Markets· ★★· neutral·

Machi posts $382K net loss on PaperTrade despite $394K in rewards

  • —Trading losses on PaperTrade reached $779,000
  • —USDC staking rewards totaled $394,000
  • —Only $5,682 left of the $261,000 deposited a day earlier
Why it matters: The case shows that even large traders can lose money on new venues, and token incentives do not always offset trading losses.
#USDC
Source: PANews
More on this
Markets · Oct 16
Machi's $1.41B Papertrade volume ends in $74.7K net loss
 DeFi · Oct 13
Trader loses $637K on PaperTrade, recoups part of losses via staking rewards
 Exchanges · Oct 13
IREN posts $702.6M net loss despite $4B in AI cloud contracts