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The worst week in crypto history... so far.
Many Happy Returns
The Magic Box of Yield Farming
The story of Alameda is quite interesting because what it actually started out as, it seems, is a market maker for FTX. It was there to offer liquidity on the exchange and to profit from the spread effectively. But then it seems to have got greedy and started taking huge directional bets. And that's hugely more Britke than just market making.
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Listen to the best highlights from the podcasts you love and dive into the full episode