Just a tangential story. A few years ago I became convinced that there would be a collapse in the crypto space triggered by the insolvency of Tether. I was loo

Just a tangential story. A few years ago I became convinced that there would be a collapse in the crypto space triggered by the insolvency of Tether. I was looking into ways to build a short position. I could only find three means that were legally available to me in the US (at the time at least); trading CME Bitcoin futures, shorting relevant equities (eg publicly traded Bitcoin miners), and trading options on LedgerX (which was purchased by FTX). I couldn't trade futures or short stocks, because I couldn't handle infinite downside risk. So that only left put options at LedgerX. LedgerX was supposed to be fully collateralized, and so should have had all my funds on hand even in the event of a contagion in the crypto market. But I could never shake the feeling in my gut that they'd get wiped out with everyone else. I let the idea go. Entire years passed and now the market is falling apart. Part of me wishes I'd been short somehow of course, but I know I couldn't have remained solvent this long.