#UNI Tens of billions in funds flee, with run risk spreading to smaller exchanges
From 1030 to 1102, over these three days, large amounts of stablecoins were withdrawn. It was not until 1103 that fund flows reversed, turning into a net inflow of 3.3 billion. The leading platforms withstood the shock, but panic can spread along the liquidity chain, putting smaller platforms under pressure first.
I’m taking a wait-and-see approach. Whether trust can hold will depend on when platforms provide complete proof of 100% reserves. UNI’s continued failure to enable withdrawals is a warning sign hanging over the market. Until proof of reserves is put into practice, funds will continue flowing out of small and midsize exchanges.
Open the platform where you keep your assets and check its latest reserve disclosures and withdrawal status. $BTC $ETH $SOL
From 1030 to 1102, over these three days, large amounts of stablecoins were withdrawn. It was not until 1103 that fund flows reversed, turning into a net inflow of 3.3 billion. The leading platforms withstood the shock, but panic can spread along the liquidity chain, putting smaller platforms under pressure first.
I’m taking a wait-and-see approach. Whether trust can hold will depend on when platforms provide complete proof of 100% reserves. UNI’s continued failure to enable withdrawals is a warning sign hanging over the market. Until proof of reserves is put into practice, funds will continue flowing out of small and midsize exchanges.
Open the platform where you keep your assets and check its latest reserve disclosures and withdrawal status. $BTC $ETH $SOL