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wmf
on Dec 2, 2022
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Alameda took 1B hit in mobileCoin trade to prop up...
They could calculate margin based on the liquidation value of collateral given the current state of the order book instead of mark-to-market value but I don't know if they did that.
HDThoreaun
on Dec 2, 2022
[–]
But the entire order book could be wash trades that disappear as soon as the loan is made
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