What $UST’s defenders don’t understand about finance: Markets have no morality. They have no mercy, but also no malice. The “attack” was nothing personal. DavidZMorris writes for this week’s 'Money Reimagined' newsletter.
Read more: David Z. Morris -To draw the most obvious parallel to the Terra collapse, billionaire investor George Soros didn’t attack the English pound in 1992 because he hated the United Kingdom. That certainly might have been how he felt, I have no idea, but it doesn’t matter. Because it still wouldn’t have had anything to do with his assessment of the financial condition of the pound, the profit potential of shorting it and his likelihood of victory.
from the play. You don’t have to hate crypto, Terra, or Do Kwon personally to pursue that kind of money.Jump Trading was estimated to have spent defending the UST peg, according to The Block’s research director, Igor Igamberdiev .
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