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3AC Collapse | Exclusive Interview With Kyle Davies | Crypto Town Hall

The Wolf Of All Streets

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The Problem With Leverage in Balance Sheet Trading

The Luna protocol adds a stable coin, and then they have this collateral coin. We only held the collateral coin, which was called Luda. And basically what happened is every balance sheet trading fund took huge hits. None of the lenders knew who was taking the hits or how big they were at various times. The layer one discounted round that we're doing are all dropping like incredibly fast relative to the market.

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