In brief
- Market makers Wintermute and LO:TECH momentarily stopped trading amid last week’s $19 billion liquidation cascade.
- The pause came because their predefined trading rules were broken and they were forced to regroup, the market makers said.
- Wintermute told Decrypt that if the firm can “make markets in a safe, delta neutral way,” it will—but it couldn’t at the time.
Prominent market maker Wintermute told Decrypt that it stopped trading amid last week’s flash crash, which resulted in over $19 billion in crypto liquidations as the prices of Bitcoin and other assets plunged following President Trump’s latest tariffs threat against China.
But it didn’t stand down so it could make more money, as some social media users speculated, the company says. The market maker stopped trading because its internal rules were broken amid the markets meltdown, Wintermute Desk Strategist Jasper De Mae
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Author: Ryan Gladwin
