Did we ever find out who took out the $20 million dollar short on chainlink? Was it actually Simeon? I can't even imagine how the fuck someone ever thought it would be a good idea to put such a retardedly huge sum of on the line on fucking chainlink of all things. Even weirder is how it managed to get liquidated in the first place. I remember watching the the trade history tab on goybase and watching link rapidly rising in price from like $9.50 to $11.28 and then rocketing past all the way up to the point it liquidated the same short AGAIN. How the fuck does that even happen on no news? I'm not convinced it was purely retail that pushed up the price to $11.28 and suspect that there was some big money that wanted to see whoever took that short out to get fucked.
Now that the dust is settled
Wasn't it Zeus Capital?
buy for 7 sel for 16
Yeah that's the thing, I remember that tweet they put out saying that they had unlimited resources to "spread the truth" about chainlink. I thought the whole paper they wrote was just lifted from the fud that always gets posted by oldfags here to keep the price down. I honestly thought it was just an elaborate troll by some Zig Forumsraeli, but seeing someone put an 8 figure short on a fucking crypto has me wondering what was really going on.
But who though?
>no name llp comes out with report
>nobody refutes the report content, just call it fud
>social media calling for buyers to liquidate zeus short positions
>price then zooms to liquidate the positions
it was all theatre
Didn't that fail though? I remember some retard posted a thread when LINK was trading for like $8.50 (although I could be wrong) to pump the price to liquidate Simeon at a certain time, but that failed miserably only to then actually happen like 3 days later.
>theatre
as opposed to a pump on no news?
I'm not crazy for thinking this was suspicious as fuck am I?
no you're right, it was a pump on no news, normies do NOT have enough capital to cause that liquidation, so either this was all theatre to give and "excuse" for a pump caused by bullish insiders or some whale(s) wanted to fuck with zeus for giggles, if the latter were true i would have expected us to drop back to 7-8 $ by now, but idk mang
I mean out of all the partnerships/affiliations that chainlink has, the only one I can think of that has that much money is literally google, and maybe some of the insurance firms that Sergey mentioned he was working with prior to starting development. Has Zeus Capital stopped posting? I really feel like they were just a scapegoat.
users will probably get grants, whereas speculators have to buy, that's not to say that there aren't speculators among users, also speculation isn't a dirty word
cointelegraph.com
forbes.com
I never found out, but did Sergey just give the chinese the tokens? Do you think it was just some bored CCP official?
the incentive wallets don't indicate large grants being moved, though i don't expect that will be the case for long
It could unironically be a way for a whale to secure a position without fucking with liquidity on exchanges
I am no genius and only tentatively understand what an oracle does or even is...
But from my base understanding for smart contracts particularly defi smart contracts aren't oracles used to supply prices?
And aren't shorts on Aave a type fo defi smart contract?
and aren't chainlink oracles used by Aave to supply price data for their smart contracts?
>pic related
What about when coinbase disabled all LINK purchases and withdrawals became abnormally slow?
Instead of refuting the Zeus report someone decided to take it personal and get revenge. This definitely deserves more discussion.
didn't the market cap increase by billions of dollars?
Does anyone have proof confirming that during the massive short squeeze that all LINK purchases on coinbase were coming from a binance wallet? I remember an user mention that in a thread at the time, but never bothered to check.
Or how about how all the LINK dumps since keep happening during chinese hours
damn a lot of retards ITT
Nexo has been giving 5% interest rate on their website for LINK
meanwhile their BTC interest rate is 3%
They take 1% as their fee.
When LINK pumped hard against BTC, they were in the red. so they created the Zeus report to short it to cover their losses. So technically, they've been short since about $5, not $8 like they suggested.
They added to their positions and still got rekt.
Btw there's nothing to "refute" about the report, it's all Zig Forums fud from 2017-2018. Hell in their latest report, they posted some Zig Forums screenshots that probably hurt simeon's feelings.
TL;DR: gypsies got rekt, just like all the ones who tried to defy Sergey before them.
I'm sure they won't be the last.
yeah, it was kinda obvious once you considered the fact that he was related to the Organovo reports and Twitter shill fake accounts came to defend Nexo etc. The telegram of Nexo is also severely moderated and you get banned for questioning shit.
I think there are some questionable shady things about the whole thing, but Occam's razor and all that.
also the recent shorts were speculated to be from both Zeus and also whales trying to accumulate without fucking with slippage in another thread a few days back.
But why did it pump so hard in the first place?
also for those thinking that is was some Zig Forums 4d chess thing I highly doubt it
this was essentially the excuse Nexo team was pushing (muh we got framed), and Zig Forums was the perfect fall guy for such an excuse.
The truth is that it isnt impossible for Simeon and frens to be retarded Zig Forums users that shitpost in the mean time... and I believe someone once speculated the new Astro/UncleOldfag was some Eastern European shitposter
>whales trying to accumulate without fucking with slippage
how does that work? cut a deal for counterparty to borrow LINK and market sell into your buys?
go to google trends and search for chainlink, worldwide and see last 5 years and last 90 days. There you will find your answer
And ye, it was retail. Im starting to shill it to friends and famoly now that is confirmed that (((they))) want link as the backbone of the 4th industrial revolution
i got no idea man,
i did do research into the whole thing. Simeon's story was entirely suspicious, damage control was off the charts, Nexo's business model is unironically sloppy (just see their promised dividends vs actual payout)
Could there be something else going on? I don't doubt it, but speculation like this tends to muddy the water if anything else.
>Astro/UncleOldfag was some Eastern European shitposter
yeah, he also posted about the report claiming it was him but could be shitposting for all we know
>Be whale
>Get $6M worth of Link from AAVE
>Put $8M worth of collateral
>Let the links sit in a wallet
>Wait for liquidation or provoque It
>Liquidation happens
>Disregard worthless collateral, get huge amount of Links with little slippage
>When you get liquidated, you are forced to buy the amount of link you had betted against, for the market price LINK is at when you get liquidated.
That means that they end up "having" to buy whatever amount of LINK their bet was for, with LINK supplied by private wallets that decide to supply LINK for the liquidation.
This way, they can get multiple millions worth of LINK at once, without having to market-buy and accidentally causing a pump in the process, on top of getting to buy all of that LINK for a single pre-selected price, instead of the price going up the more they try to buy it.
This was what I remembered they wrote on the thread.
Someone brought up a very intriguing conspiracy, regarding a massive Link purchase but not wanting to set off the market. Getting liquidated on a short means you’re buying a fuck ton of link at a certain price. Much more reliable than market buying a few mil worth? Maybe. Idk my schizo brain wasn’t all there but it was a interesting take.
the tone of the report was identical to uncleoldfag
Damn so Simeon is actually a genius??
Hmmmmmmm....This is an interesting turn of events....great thread
my personal take was that there were lots of things going on at the same time, namely
>institutions supressing LINK
>some whales doing some 200iq move via shorts on AAVE to accumulate LINK
>Simeon and Nexo being forced into shorting LINK and publishing report due to price appreciation and their business model
I dont see it as a grand connected high iq conspiracy, just that it was an entirely chaotic time with many different players moving in their own goals, which just led to LINK mooning
Lol before they disabled purchases it was stuck at 11.78 for a while, I bought 1k even though that was still kind of high but it was already 13.50 on binance so I went for it. Sold it back to them later that day at 14.20, free money
That's fucking spooky.
I don't think it was Simeon. How the fuck are the Chinese running those 125 nodes they set up last month?
warosu.org/biz/20574673
I actually think that Simeon and frens were forced to play their hand, you can refer to this thread mane.
This is the first time I'm reading about the whale intentional liquidation shit and it makes a lot of sense but I don't think it was Simeon and Nexo who did that. They were just trying to not go bankrupt
>they can get multiple millions worth of LINK at once
>getting to buy all of that LINK for a single pre-selected price, instead of the price going up the more they try to buy it.
i may be misunderstanding something but i have 2 issues with this
1) doesn't the LINK purchased via liquidation go directly back to the debt pool? it's not like the shorter gets to keep those LINK
2)it doesn't make sense to buy at liquidation to "avoid causing huge upward slippage" if to cause the liquidation large upwards slippage needs to happen anyway!
nvm, i think i get it, very strange
I might just be a retard, but that doesn't go directly to a thread, fren
yeah i fucked up fren,
try this one
warosu.org/biz/thread/20574673
It could have been Framework Ventures that pomped it to liquidate. AFAIK they have a very sizeable LINK stack and the shorts liq price was public knowledge...
VCs having a bit of fun, making some money, and throwing us a bone all at once?
That it's mostly concentrated in the world's financial capitals?