Krutika Adani
Shocking revelations behind cheaper USDT prices in Mexico reveal a drug cartel connection. USDT in Mexico has gotten much cheaper, and they often trade in discounts to the USD.
This is opposite to the current global trend where USDT is often traded at a 10% to 15% premium to the US Dollar.
Cartels in Mexico have been using USDT to launder their drug revenue and dump it into local markets to redeem it for cash. This has caused an oversupply of USDT in local Mexican markets.
Cartels have been using several crypto businesses as a front to launder their cash.
Lately, the surge in the crypto markets has increased the demand for stablecoins, causing a surge in the stablecoin market cap to $200 billion at press time.