Express

This Trader Grabs $150,000 on Saddle Finance Via Synthetic BTC Swap Transactions

Mary Liu

Summary: One trader makes an arbitrage of $150,000 through synthetic Bitcoin swap transactions on Saddle Finance, a decentralized financial platform that focuses on exchanging pegged digital assets, according to the data from Etherscan. The user used 0.34 sBTC (Synthetix's Bitcoin-pegged token) in exchange for 4.36 WBTC (BitGo's Bitcoin-pegged token) and obtained a return of nearly 13 times. Saddle Finance ...

One trader makes an arbitrage of $150,000 through synthetic Bitcoin swap transactions on Saddle Finance, a decentralized financial platform that focuses on exchanging pegged digital assets, according to the data from Etherscan.

The user used 0.34 sBTC (Synthetix's Bitcoin-pegged token) in exchange for 4.36 WBTC (BitGo's Bitcoin-pegged token) and obtained a return of nearly 13 times.

Saddle Finance is supported by many well-known venture funds, such as Framework Ventures, Polychain Capital, Dragonfly Capital, Coinbase Ventures, Alameda Research, etc.

By Mary Liu

  • Will Introduction of the Stablecoin Act Trigger a Financial Tsunami? 11 hours ago
  • Trump Just Opened the Floodgates: What Happens When $9 Trillion in Retirement Money Hit... 3 days ago
  • US Crypto Stash Shock: Marshals' Low BTC Count Fuels 'Secret Sale' Debate, Ignites Buyb... 4 days ago
  • Mini Altcoin Season Brewing? Old Guard's Rally Signals Potential Shift 6 days ago
  • New All-Time High for BTC: Weekly Market Outlook & Strategy 7 days ago
  • You need to login to comment.