55% of all Tether, $25B, were created in 2021

https://news.ycombinator.com/item?id=26842986

Supply and demand, why? Some demand comes from retail, who wants to convert their crypto or USD into it, other demand comes from a exchanges, of course, and yet another from whoever it was for whatever they want. Of course, on a retail side the meme "1 usdt = 1 USD" will "hold", because it is a meme "social contract" in which normies believe. However, on the exchange and crooks side there could be almost arbitrary arrangements, including bulk discounts, long term loans, etc.

This is what lack of transparency is for.

We could easily argue that comparable amount has been used by retail, because the whole Ponzi is to sell to them. They always pay a full price plus fees.

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