Bitcoin [BTC] recently led a significant bull run which pumped up the price by 15% in valuation. After the hike, the price of USDT was over 7 yuan on over-the-counter platforms, which meant crypto traders based out of China had to pay an additional 3 percent to 5 percent for Tether [USDT] to avoid a ban on crypto trading. Zhao Dong, Chinese Bitcoin Billionaire, and an early Bitcoin adopter was outraged with the USDT premium and took it up to Weibo [Chinese equivalent of Twitter] to explain that the premium charge was due to USD capital flow, instead of the assumption that Tether was inflating USDT to hike the price. ... (full story)