Cjay

Crypto Investor since #IRC & Spreadsheet Trading around 2013. Got rugged multiple times. Passionated #StableCoin #Trader rooting for #USDC

[Cjay @Crypt0rTM]

@seeksahib @coinstronauts super overseasoned also ... Taco Bell in Thailand is the worst. Then better KFC lol

[Cjay @Crypt0rTM]

This space becomes a joke lately.

I mean not that I would use a protocol that is called Piggybank (red flag already lol) but they decided to play a bit #FTX , invest some customer money and loose it 😅😂😂😂

-15% on your USDC. Dingdong.

[PiggyBank @piggybank_fi]

Dear Community,

- One month ago, PiggyBank got into a new position for $100k (~2% of the portfolio at the time), as part of the strategy’s scope of deploying into mid-cap basis trades.

- The strategy involved purchasing locked $LAB tokens at a significant discount through a Tier-1 OTC desk and hedging that exposure through perpetual shorts. During the holding period, $LAB experienced violent manipulation, including chaotic price movements on thin liquidity, and deeply negative funding rates.

- Maintaining the hedge became economically irrational and would have caused us to cross our risk thresholds. We therefore decided to close our short to cap the downside.

- In accounting terms, the total value of our $LAB locked position is $1.35m at current prices. However, due to the illiquid nature of this position, Piggybank is excluding it from the NAV until the first unlock on August 14. Even though this is an evolving situation that could still generate substantial returns, this is the fairest and most transparent way to let users manage their liquidity.

- Accordingly, today’s NAV will show a ~15% drawdown on the USDC vault, ~12% on SPYx and ~9% on JitoSOL.

- A detailed report will be published next week with next steps.

[Cjay @Crypt0rTM]

@FabianoSolana @zachxbt With all due respect didn't you also promote putting your xStocks tokens into Piggybank? Or was it someone else?

~12% on SPYx. , lol

Don't take it personally, but I warned under these "lending" promotions for weeks now, where people get encouraged to lend their xstocks

[Cjay @Crypt0rTM]

@SolanaSensei Same 🙌

[Cjay @Crypt0rTM]

It's always hard to buy when BTC dumps like this but the opportunity worked so far 3 times for me ... it's not my first rodeo.

Once you got through FTX, Luna, MTGOX and Covid Crash you know that it's time to slowly accumulate $BTC gain when everyone is overbearish.

[Cjay @Crypt0rTM]

Be careful people tend to get extremely bearish on $BTC after these kind of moves. The Fear is big right now and people tend to panic and throw everything at $BTC at the same time to make it look bad.

[Cjay @Crypt0rTM]

These drops give you opportunities. We hit the 200SMA weekly and we either bounce here or we have some months below that line most probably. But in the end of the year everyone could fomo back into $BTC and buy higher.

Again normal Bearmarket blues here ...

[Cjay @Crypt0rTM]

@DrexTo100x @Cbb0fe yep 😅 and once profits flow again they love everything again.

[Cjay @Crypt0rTM]

@Ju1ianKang why not just wait it out? STRC imploding is unlikely. If that happens BTC is anyways at 20k$ or less

[Cjay @Crypt0rTM]

@degenairline @benjamincowen That's a good question imo .. could the drop be -70% like other bear markets or could it stay near the 200 SMA weekly (where we are now)

[Cjay @Crypt0rTM]

@mikeneder @CoinDesk few know 🙌 but most will fomo in BTC again at 100k

[Cjay @Crypt0rTM]

It's funny to see all the comments today about $BTC

When BTC was at 120k everyone called for 1 million$ and future of finance 😂🤣🤣

When $BTC now drops to it 200MA weekly everyone calls it hot garbage and it dies.

Can't make this up. Selling at one and buying at the other :)

[Cjay @Crypt0rTM]

@apyx_fi Agree people overreact like crazy and have LUNA PTSD 😅 but RIP to all Loopers.

[Cjay @Crypt0rTM]

@themoe @withmewtwo Yeah I agree stay away 😂 if everyone comes here the city would suck.

[Cjay @Crypt0rTM]

@Million_Sancet @swiftwishes my limit order at 5.90 Euro got also executed. Lets see how often I have to DCA in 2026 into it 😅😂 first time ever buying a stock with a Limit order hahahha

Sorry I come from Crypto I have 0 stock experience with these banking apps.

[Cjay @Crypt0rTM]

@Jacoob_shi @aleabitoreddit will be interesting to see if this one performs well over months

[Cjay @Crypt0rTM]

@aleabitoreddit I like buying European players some will grow a lot and Europe will hopefully push them to be relevant …

[Cjay @Crypt0rTM]

@Albert_TheVoid would be cool if you could make a summary post on promising stocks for this year that didn't move like crazy yet 😅 bet you have a lot of new followers like me who don't want to scroll through tousand posts

[Cjay @Crypt0rTM]

@DeeZe haha same but I keep my $LIT long open, someday we will be 2$+ again hopefully. Still one of my conviction plays

[Cjay @Crypt0rTM]

@valerioshi no but crypto is down only and stocks is up only at the moment haha