Too Long; Didn't Read
Kraken may be furiously <a href="https://news.bitcoin.com/kraken-goes-savage-against-tether-manipulation-allegations/" target="_blank">denying</a> allegations on their involvement with the USDT price manipulation, yet that Bloomberg journalist who stirred the waters probably has some finance background to make a trustworthy conclusion and actually comprehend such fundamental trading concepts as ‘arbitrage’, ‘order book’, and ‘currency peg’. So, what were those ‘weird signals’ spotted by his curious eye? Taking a look at a snapshot of the USDT order book at Kraken, we see that there is well over $1 million dollars of resting buy and sell orders within a suspiciously very close range around a price level of $1 US dollar. As a result, USDT price alterations are very small. What argument Kraken holds for the Bloomberg ‘haters’? Well, it’s basically calling them dummies not able to grasp crypto trading basics and USDT inherent design.