Weekly Roundup 06/24/22 (FTX steps in, 3AC postmortem, fraying DeFi governance) (EP.328)
On The Brink with Castle Island
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Those Are Some Bad Bets, and They're Going to Jail, or Worse.
This isn't justo they blew up on leverage. It's not even an arcago style situation. I thought it was like that at first, but a clear that theyere not who who we thought they were. They used their reputations to borrow at favorable rates and then put on extremely, extremely risky trades. And in the process, they constructed, effectively a pansy, which then took down half the industry. As things were dying out, as clear that they were insolvent, under water and they were blowing up, they a, tried to effectively amass even more deposits under false pretences with this bogus a, you know, jebdc arb trade,. That
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