What Crypto Market Makers Actually Do
How crypto market makers work: spreads, inventory risk, retainer versus loan-and-option deals, and why the contract structure…
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46 articles published
How crypto market makers work: spreads, inventory risk, retainer versus loan-and-option deals, and why the contract structure…
What actually happens in a crypto exchange listing: the review process, what exchanges assess, listing fees, and why…
How Bitcoin and Ethereum differ in protocol governance: change processes, client diversity, upgrade cadence and the trade-offs…
Why on-chain metrics mislead: addresses are not users, volume is not economic activity, and the clustering assumptions behind…
What proof of reserves actually demonstrates: assets versus liabilities, Merkle tree inclusion, the omitted-liability problem and…
How crypto custody works: omnibus versus segregated accounts, qualified custodians, multi-party computation, and what actually…
How DeFi oracles work and where they break: spot price manipulation, TWAP trade-offs, staleness, and why liquidity depth is the…
Where NFTs are doing real work after the speculative wave: ticketing, credentials, creator royalties and the cases where they…
How DAO treasuries actually work: native-token concentration, runway measured properly, the reflexivity problem, and the signals…
Why stablecoin risk lives in the redemption path rather than the peg: access tiers, minimum sizes, settlement timing and…