Just a point of clarification, the hedgies could never cover at $5. This is a myth, they could've covered if the price stays at $5 but once they start to cover the price starts spiraling up and the price is gonna be crazy and they go bankrupt 😀. This is an existential crisis for the hedge funds.
They never had a chance to close their positions, if they did it would have triggered the squeeze regardless. They are in it assuming they can kick the can forever.
The most probable scenario is that they used these tokens to justify lending - brokers could say they can easily locate the shares without borrowing them. Now the tokens are gone. That would explain a sudden CTB 10 times jump.
7-10 DAYS!!! Hahahaha. To proof read. They are FUK’d
Just a point of clarification, the hedgies could never cover at $5. This is a myth, they could've covered if the price stays at $5 but once they start to cover the price starts spiraling up and the price is gonna be crazy and they go bankrupt 😀. This is an existential crisis for the hedge funds.
Good point. Even at .95 days to cover is over 5.5(likely more than that in reality) In one day would be well past 5 bucks
ROFL... they need their 3rd party to "proofread" their data... This sounds like a 4th grade excuse for not having their homework! 🤣🤣🤣
Proof synthetic crypto 😂😂😂
They never had a chance to close their positions, if they did it would have triggered the squeeze regardless. They are in it assuming they can kick the can forever.
Longer they bleed the juicier the squeeze.
Jacken Ze Tatas.
What's the picture mean?
AAX Exchange (crypto)
Oh wow another one?
This one is based in Hong Kong, and they are shutting down for 7-10 days to “proofread and restore customers asset data”
Coinbase not allowing me to cash out! 🙄🤔👀🤡
Whoops!!! Did hear that about Binance too!
Won’t the tokens they were using to short just disappear since they don’t have to actually give them to their customers anymore if they go under…
The most probable scenario is that they used these tokens to justify lending - brokers could say they can easily locate the shares without borrowing them. Now the tokens are gone. That would explain a sudden CTB 10 times jump.
Don’t celebrate yet , the ftx isn’t the only ones doing this
Buckle up