Hedge funds & Prime brokers that blew up in 2008/09 often did cos of cross collateralisation (fund A borrowing on basis of fund B’s better collateral). Adds huge contagion risk when A or B wants to/has to deleverage. Hard lesson learnt and web3 will learn it similarly this time
Hedge funds & Prime brokers that blew up in 2008/09 often did cos of cross collateralisation (fund A borrowing on basis of fund B’s better collateral). Adds huge contagion risk when A or B wants to/has to deleverage. Hard lesson learnt and web3 will learn it similarly this time
How the eff did ppl get so leveraged.
This is crypto!
We go down 30% and it's called a Tuesday.
We got funds and crypto banks acting like they learned finance on TikTok.
What did you guys expect would happen?
Two days overdue, Lil Nouns are ready to go Live! 💜
Tuesday, May 10th - 7pm PST ✨
In the meantime, why not make Lil Nouns off-chain at https://t.co/LbXchKFpLn 👀
Def a recent phenom of current attention economy that #fintwit / #CT think bear markets last a couple weeks / already talking ‘V shape recovery’ etc etc. Bear markets historically take years to resolve