Look guys, it's actually really straightforward, a bunch of people staked their ETH on the Ethereum blockchain to earn yield, except they didn't want their capital to be locked up, so they actually staked with a liquid staking protocol called Lido who provided them a liquid staking receipt token called stETH, except they decided to juice their yield further by depositing their stETH receipt tokens into a restaking protocol called Eigenlayer, except they didn't want to lock up their capital, so they actually restaked with a liquid restaking protocol called KelpDAO who provided them with a liquid restaking receipt token called rsETH, except they decided to juice their yield further by depositing their rsETH tokens into a lending protocol called Aave so that they could open a leveraged looping position that borrows ETH against the rsETH collateral and restakes the ETH into rsETH which is then deposited as collateral, except it turns out rsETH used a cross-chain bridge called LayerZero that was hacked by north koreans causing rsETH to become undercollateralized and now these looping positions are stuck and unprofitable, and everyone is pointing fingers at each other, and also DeFi is a very serious industry
@allenanalysis All the moves are just made before and after the weekend when markets are closed for the longest period of time during the week. Money makin’
@0xkp__@AdrianoFeria There is also a global leader country with a large debt, stealing oil all around the globe… and it's not Asian. Maybe this country have also QC resources to "custody" ;) Satoshi's coins.
The 20 millionth Bitcoin was mined yesterday. Now there are only one million new Bitcoins to be mined, which will take over 100 years.
Decentralized, inflation-proof, global money.