Big asset movements between Crypto.com and Gate just in time for a proof of reserves disclosure[2]
CEO trying increasingly hard to convince everyone not to panic
Can't blame these people, really.
1: https://www.coindesk.com/markets/2022/11/11/cryptocom-prelim...
2: https://twitter.com/shegenerates/status/1591645956767883264
If 20% of depositor funds are SHIB then 20% of reserves should be SHIB.
I wouldnt pay $10,000 a turd, but that is my value judgement, if someone else does then their problem.
Potentially destabilising is what I said. In a similar fashion to how 20% of my diet consisting of Taco Bell would carry a greater destabilising potential than a the same share of FDA recommended diet conforming home-cooked meals would.
> If 20% of depositor funds are SHIB then 20% of reserves should be SHIB.
You're the one bringing this up, not me. Not refuting it though.