Would have been nice to have those puts on Friday!
What an insane weekend it was. I was saddened to read all the posts from traders who were crushed. I also didn’t understand how Cryto.com CEO Kris Marszalek was calling for regulation afterwards. That’s not what people signed up for.
Regulators should look into the exchanges that had most liquidations in the last 24h and conduct a thorough review of fairness of practices. Any of them slowing down to a halt, effectively not allowing people to trade? Were all trades priced correctly and in line with indexes? What’s the setup for trade monitoring and AML programs? Are their internal trading teams fully Chinese-walled? $20B in liquidations, a lot of users got hurt. The job of regulatory bodies is to protect the consumers and assure market integrity.
This whole thing is going to end up the same way as the stock market did except none of it is funding startup companies.
This article was written by Adam Button at investinglive.com.
