FED study finds 3 shocks that lead to the demise of Crypto Shadow Banks. The collapse of the TerraUSD stablecoin. Celsius and Voyager Digital saw outflows of 20% and 14% of funds, over 11 days. The failure of 3AC, because of the collapse of TerraUSD. At Genesis and BlockFi, customers withdrew about 21% and 12% of their funds.
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Anton Golub
@antongolub
Market maker & exchange operator. 9 years in industry. I write about crypto shadow banking, market making & liquidity.
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This story contains new, firsthand information uncovered by the writer.