Bitfinex is levering ETH to maintain the Tether peg. Surely this is another coincidence at yet another exchange right? Formatted for readability in body of post.

https://x.com/0xmev/status/1591686620037758976

This single wallet has done well over 100 million of volume over the past 4 days... in a single direction

USDC -> USDT


Last time this wallet displayed this behavior, Tether was struggling in the wake of 3AC

Bitfinex has supplied over 300,000 ETH - in the past 3 days alone - to a hot wallet labeled "Maple Finance" on nansen_ai

The hot wallet swaps borrowed USDC for USDT in private transactions

![](/images/16683562421088357.webp)

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Crypto is the "defund the police" of right*ids and equally hilarious.

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No it's different because with crypto already rich people steal the life savings of the average Joe instead of sneakily stealing the average Joe's taxes!!!!

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Some differences of course, it's just the same principle of denouncing any intervention of a state actor deemed necessary by most people and then having it explode spectacularly in their faces :marseydicklet:

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