- Mar 21, 2013
- 24,780
- 31,549
For those not keeping track, the day began with rumors of 3AC getting margin called:
Well, whatever may be happening, one of their partners just confirmed that something is :
My take: the crypto crash was initially caused by a different stablecoin dumping on us. They crashed the prices by dumping all they had for some desperate U$.
This led to the 3AC reaction: when they saw the other guy dumping, they immediately started dumping too to cover their own margins. But it now seems it wasn't early enough to react. Prices crashed, downward spiral.
We hadn't heard from anyone at 3AC for days. Now we have.
Still no word from Kyle yet tho https://twitter.com/KyleLDavies
Now for the good news.
It seems like they already sold most coins they had. So...most damage is already factored into current prices. IF SO, then we might see a nice recovery in the coming weeks.
And for the usual disclaimers:
None of this is official info, it's just guessing based on twitter and telegram buzz. Do your own fucking research. If symptoms persist go see a fucking doctor. Cheers.
Well, whatever may be happening, one of their partners just confirmed that something is :
My take: the crypto crash was initially caused by a different stablecoin dumping on us. They crashed the prices by dumping all they had for some desperate U$.
This led to the 3AC reaction: when they saw the other guy dumping, they immediately started dumping too to cover their own margins. But it now seems it wasn't early enough to react. Prices crashed, downward spiral.
We hadn't heard from anyone at 3AC for days. Now we have.
Still no word from Kyle yet tho https://twitter.com/KyleLDavies
Now for the good news.
It seems like they already sold most coins they had. So...most damage is already factored into current prices. IF SO, then we might see a nice recovery in the coming weeks.
And for the usual disclaimers:
None of this is official info, it's just guessing based on twitter and telegram buzz. Do your own fucking research. If symptoms persist go see a fucking doctor. Cheers.
) and all is over. 
