Bill Hwang may be a criminal, or he may have simply been playing the Wall Street game according to a set of unwritten but accepted rules – after all, in this day and age, cheating and lying are practically qualifications for working in high finance. Crypto has the distinct advantage of transparency – Hwang couldn’t have caused as much damage if he hadn’t concealed his levels of concentration and leverage. In most cases, similar behavior by a layer 1 or other protocol would be much more visible. The question is whether traders and investors are paying enough attention to what’s right there on the blockchain to avoid a replay of Archegos, in crypto form.
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...