@dmuthuk Right now -its a step in the right direction. That is all that matters. There are quiet a few hurdles to jump for the govt. to execute this though e.g., IT department does not have a way to track individual wallets and their trades. They will have to build that infrastructure.
There were no daisy chains of collateral losses.
There was no collateral pressure.
Stablecoins remained stable.
A few exchanges went down for an hour or two. No exchange big losses occurred, no need to mutualise losses either.
No protocol failed.
No firms needed rapid funding.
Beneath the head line:
Crypto had a major, major VAR-shock test and NOTHING happened.
Leverage liquidation was offset by overcollateralisation. No one was left holding the baby.
No firm went under.
The Fed didn't need to step in.
Defi didn't break and carried on near normal
@scottmelker We have to assume that everything we read is 'paid for' - at least if someone is shilling a coin. News articles are not really news - they are paid content. Organized fud is rampant in the same manner - between two competitive coins in the same space.
@scottmelker Speaking this from personal experience. We have rate cards from about 50+ marketing firms that can do exactly this for any individual coin. Organized "fud" and organized "shill" have become inherent in crypto. 2/n
@jasric89 @twocommapauper The marketing tactics explained in this post are absolutely done at an individual coin level. Speaking with personal experience and having interacted with 50+ marketing companies who do the same.
@DIMA_HODL How do we know its not the dev team who minted more and market sold? I don't see anyone raising this question. Asking honestly. If someone can explain.
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