Crypto exchanges also seem like a convenient place to store assets (particularly stablecoins) since in most cases they are currently not sharing any information under the CRS/AEoI @Randall7575@librehash@BennettTomlin
Mind you, this shit happens in regulated markets all the time, but absence of oversight, lack of accountability and huge numbers of retail investors with no ability to retaliate makes this an ideal way to siphon off cash.
Exchanges fraudulently liquidating derivatives either through manipulation of the underlying asset or seemingly at random is part of what keeps this racket going. Reliable source for fiat money.
Here's what happens if you short Tether. Tether will liquidate your shorts by pumping tether to $1,000 on their fraudulent co-conspirator exchanges. Probably Tommy Boy.
Oversupply of cheap money, lack of regulatory action, insane incentives to avoid cash deposits, unlimited QE support for corporate debt and disrupted industries due to Covid. Invest carefully.