Ok in an industry that has had the most crime season to tap all crime seasons, this MYX thing takes the cake. $200M in Open Interest stuck on binance alone paying negative funding- A random token without Any Tier 1 or even Tier2 listings, trading at 10 Billion FDV. Binance gets tens of millions in fees today by having this thing listed and trading 9b volume, but their customers are getting rinsed of way more. Similar tho bit smaller on other Exchanges like Bybit. Perps are fundamentally unsound when spot liquidity isnt there. I keep repeating this and now they find out the hard way. Question is what do they do about it. Will they listen or repeat the mouthbreather's line of 'Dont cry in the casino'? If there internal MMs arent hit Im guessing business as usual. They delist this at some point and it just gets run on the next token.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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