Bruce KleinmanJust me, or does this sound AWFULLY familiar?
“Two days later, UST’s stunning freefall began, and Wintermute unleashed its arbitrage strategy. Due to Terra’s design and the coin’s cratering price, Wintermute could buy UST for $0.80 and redeem it for $1.00 worth of luna, its sister cryptocurrency.”
https://www.forbes.com/sites/jeffkauflin/2022/12/20/with-sam-bankman-frieds-hedge-fund-gone-crypto-trading-firm-wintermute-emerges/?sh=f45188d2bbbc
Note to Forbes: STOP THE HERO WORSHIP, they ran the same trade as Alameda Research... and you can't even recognize that, FFS. 🤦♂️
With Sam Bankman-Fried's Hedge Fund Gone, Crypto Trading Firm Wintermute Emerges
By deftly navigating crypto’s frontier markets and winning big on the collapse of Terra’s stable coin, Wintermute has grown into one of the world’s leading crypto trading firms. Now it must navigate a market littered with carcasses and landmines.