So USD 39.4m revenue made. Less than USD 2m used for buybacks.
There's huge questions around where the rest of funds are used for before

There's now an official page to track Lighter stats - so no more ambiguity about fees, open interest, liquidity, etc.
https://x.com/Lighter_xyz/status/2014841829816946970?s=20…

Vladimir Novakovski

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Author | Jeff Park (Chief Information Officer, Bitwise)
Compiled by Odaily Odaily(@OdailyChina)
Translator | Dingdang (@XiaMiPP)
Editor's Note: On February 5th, the cryptocurrency market experienced another sharp drop, with over $2.6 billion liquidated in 24 hours. Bitcoin briefly plummeted to $60,000, but the market seems to lack a clear consensus on the causes of this decline. Jeff Park, CIO of Bitwise, offers a new analytical framework from the perspective of options and hedging mechanisms. [...]

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It’s common knowledge that $23M of the funds were withdrawn to coinbase before tge and another $8M distributed to LLP after 10/10

I am not defending btw, the team should address this imo if they want the token to do well
Why would they need $23M in pre tge fees and they already raised $70M