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How can they face 0 losses if they’re the lender? Is that a typo?
Collateralized position - they can liquidate the collateral to recover the money but it locks in Babel's losses
Wonder what the collateral is… and what liquidating it will do…
Indeed.
funny things happen when the underlying collateral keeps nuking in market price.
More sell pressure incoming….
They already froze withdrawals. lol they just raised 80 mil funding last months before the crypto poopourri, this has to be the quickest loss I've seen
and genesis supposedly taking a half billion on the chinhttps://twitter.com/cobie/status/1537884160005550083?t=oyME1qEmeT45HFJT-K3SGQ&s=19 …
What happens when the collateral is illiquid and the price falls faster than needed to recover the money?
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