‘Most difficult day in the history of digital credit’: Strive CEO says leverage liquidation drove STRC and SATA selloff
The Block·
60-second summary
STRC and SATA, digital credit instruments, plummet on Thursday, with Strive CEO describing it as the "most difficult day in the history of digital credit." The instruments, designed to trade near a $100 par value, fell significantly, with exact numbers not specified, before partially recovering, causing market volatility and highlighting the risks associated with digital credit. Market sentiment remains cautious.
STRC and SATA, designed to trade near a $100 par value, fell significantly on Thursday before partially recovering.