Weekly Roundup 06/24/22 (FTX steps in, 3AC postmortem, fraying DeFi governance) (EP.328)
On The Brink with Castle Island
What's the Biggest Problem in the Market Right Now?
A lot of the collateral that three arrows had with all their counterpart was actually g b t c. And as i described earlier, they were creating this in kind and just levering up like crazy. I don't think you've ever had a situation of this magnitude which could be so easily solved by simple approval of a spot t f,. Meanwhile, they approve an aa inverse bit coin. E, t f, so you can bet against the price of bit coin, which is just comical in the extreme.
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