USDT premium was caused by USD inflow and not Tether Inflation, claims Chinese Bitcoin Billionaire

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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…

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