BlockFi sues Sam Bankman-Fried
JUST IN: BlockFi sues Sam Bankman-Fried to seize his $575 million stake in Robinhood, Financial Times reports.
— Watcher.Guru (@WatcherGuru) November 28, 2022
Against all odds, Fidelity opens retail Bitcoin and crypto trading accounts
$273k crypto have been deposited into FTX/FTX US in the past 7 days
For whatever reason, ~$273k worth of tokens have been deposited into FTX/FTX US in the past 7 days pic.twitter.com/f4p3cWyAau
— Nansen Intern 🧭 (@nansen_intern) November 29, 2022
— Nansen Intern 🧭 (@nansen_intern) November 29, 2022
Solana’s Phantom wallet to expand to Ethereum
Phantom, the largest wallet on Solana, says it will expand to Ethereum and Polygon. It claims its main strengths are its 24-hour support team and its ability to manage NFTs. Prior to this, Phantom completed a $109m financing led by Paradigm before, with a valuation of $1.2b.
— Wu Blockchain (@WuBlockchain) November 29, 2022
— Wu Blockchain (@WuBlockchain) November 29, 2022
Nexo is a Hedge Fund pretending to be a bank
1) Nexo is a Hedge Fund pretending to be a bank 👀
— HappyHippo ~ low fees high APY yield optimizer (@HappyHippoDefi) November 29, 2022
🚩 🚩 🚩
Follow this 🧵 as we dissect their claims and uncover its real risk
@Thefiverse @eli5_Defi @mikeburgersburg @hellspawncrypto @Nouriel @otteroooo
More.. pic.twitter.com/huNTX24Yl1
2) While Reverse Cash-and-Carry Arbitrages are delta neutral, they are NOT risk free
— HappyHippo ~ low fees high APY yield optimizer (@HappyHippoDefi) November 29, 2022
They are vulnerable to change in volatility of the underlying and thus the cost of carry, which in this case is the funding rate for the short spot position.https://t.co/SuMusmmkN0
3) Price arbitrage between 2 exchanges is called market making,
— HappyHippo ~ low fees high APY yield optimizer (@HappyHippoDefi) November 29, 2022
The stuff that Genesis, Jump and Alameda used to do
Two of the three example above are insolvent, while Jump mostly do deals where they get paid to market make
Nexo’s quants r world best ?😏https://t.co/3mp0WsP1m4
4) This is what Alameda was doing at FTX
— HappyHippo ~ low fees high APY yield optimizer (@HappyHippoDefi) November 29, 2022
With all the advantages of peeking at order flow and stop hunting other Hedge Funds, their liquidation engine still ended up with billions of illiquid collateral https://t.co/cBvnHhL76K
5) Nexo real time “audit” is
— HappyHippo ~ low fees high APY yield optimizer (@HappyHippoDefi) November 29, 2022
“AGREED UPON PROCEDURES REPORT”
Performed by Armanino by simply querying Nexo’s API
Equivalent to
Armanino : “Nexo, you good?"
Nexo: "We good brah, trust us!”https://t.co/R9omXN589k pic.twitter.com/WiDjfR8im5
Fantom has ~$340m worth of assets in their treasury
Andre Cronje’s article yesterday revealed some key information.
— Miles Deutscher (@milesdeutscher) November 29, 2022
• Fantom has ~$340m worth of assets in their treasury
• 30 years runway
• Turned down “further cooperation from Alameda”
Also the reason $FTM never got a Coinbase listing..
My thoughts: https://t.co/jPPMfMpwdp pic.twitter.com/5oO7ePZYqG
