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Alexander Osipovich Profile picture
Alexander Osipovich
@aosipovich
Reporter covering exchanges, HFT and market structure, and occasionally crypto, at The Wall Street Journal
Apr 10, 2024 • 18 tweets • 7 min read
What we learned about Jump in the Terraform Labs trial

1/ Secretive HFT giant Jump Trading was a big backer of Do Kwon’s Terra/Luna project. Exhibits released by @SECGov show that Kwon formed a tight relationship with this guy: Jump Crypto president Kanav Kariya Image 2/ In chats with Do Kwon made public by @SECGov, Kanav insisted they communicate via Signal, saying Jump was pushing for it. “Compliance feels much mor comfortable here with the disappearing chats,” Kanav said. (BTW it doesn’t seem he actually set his chats to disappear)
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May 9, 2023 • 9 tweets • 4 min read
In honor of the one-year anniversary of the UST depeg, this paper from NBER is worth a read. A thread (1/9) nber.org/papers/w31160 Image One key insight is that in a crypto bank run (like with Anchor Protocol) on-chain transparency offers real-time transparency into other people's withdrawals, creating a self-perpetuating cycle. Imagine if you banked at SVB and got alerts when other clients yanked their cash (2/9) Image