In this episode of “The Breakdown,” NLW looks at the market structure dimension of the crypto crash, leveraging insights from Alameda Research, Willy Woo and many more. He explores:
- Why the recent bull run was driven by derivatives more than by spot trading
- How crypto moving onto exchanges signaled the big move down
- How cascading liquidations made the down moves even more extreme
- What the industry thinks about 100x leverage
- Insider reports on how institutional investors responded
CoinStack newsletter referenced in the show: https://coinstack.substack.com/
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