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The recent cryptocurrency market crash is a testament to its ecosystem s reliability, according to Raoul Pal, CEO of Global Macro Investor, a global macro advisory publication.
What Happened: Pal noted in a Tuesday Twitter thread that the cryptocurrency market crashed by 42% in 14 days, wiping out $1.02trn in value in an orgy of liquidation of people up to 100 x levered, with very low regulation. Many tokens fell up to 70%, including unregulated lending and borrowing biz.
He highlighted that all of that caused no damage to the crypto ecosystem. Crypto had a major, major VAR-shock test and NOTHING happened, Pal noted.
What Else: Pal pointed out that leverage liquidation was offset by over collateralization, no firm went under, the Federal Reserve did not need to step in and decentralized finance protocols carried their activity on near-normally.
Karita Mattila, 60, julkaisi rohkean seuranhakuilmoituksen iltalehti.fi - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from iltalehti.fi Daily Mail and Mail on Sunday newspapers.
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A top Trump campaign fundraiser rebuked Republican Georgia Rep. Marjorie Taylor Greene for making yet another Holocaust comparison, equating COVID-19 restrictions with the Nazi persecution of Jews.
“WTF is wrong with you? I think you need to pay a visit to the US Holocaust Museum. I’d be happy to arrange,” Jeff Miller wrote in a Tuesday Twitter post. Miller is also a member of the U.S. Holocaust Memorial Museum Council.
WTF is wrong with you? I think you need to pay a visit to the US Holocaust Museum.I’d be happy to arrange.Then maybe going forward you wouldn’t make anymore disgusting, ignorant and offensive tweets.If I’m wrong and you’re not ignorant about Holocaust..then you are disgusting. https://t.co/mJNCcSgWpM (((Jeff Miller))) (@JeffMillerCA2TX) May 25, 2021
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