it’s misleading to think of FTT price dropping as “the thing that was life or death for them.” (Or maybe it was in a “proximate cause” kind of way, but the real problem was the reliance on FTT in the first place.)
It’s more like FTT was a quasi peg, they needed to keep it up at $>20. The fight that was life and death was keeping it that high with their resources.
Yes, I think we’re agreed.
It’s more like FTT was a quasi peg, they needed to keep it up at $>20. The fight that was life and death was keeping it that high with their resources.