Lol as always the yield comes from the marketing budget subsidy and the suckers who are late to the party, If they time it right, it can suck up a lot of liquidity, especially the bull run these things can live way longer than they should as fewer people are withdrawing than depositing
Its going to be interesting to see how far this leverage play goes before it implodes and at what scale?
At its peak Luna was 40 billion, FTX was valued at 40 billion, if you factor in UST, Celsius and BlockFi thats easily 100 bn in paper wealth and leverage that was erased in a month
TheBitcoinManual
npub10m…kn8mj
2024-09-15 08:50:02
in reply to nevent1q…6gmn
Author Public Key
npub10mxnle348mzv2dnj0ylgz3zu9gceenc29x9fr4m6mnars66j7vxsnkn8mjPublished at
2024-09-15 08:50:02Event JSON
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