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The co-founder of Multicoin invested $10 million in DeFi leverage.
Mars Finance reports that, according to Arkham monitoring, Kyle Samani, co-founder of Multicoin, transferred PRIME with a total value of $10,000,000 in a loop into Kamino Finance and used it as collateral to borrow $8,600,000 worth of USDC. He earns an annualized return of 39.4% when paying in USDC, but an annualized return of 56.4% from PRIME. Kyle Samani is a veteran user of Solana DeFi.