As someone who runs a market making bot, tether is crucial because so many pairs are denominated in tether.
I’m a small player, so it’s easy and not very expensive to borrow the tether if you don’t trust it (which I don’t), but if you are making making on a large scale is probably too expensive to borrow.
The other possibility that occurs to me is that if you need tether to succeed because you are invested in its success, you might hold large amounts to control the float.
As someone who runs a market making bot, tether is crucial because so many pairs are denominated in tether.
I’m a small player, so it’s easy and not very expensive to borrow the tether if you don’t trust it (which I don’t), but if you are making making on a large scale is probably too expensive to borrow.
The other possibility that occurs to me is that if you need tether to succeed because you are invested in its success, you might hold large amounts to control the float.
Note that there are only 4 accounts that have more than a billion tether: https://www.coincarp.com/currencies/tether/richlist/