$WLFI borrowed $75M in real stablecoins using their own token as collateral Sound familiar? FTX did the same thing with FTT Alameda posted FTT, borrowed billions, controlled both sides WLFI now controls 50%+ of the entire Dolomite protocol And the USD1 pool is 93% utilized meaning barely any liquidity left for anyone else to withdraw The borrower and the infrastructure are connected Same circle on both sides It’s not illegal until it collapses Then everyone calls it fraud We’ve seen this movie before We know how it ends
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