Who borrowed 100.000 BTC?
BitBoy Crypto is not letting go of the UST Crash and good for them, they really shouldn't!
They dopped another good video with their O-P-I-N-I-O-N!
Now we actually know about all the weaknesses of the former LUNA/USDT Algo Stablecoin connection:
The most obvious:
- "Over-lend" on Anchor
- Unstable Conversion Tokenomics
- No Death Spiral safety mechanics
- Overhyped Luna price
- Centralized Reserves in BTC dropped significantly in value
- poor crisis management
- USDT Premine with no value backing
Maybe you got some more for me? Would be cool to read them!
(I'll put a fat upvote on every additional weakness in the comments)
Still, NOW, here we go, who the hell borrowed 100k BTC? That's 0.5% of the all-time max supply of BTC in ONE TRADE?! Are you kidding me? That's a big red flag!
Nothing is proven yet, cheers.
Posted via inji.com