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Can you convert those assets to Gemini's stablecoin, GUSD? Gemini is regulated as a trust company in New York State and has pass-through FDIC insurance. You should be able to sell GUSD on Gemini and wire transfer the proceeds out. Gemini claims no limits on the size of wire transfers. This is useful, because most other exchanges make large withdrawals difficult.

It's hard to convert USDT to GUSD. Coinbase does't list GUSD. Changely says they will do it for a 2% fee. Bequant has a market, but US$20,000 would wipe out their order book. Hotbit claims a deeper market but has a US$10,000/day withdrawal limit. Bitfinex has de-listed GUSD. Probably because it was too convenient a way to convert Tether to real US dollars. Gemini does not list USDT.

It's striking how difficult it is to convert large amounts of USDT to a hard currency.




What's stopping someone from doing USDT -> BTC -> USD?


Finding an BTC exchange that will reliably pay out millions of USD isn't easy. Although Gemini says no limits on wire transfers.




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