/biz/ - Business & Finance

[Anonymous No.49804159]

so this whole crash was caused by CEX's leverage trading against each other, right?

[Anonymous No.49804202]

>>49804159
And they owning money to each other at retarded levels. The most degenerates are getting whale hunted slowly but surely all are going down.

[Anonymous No.49804240]

>>49804159
Luna created enormous amounts of contagion through most the crypto ecosystem, so now there's billions in bad debt that needs to go. Yes, there's too much leverage to.

[Anonymous No.49804250]

>>49804202
this is bullish for DEX's, right?

[Anonymous No.49804294]

>>49804250

this is bullish for defi and dex

[Anonymous No.49804301]

>>49804159
yup, they basically all went 100x long and short multiple times a day and paid the fee with fake money and eventually they got margin called
exchanges were also dumping their fee reserves on traders at the same time and cashing out to pay their server costs and villas

[Anonymous No.49804332]

>>49804301

how do we profit off this?

[Anonymous No.49804369]

>>49804332
Thats the thing.You dont.

[Anonymous No.49804576]

>>49804159
this right here >>49804240

rumor is that celsius for example would sell their user deposits for ETH, put it on Lido to get bETH, borrow UST against their bETH, and deposit UST on Anchor to get that degen yield. whenever someone wanted to withdraw, they'd just service it with their fractional reserve and replenish their reserve as needed. But then Terra goes belly up, and Celsius has to pull their bETH off Anchor. This left them with loads of stETH they can't sell because the Curve pool has already been drained by other people escaping the fallout. So they're stuck with an illiquid token they can't cash out to service user withdrawals, which put everything else on their platform in jeopardy as users lost confidence. meanwhile they start getting squeezed on their leveraged positions that they have to dump reserves to protect

[Anonymous No.49804622]

So everything is liquidated and we're going to crab below 20k forever?

[Anonymous No.49804636]

>>49804159
basically.
there is a dark world of crypto lending that very few people are privy to. There are basically no rules and it sometimes comes down to handshake agreements.

[Anonymous No.49804726]

>>49804622
20k? that would be generous. if big boys got burned they won't ever come back, probably.

[Anonymous No.49804754]

>>49804726
>if big boys got burned they won't ever come back
Good. Fuck ((the big boys)).

[Anonymous No.49804777]

>>49804159
This is retail doing a giant fucking margin call on the “exchanges” and “platform” and they’re falling like dominos

[Anonymous No.49804778]

>>49804159
We'll find out in the Big Short 2: Electric Boogaloo.

[Anonymous No.49804864]

>>49804622
sir, it's 18k right now

[Anonymous No.49804926]

>>49804777
Are Goybase and Binance going to collapse and steal their users shekels?

[Anonymous No.49804942]

>>49804926
Binance is last thing that will collapse out of everything. Coinbase well maybe

[Anonymous No.49804952]

>>49804926
Who the fuck is keeping coins on an exchange right now lmao normalfags are so stupid everyone should run for the door

[Anonymous No.49804967]

>>49804777
checked.

people don't know just how much volatility is *caused* by leverage. CEX's could have really fucked up and found out. this could be HUGE.

[Anonymous No.49805007]

>>49804952
All I want is 1K at 5 Dollars a pop. That's it. Hoping to get it and send to ledger before they go under. What time frame are we thinking?

[Anonymous No.49805014]

>>49804754
You need big boys for ponzi schemes, unless u expect the broke 4 fig niggas on this board to prop it up. No didn't think so.

Its over, get it?

[Anonymous No.49805307]

>>49804726
>>49804754
>>49805014
you guys know the 'big boys' must be getting got by even bigger boys, right? big fish eat small fish. that's how it goes.