18 June 2022
In trading, the term liquidity often points to how easily an asset can be bought or sold. Market makers are liquidity providers, so think of it this way: Assume trader A wants to buy one bitcoin. The CEX (centralized exchange) overseeing that trade uses an automated system to find a seller, trader B, who is […]
17 June 2022
This column explores cryptocurrency markets from the perspective of a somewhat-grizzled trading veteran with a quantitative background and perhaps too much experience doing derivatives janitorial work. Finance is an old industry with a long history of everything from productive innovation to cartoonish fraud. Here we take a grand skeptical tour of a new corner of that world, […]
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