During a hearing in the U.S. Bankruptcy Court for the Southern District of New York on Thursday, a Kirkland & Ellis lawyer said the loans were mistakenly believed to be in dollar-pegged stablecoins, which the lender wouldn’t have been able to use to finance its operations.
Juiced USDS Yields Woo Solana Traders to Sky’s Stablecoin
The heady growth is about as preordained as anything could be in DeFi. Sky is spending $2 million a month...