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Crypto Thesis for 2023 | Ryan Selkis

Bankless

CHAPTER

Crypto Credit Crisis Unpacked

This chapter explores the 2022 crypto credit crisis affecting the CeFi sector, focusing on Grayscale's GBTC trade and its market distortions. It highlights the consequences of leveraged trading by entities like Three Arrows Capital and BlockFi, as well as external influences like the Luna collapse.

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