Former top 20 on FTX š | not investment advice/not selling anything | just market commentary and shitposts
Nov 13, 2022 ā¢ 15 tweets ā¢ 4 min read
The more I think about it, the more it seems like Alameda's relationship with the FTX risk/liquidation engine is at the heart of this debacle.
A brief, highly speculative thread on what might have gone wrong š§µš
One of the distinctive features of FTX was their liquidation engine. During rapid market movements, they "internalized" liquidated positions rather than simply dumping them on the market.
As we stand on the precipice of $40k and gaze into the abyss, it's important to think about what qualities might help different coins survive a true bear market. One such factor, which I believe is generally under-appreciated, is what I call "narrative flexibility". (1/???)
Narrative flexibility is simply the potential for a coin to fit multiple narratives - to not be pigeonholed into a single category. If we think of coins like startups, narrative flexibility is analogous to a startup's ability to pivot to different business models.
Oct 8, 2021 ā¢ 11 tweets ā¢ 2 min read
1/ Since the Bloomberg Tether article is getting a lot of coverage yesterday and today, I wanted to make a quick thread giving my perspective on the topic as a crypto trader...
2/ Every few months, we have a fresh news cycle featuring a variety of sordid revelations about Tether and its operators. Most of this content is always old news, but a few new pieces of info come out every cycle.
