Trader takes $4M short position on TrueUSD as issuer halts mints and redemptions

by Aurelia Butler 24 June 2023, 09:00 159 Views

According to on-chain data, an Ethereum user utilized Aave’s v2 lending platform to deposit 7.5 million USD Coin (USDC) as collateral. They then borrowed 4 million TUSD and promptly sold it for USDC. This strategy of borrowing and immediately selling is frequently employed to establish a short position on a particular asset.

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Source: Cryptocurrency - investing.com

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Trader takes $4M short position on TrueUSD as issuer halts mints and redemptions

ECB’s Makhlouf undecided about rate rise beyond July

Vietnam to extend VAT cut until year-end to prop up slowing economy

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