Short Selling
Silvergate CEO calls out ‘short sellers’ spreading misinformation
Silvergate Capital CEO Alan Lane has slammed “short sellers” and “other opportunists” for spreading misinformation over the last few weeks — just to score themselves a quick buck. In a Dec. 5 public letter, Lane said there was “plenty of speculation – and misinformation” being spread by these parties to “capitalize on market uncertainty” caused in part to FTX’s catastrophic collapse in November. His crypto-focused bank was recently forced to deny one of these so-called FUD (fear, uncertainty and doubt) campaigns last week when there was speculation that the firm was exposed to the bankrupt crypto lender BlockFi. Lane also used the latest letter to the public as an “opportunity to set the record straight” about its investment relationship with FTX, as well as the company’s “robust ris...
Neutrino Dollar breaks peg, falls to $0.82 amid WAVES price ‘manipulation’ accusations
Neutrino Dollar (USDN), a stablecoin issued through Waves-backed Neutrino protocol, lost its U.S. dollar-peg on April 4 amid speculations that it could become “insolvent” in the future. USDN plunges 15% despite WAVES backing USDN dropped to as low as $0.822 on Monday with its market capitalization also diving to $824.25 million, down 14% from its year-to-date high of $960.25 million. Interestingly, the stablecoin’s plunge occurred despite Neutrino’s claims of backing its $1-peg via what’s called “over collateral,” i.e., when the total value of Waves (WAVES) tokens locked inside its smart contract is higher than the total USDN minted, also called the “backing ratio.” Neutrino Dollar price performance in the last 24 hours. Source: Co...
