FTX Contagion Spreads as Australian Hedge Fund Defaults

The video discusses the spread of the FTX implosion into decentralized finance (DeFi). Initially, DeFi was relatively unaffected due to its structure, which relies on smart contracts and user control over assets. However, the impact is now visible in lending protocols, specifically involving a Sydney-based hedge fund, Orthogonal Trading, which defaulted on a $36 million debt to M11, a sister company of Maple. Although the transaction size is small, it highlights the spreading influence of the FTX collapse.

What has been the impact of the FTX implosion on decentralized finance (DeFi)?

How does the structure of the decentralized finance industry contribute to its resilience?

What recent developments have been observed in decentralized exchanges?

Can you explain the situation involving the hedge fund and the lending protocol mentioned?

What does the $36 million transaction reveal about the broader context of the contagion from FTX?