Richard Johnson | Source | Founder & CEO at Texture Capital

So if most Bitfinex traders are holding Tether instead of USD, then this represents the premium they need to pay. Another way of looking at it, is that holders of Tether have taken a 5 percent haircut on their so-called stable coin.

I think it’s a good addition to the market, as buyside traders consistently tell us that finding small/midcap liquidity is one of their biggest challenges.

Be tech-savvy, be client-savvy or be data-savvy. In other words, learn to work with the tech.