I agree anything crypto-related needs an analysis of what happens in a 99% drop. That is because even Bitcoin crashed 70%+ quite a few times since inception. A

I agree anything crypto-related needs an analysis of what happens in a 99% drop. That is because even Bitcoin crashed 70%+ quite a few times since inception. As such, leverage is reckless. An exchange should not have been exposed to price fluctuations. Only to trading volume (if the fees are proportional to the amount exchanged).