Solana/Wormhole need to come up with 120,000 ETH to restore the 'pegging'. There's a good chance they're not going to say where the 120,000 ETH is coming from. 1. Undisclosed loan from crypto exchanges with customers Ethereum. 2. Crash the price of ETH to reduce costs.
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I think banking services for drw and jump are decent to go from stable to fiat . But that obviously changes during stresses this might be the first cycle when stables fail but until it happens tough to convince anyone . This is highest risk musical chairs.
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Yeah that’s a reasonable worry.
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(I should have said 1-3 months of revenue for FTX above, not 1-3 months of profit)
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lol Mr Cephalopod, you are talking to a guy that's been bearish on crypto since 2017. He has no fucking clue.
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