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TechFlow news, elindinga, Research Director at 21.co, the parent company of 21Shares, said that Alameda borrowed and shorted USDT on Aave (hence the high APY of USDT) and sold USDT on Curve to obtain USDC.Original link
21Shares' parent company 21.co research director Elindinga said that Alameda shorted USDT by borrowing it on Aave (resulting in a high USDT APY) and then sold the USDT for USDC on Curve.
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