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It's never a whing alone, but it seems that Charles Hoskinson saw it coming and warned him about this attack vector nearly a year ago and now he's upfront analyzing the data point. All transactions are on-chain, you can't move 3Billion USDT and crush the market without leaving obvious evidence on the chain.

The ignition point seems to be the dumping of a big OTC bought USDT volume, there's no second deal that would fit.