📊 MARKET UPDATE:

Antalpha’s loan book reportedly dropped 34% in Q2 to around $1.35B, while its Aurelion gold business recorded a $22.3M fair-value loss.

The interesting part? About $21.2M of that loss was unrealized, and Antalpha says it hasn’t recorded a principal loss since inception.

Numbers like these show why separating unrealized market swings from actual capital losses matters when judging financial performance. 👀📉

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