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RE: Who broke the crypto market and BTC - Mark Dow is who!
Seems like a stupid idea to open up crypto to futures/derivatives trading, it allows for market manipulation by people with no personal stake in the game. If exchanges adhere to banking rules they can trade while holding only 10% of the actual asset. Geez, no idea why that could ever go wrong when the trade only exists in the books of an exchange.
That is exactly what was allowed to happen, and they knew how it would go from the off.