Sisyphus says Drift raised over $50M to build code that lost $220M, pointing at Hyperliquid; Flood claims Drift was never truly decentralized and used a Binance account to B-book trades.
Drift raised more than $50 million to build code that lost $220 million of other people's money. Hyperliquid
Calling Drift a "decentralized exchange" was always funny to me.
They used a Binance account much like Variational to just B-Book all the client trades and hedge it out on Binance Perps.
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