I think they mean margin debt here. There is no way strike, ledn etc are doing that kind of volume on Bitcoin backed loans. 

grayruby

It had been too long since a bunch of high time preference dummies got rekt. 

Undisciplined

> Do they mean exchanges/derivatives trading or, like, Strike and Ledn...?

I don’t think the exchanges/derivatives are included in this one.

0xbitcoiner

those are pretty good, moral, valuable use cases!

After all this time, the narrative on tradfi is still exactly the same, quite amazing actually that no-one is even softening up to the idea of Bitcoin. The same old stories over and over

![](https://m.stacker.news/118404)

heh, reminds me of this *meme*

https://x.com/chooserich/status/1989370152664830208?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1989370152664830208%7Ctwgr%5Efd22c426b7c91d0a05060282df2b36101f57d8f5%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fstacker.news%2Fitems%2F1285344

SimpleStacker

The rally in crypto prices this year was boosted by a large heap of debt, with traders using leverage to amplify their gains. Now, after a punishing selloff in the past two weeks, the dangers of those bets are becoming apparent.

Bitcoin’s recent crash has also pulled down the shares of crypto-treasury companies. For much of the year, these companies sold stock or borrowed money to plow the proceeds into bitcoin, ether and other cryptocurrencies.

outstanding loans from centralized crypto lenders and decentralized lending platforms

 ballooned to a record high around $74 billion at the end of September, exceeding the previous record of $69 billion set in the fourth quarter of 2021, according to research from Galaxy Digital.

Do they mean exchanges/derivatives trading or, like, Strike and Ledn...?

https://archive.md/4o37d

econ

Ah, yes, I know the amplification -- _I do the amplification every day!_

![](https://m.stacker.news/118392)

> The rally in crypto prices this year was boosted by a large heap of debt, with traders using leverage to amplify their gains. Now, after a punishing selloff in the past two weeks, the dangers of those bets are becoming apparent.

> Bitcoin’s recent crash has also pulled down the shares of crypto-treasury companies. For much of the year, these companies sold stock or borrowed money to plow the proceeds into bitcoin, ether and other cryptocurrencies.

OOPS?!

Ok, fine; I admit to ~kind of~ ~often~ maybe do this

![](https://m.stacker.news/118395)


...and _this_ bit is a little scary: 
> The dollar-denominated value of **outstanding loans from centralized crypto lenders and decentralized lending platforms** ballooned to a record high around $74 billion at the end of September, exceeding the previous record of $69 billion set in the fourth quarter of 2021, according to research from Galaxy Digital. 

Do they mean exchanges/derivatives trading or, like, Strike and Ledn...?


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archive = https://archive.md/4o37d