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Good morning people,
It’s been a day of banal shocks across expanded crypto-markets, today, too. For those of you who have just woken up, or sobered, news of the days is as follows:
USD Tether has downward legged, a situational event many fearsome market participants perceive as a de-peg as 3pool liquidity has dried up a lil.
You may check the health of the pool via this Parsec dashboard shared by alto aka dollar dot eth:
Market sentiment boils up into a shared state of panic, despair and chaos following the news of Financial Committee (US) hearing of Promotheum Inc. (whoever they are) for majority of market participants unanimously think that it’s a rather coordinated play between the aforementioned and the SEC.
Below is a rather intriguing share which you can access here—guys, please re-activate Twitter embeds, this feud between Twitter and Substack is childish.
People have been speculating about Michael Egorov’s debt collateralization via native CRV tokens to borrow, and better his AAVE position all day long, which caused a cascade of drama again on CT ad nauseam. I guess the best answer came from the Aavechan—that’s, it’s not the duty of state-machine maintainers to intervene into free markets:
https://governance.aave.com/t/gauntlet-recommendation-to-freeze-crv-and-set-crv-ltv-0-on-aave-v2/13644/9
Collect this post as an NFT.
