Bitcoin ticked past $26.8K, rising nearly 2% over the past 24 hours, although an analyst said that the largest crypto by market cap 'looks vulnerable.' TheSamReynolds writes
also told the FT. “[The exchange] does not rely on proprietary trading as a source of revenue”.
Without having an internal market maker, it simply wouldn’t be profitable – or even perhaps possible – to list smaller cap tokens and expect a market to form around them. There just won’t be enough activity to quickly match buyers and sellers, making the bid depth unappealing to traders. Some exchanges instead choose to allow external market makers to operate on their platform. Bullish, for instance, uses B2C2,Operating internal market makers raises lots of possibilities for allegations of conflict of interest. Alameda was an investor in many of the tokens it traded as a market maker.Of course, this isn’t a great look for the industry. But it’s just how it works. So many r
in the same way – it's just how the industry works. DeFi’s automated market makers perhaps are a better option, as they are algorithmic and open source, but even these can be accused of bias.really lied to outside parties, as the FT claims, about its market-making operations, then that’s a story. But as it stands, and as it said in its rebuttals to the FT’s questions, it’s just doing what everyone else does. Poor optics, yes, but welcome to crypto.
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