[dropnerd]

i think what they're trying to say is that these firms just look like traditional trading firms, not like defi. opaque backroom billion dollar handshakes go wrong, contagion spreads, ltcm/2008 style.

main difference- there's no government bailout coming.

[kayamon]

There'll be a bailout. They don't let the rich folks go poor.

[dropnerd]

there might be some corporate firesales, but what makes you think any government is going to backstop the crypto market to prevent contagion?