Someone started a massive sale of USDT in the 3pool Curve pool. Tether said they are ready to cash out any amount
This morning, in one of the popular 3pool Curve pools, someone started a massive sell-off of USDT, which caused concern among traders.
For example, the balances in the 3pool Curve pool were 33.33% for each stablecoin USDT, USDC and DAI. However, today the share of USDT has increased to 72%.
This means that traders were selling millions of USDT for DAI and USDC, causing the pool to become unbalanced.
Tether CTO Paolo Ardoino suggested that some traders are looking to benefit from the overall market decline. Ardoino added that Tether is ready to cash out any amount.