Aerodrome is coming to @Arc Arc is a stablecoin-native ecosystem developed by @Circle, built to bring real-world economic activity onchain. Aerodrome will be there, standing up critical FX infrastructure.

everyone's reading this backwards imo. selling 0.004% of your btc isn't distress, it's bullish for cost of capital. the model only works if the pref guys trust the dividends get paid. saylor selling his sacred btc to fund them is the strongest signal he could send that they will he spent 32 coins to protect a funding machine worth billions

On one hand, they only sold 0.004% (literally) of their btc so it's pretty histrionic framing to say "U-Turn" and "remain solvent" but on other hand why bother selling such an insignificant amt knowing full well the media/haters will go wild with histrionics and TD dances?

Absolutely going to to happen!! #aero

Only one question: who’s the exit liquidity?

Curve's founder pulled $100 MILLION out of his own token to buy two Australian mansions and left holders with a token that dumped 98% In 2023 Curve Finance founder Michael Egorov took out $100 million in stablecoin loans across Aave, Frax, Inverse, Abracadabra and other protocols His collateral was 427 million CRV, which was 47% of the circulating supply of his own token Lookonchain traced $31 million in stablecoins flowing from Egorov to Bitfinex in April 2023 One month later his wife bought a $41 million mansion in Melbourne, right next door to the $18 million home they had purchased the year before That's $59 million in Australian real estate funded by loans against the token his own community was holding In July 2023 Curve was hacked for $70 million through a Vyper bug, CRV crashed and his positions almost got liquidated A liquidation would have created tens of millions in bad debt across Aave, Frax and other protocols and triggered a DeFi wide catastrophe To avoid this Egorov sold 106 million CRV in OTC deals at $0.40 per token, well below the market price, to a roster that included Justin Sun, convicted felon Michael Patryn, Jeffrey Huang, DWF Labs and several anonymous wallets He raised $42 million in stablecoins from these deals while community holders watched CRV dump In April 2024 he had to do it again, selling another 159 million CRV in OTC to 33 different buyers for $63 million In June 2024 CRV crashed 24% in 3 hours and he got fully liquidated for $140 million across 5 protocols The liquidation created $10 million of bad debt that the community had to absorb Ethereum developer Eric Conner did the math: "He got 100 million in stables out of a 140 million CRV position. He just transferred the rektage to the community instead" Egorov's response was that he was "committed to building Curve more than ever" thanks to veTokenomics, meaning he locked his remaining CRV to keep control of governance CRV is down 98% from its all time high and Egorov still owns the two mansions and the protocol When the founder of your protocol uses your bag as collateral for his mansion, you're not an investor You're his ATM