Exchanges· ★★★· bearish·

Papertrade Trader Losses Hit $32.4 Million Two Days After Launch

  • —Trader losses on Papertrade hit $32.4 million in two days
  • —The protocol's house pool holds roughly $4.27 million
  • —Daily revenue exceeded that of Pump.fun and Hyperliquid
Why it matters: Mounting losses at the new venue deepen scrutiny of Papertrade's model after manipulation allegations and a sharp drop in open interest.
Source: The Defiant
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