JPMorgan Chase is the largest/most valuable bank in the world by market cap.
Right out of the bat, JLTXX vault (denominated in USDC) is $700M, making J.P. Morgan the fifth-largest curator, bypassing @TelosConsilium and @upshift_fi.
Vaulted strategy invests in U.S. Treasury bills, bonds and overnight repurchase agreements.
@jpmorgan runs its vaults on its proprietary protocol from its Kinexys blockchain division (formerly known as Onyx). The vault runs on Ethereum and is denominated in USDC. Before, Kinexys was developing permissioned blockchains.
J. P. Morgan's CEO, Jamie Dimon, is also known as a major antagonist of stablecoins, DeFi, crypto, and blockchain, and has not missed a chance to bash them. How the tables have turned.
J.P. Morgan's vaults: tradingstrategy.ai/trading-view/v… - check for our technical details on the vault, strategy tearsheet and smart contract information.
2/ We have spent most of the year building infrastructure.
It is not easy to do algorithmic trading on DeFi, as we are early, and a lot of infrastructure one takes for granted in TradFi and centralised exchanges simply does not exist yet.
3/ We also strive for pure decentralisation. All data should come from on-chain and not centralised software-as-a-service vendors.
2/ We have put together a report that gives an overview the usage and opportunities of one of the world most used and loved programming languages in the blockchain developer ecosystem.
- Projects
- Opportunities for devs
- New developments in 2023
3/ The 2022 cryptocurrency market was very turbulent, with the fiascos of FTX, Terra and 3AC. This somewhat reflects to the underlying technology development, but as we will find out not as bad one would expect.
Yesterday #DeFi markets had an irregular day, as the famous trader @avi_eisen, known for very profitable trades, opened a massive $63M short for $CRV Curve token on @AaveAave.
It did not go well. Keep reading.
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2/ Shorting and longing using Aave loans is normal in trading. However, what marks this event special, is that the size of the Avi's position ($63M) was oversized to the relatively illiquid $CRV market.
3/ Aave is an over-collateralised lending platform. For taking a short position, you deposit US dollars (USDC) and take out $CRV. Then sell $CRV to USDC, deposit it to Aave, rinse and repeat.
1/ HOW BAD IS THE HOLE FTX HAS DUG ITSELF INTO AND HOW DID THIS HAPPEN?
There are no public facts, only rumours. We can make guesses about how a billion dollar money making machine can fail.
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2/ It seems that FTX.com (not FTX.US) might have borrowed their user assets to Alameda, against their terms of service. Unless this is a misleading paragraph IANAL.
3/ The rumoured hole in the balance sheet of Alameda is $3B - $15B. Currently, there are no public facts on this.