Want to create an interactive transcript for this episode?
Podcast: Unchained
Episode: Bits + Bips: Crypto Had Its Reset. Will It Go to New Highs Now?
Description: Crypto just went through its biggest crash.
In the wake of “Black Friday,” when $19 billion in positions were wiped out in hours, Bits + Bips hosts Steve Ehrlich and Ram Ahluwalia are joined by Carlos Guzman of GSR and YQ of AltLayer to dissect what really happened.
Was it a coordinated attack exploiting Binance’s oracles? A failure of market structure? Or simply too much leverage waiting for a trigger? Or some combination of the three? The group breaks down how liquidity vanished, why hedges failed, how this flash crash echoed the worst moments of traditional market...