Falling Liquidity & Unwinding Market-Makers Show That Crypto-Contagion is Far From Over
In recent months, the crypto industry has gone through some of the most difficult moments since its birth in 2009.
Behind the scenes, the secretive crypto Shadow Debt Market was severely shaken as some of the largest crypto players have woken up to the counter-party risk - a situation where nobody trusts anyone.Once celebrated, hedge fund 3AC went under in a matter of days. As they were one of the biggest borrowers in the crypto Shadow Debt Market, their collapse created a profound ripple effect throughout the crypto…