RATE Group | Former Circle Head: Tether Didn’t Manipulate Bitcoin Price, 2017 Rally Was Legit
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Former Circle Head: Tether Didn’t Manipulate Bitcoin Price, 2017 Rally Was Legit

04 Dec Former Circle Head: Tether Didn’t Manipulate Bitcoin Price, 2017 Rally Was Legit

Posted at 12:51h in Bitcoin News by

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Former Circle Head, Dan Matuszewski, now co-founder of trading firm, CMS Holdings, discusses Tether. In particular, why Tether was not the primary driving force behind 2017’s bitcoin bull run, and a declaration that Tether is one-to-one dollar-backed.

Tether Was Not The Driving Force Behind 2017 Bitcoin Bull Run

Dan Matuszewski parted ways with Circle back in August 2019. As one of the largest OTC desks, handling some $2 billion a month, Matuszewski is aptly qualified to discuss all things crypto. And in an interview with podcast On The Brink, he shares some startling insights on crypto’s most hated stablecoin, Tether.

Matuszewski opens by saying Tether does not prop up the price of Bitcoin. And nor was it directly responsible for the manic gains towards the end of 2017. Instead, he attributes this to price arbitrage, at the institutional level, between different exchanges, namely Coinbase and Bitfinex.

bitcoin tether

Price Arbitration Was The Main Factor To $20k Bitcoin

He expands on this by…

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