[puranjay]

This is massive honestly. They were likely $18B. And by most accounts, they were almost entirely trading their own capital.

They were well liked and respected in the industry, having built up their fortunes trading over the years.

A little like Ray Dalio being on the run.

[randomhodler84]

Not that big and not all their own capital. It’s the treasury management and VC investment in new projects that could be of concern.

[TaylorGood]

^ this. Feels like this shoe really hasn't dropped yet, just mentioned on Twitter in a thread or two. Overall this is the most shaken I've been in the crypto space in a long time; this last week or two. The unwinding of giant firms is behavior of degens, not institutions. Add bear already + macro economic / political issues, and crypto thus far has blown it proving "drought tolerant" to the world around it. I'm still long on blockchain, but right now doesn't feel so great.

[puranjay]

well the other shoe started dropping today :)