I woke up to the news and FUD surrounding the USDT it seems like a lot of people and traders are trapped right now as we speak. This is because people who hold USDT are terrified and are buying BTC, but holding BTC on exchanges with Tether is also very dangerous because of the huge premium. So what can they do? Withdraw and send to a fiat exchange would make them lose 10% of their capital instantly as well, because of the difference.
A friend tried tried to convert his USDT to TUSD, and what he was supposed to be getting in return is supposed to be in the ratio of 1:1,but the disparity is that of $1450 to $1185 in TUSD. A lot of losses being encountered by those who are attempting it