PiggyBank’s LAB hedge backfires as USDC vault NAV drops 15%
PiggyBank’s LAB hedge backfires as USDC vault NAV drops 15%
PiggyBank closed the LAB short after volatility and negative funding breached its internal risk limits.The USDC vault faces a 15% drawdown, while SPYx and JitoSOL show smaller reported declines.ZachXBT questioned using depositor funds for LAB after earlier allegations around its token distribution structure.