of bitcoin is fluctuating again. A good way for them to kill two birds with one stone.