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Understanding the Collapse of Sam Bankman-Fried's Crypto Empire
Odd Lots
The Matching Engine, the Cross-Margining Asset
FTX has a superior matching engine and ability to cross margin assets. If you would trade on FTX, you could use your Bitcoin, you can use like dozens of other different tokens for which the price would be quite volatile. But that also means that the matching engine continuously had to keep in its mind what the price of Bitcoin is because maybe if Bitcoin falls, we'll need to liquidate this guy.
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