Former Circle head of trading: Tether is not the reason for pushing up the price of Bitcoin

Dan Matuszewski, a former head of trading at Circle, said in an interview that Tether's idea of ​​driving a sharp rise in the price of Bitcoin is "absolutely incorrect." Matuszewski said that as retail speculators flocked to the more popular Coinbase, there was a spread between Coinbase and Bitfinex's bitcoin price. This spread opened up arbitrage opportunities, causing many traders to mint a large amount of Tether in order to buy cheap Bitcoin on Bitfinex and then sell it on Coinbase for a higher price. This has led to a large number of Tethers, and people have raised doubts about price manipulation.