Jesse Powell on Twitter: "@cameronsoran @tayvano_ Seems like another example of a smarter guy reading the contract and executing the code. How do you define "manipulation"? Goes to show why robust indices and oracle selection are important. If everybody knows A⊃B and A costs X to control, people shouldn't bet more than A on B." / Twitter

This one showed up on my feed (as I follow

) and I have one potentially boring legal question: Given how oracle works, how is this not a felony commodities manipulation per 18 USC 1348? (Assuming you can explain it to an AUSA, of course.)

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Julien Bouteloup - bneiluj.eth

@bneiluj

· Feb 15, 2020

~353k net profit using 'Sophisticated' arb on Fulcrum @bzxHQ 1.he took $2.7M Flash loan.@dydxprotocol 10kETH 2.put 5.5k ETH @compoundfinance, borrowed 112 WBTC 3.short WBTC on bzx #sETHwBTC5x 4.dumped 112 wBTC on #KyberUniswap to trigger short(oasis?) 5.Paid back loan 6.profit twitter.com/OokiTrade/stat…

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Seems like another example of a smarter guy reading the contract and executing the code. How do you define "manipulation"? Goes to show why robust indices and oracle selection are important. If everybody knows A⊃B and A costs X to control, people shouldn't bet more than A on B.

4:08 AM · Feb 17, 2020Twitter Web App

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True. A lot of the guys at Enron made a similar argument. But maybe I wouldn't bet the farm on it.

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