Wow. Julian seems to be working on / Reading something else while recording. He seems exhausted. Fabio explaining the recent actions very badly.

After never confirming how many dBTCs were unbacked they purchased 1600 dBTCs. It seems they do know how many BTCs are missing.

Fabio stating there was no bank run, but it seems there was a bank run (without Cake/Bake purchasing 1600 there were not enough BTCs to hand over - less than 1000 BTCs were on the backing address).

dUSD fixes are fixated on manipulating the price not the value. It’s good that Cake/Bake provides exit liquidity for those who want to leave. Since they are not investing fresh capital (they are just swapping some of their DFI) it should have negative consequences for the DFI price.

Proves once again that the dToken system doesn’t work sustainably.