The banking rails are clogged at the moment. Creates pricing and mark to market issues for all types of assets based on players selling what they can, not what they want to.
Discussion
The same Luna / DCG induced crunch has now bled over to TradFi.
Now we have multiple base money assets with piping clogs and systemic failures across both rails and different types of investors > Public, private, sound, unsound.
Not to mention the differing mix of liquidity profiles and the challenges that creates.
Same story… over, and over, and over again…
Wrong link. Here’s the right one: https://open.substack.com/pub/kanemcgukin/p/time-money-and-people-change-liquidity?utm_source=direct&r=99ex&utm_campaign=post&utm_medium=web
Cc #[2]
Thanks #[2]