Loracle Faces $3.35 Million Unrealized Loss on PONS and CASHCAT Short Positions

According to Lookonchain, Loracle has incurred approximately $3.35 million in unrealized losses from 3x leveraged short positions on PONS and CASHCAT. The firm shorted 17.26 million PONS with a position value of $11.6 million, resulting in a $2.38 million loss, and 22.5 million CASHCAT with a position value of $6.18 million, resulting in a $970,000 loss as prices surged on Robinhood.