[thwd]

This! Nobody that uses Tether wants it to be more or less than exactly 1 USD. Its value (its utility, its function) is to equal 1 USD. Anyone placing an order way above or below 1 USD can expect it to never fille and even if it did, the market would correct immediately because it is in the interest of the majority to be tethered to the dollar.

[talltimtom]

True, someone trying to cash out a large amount of tether well below 1$ can expect the deal to go unfulfilled while washtrades around 1$ continue.

[MoBattah]

.....not exactly.

Most exchanges use NBBO-like mechanisms.

"National Best Bid and Offer (NBBO) is a regulation by the United States Securities and Exchange Commission that requires brokers to execute customer trades at the best available ask price when buying securities, and the best available bid price when selling securities."

So even if you wanted to sell your Tether for $0.50 each, it'll execute at ~$1.