and blackrock. Anybody care to explain?
Can't post a link here, but word is that BlackRock borrowed 100k BTC via Gemini, and they bought a large chunk of UST from Do Kwon OTC (over the counter). They reached out to him and told him they wanted to buy a big amount of UST for like 25k BTC but they didn't want to manipulate the market. He sold them the UST with a big discount. Afterwards they dumped around 75k BTC on the market, pushing BTC price down and then they dumped the UST so it would lose peg. Before doing so they shorted, and now they can buy back the BTC from the market super cheap, which they borrowed before and keep the difference. Talking about billions here
Yes, that was straight criminal behaviour and expected from those bastards.
This is not the truth. Stop spreading bs all over the media, they even confirmed that this is just rumours. U guys are really wrong minded, everything u hear you will believe. There is no ones faulth but the team behind luna. And this arrogant do kwon.
There is a thread on twitter explaining this same scenario a whale can do to do this and expose Luna tokenomics and make a ton of money. I guess Blackrock read it.
Isn’t it Citidel that borrowed the 100k btc?
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