2 ms·
No interest in questioning your/their sources, but $250k is an order of microbusiness’s hourly amount. It can barely even move a spread on any exchange, unless
by wruza 4y ago
No interest in questioning your/their sources, but $250k is an order of microbusiness’s hourly amount. It can barely even move a spread on any exchange, unless dropped into an order book as is*. I worked few years ago as a trading bot developer for a company of 3-5 people who traded EUR and USD stablecoins for a local currency as part of their ops. $100k amount was a lazy morning.
If an exchange worries about $250k, it’s dead in milliseconds. There must be some huge context missing in that post.
* and even in this case a book will just swallow it at the expense of a market-order side and drift back in under a second.
- rippercushions 4y agoWell, yes, that's exactly why CZ's concerns have raised so many eyebrows. But judge for yourself, here's what SBF has entered into the Congressional record: https://imageio.forbes.com/specials-images/imageserve/63981bda4d894e06ad41c303/Screenshot-2022-12-13-at-1-29-32-AM/0x0.png https://imageio.forbes.com/specials-images/imageserve/63981b... https://imageio.forbes.com/specials-images/imageserve/63981bfbb439524ded7ab5dd/Screenshot-2022-12-13-at-1-30-02-AM/0x0.png https://imageio.forbes.com/specials-images/imageserve/63981b...
- joyfylbanana 4y agoLooking through the chat, it doesn't seem to me that CZ is suspecting SBF with just this $250k trade. To me it looks like he is suspecting that SBF is doing something shady, and the $250k trade is just a tiny example of that activity. You have to intrepret this quite strongly to have the view that CZ seriously would think 250k would move the market. Additionally, CZ was right that SBF is a crook.
- wruza 4y agoThank you for the links! I still don’t get how this could be interpreted as a “deeply concerned about someone selling $250k”, when the answer is “no I don’t think 100x that size would succeed”. From this I see one guy (C Z) who’s probably concerned about a supposedly systemic action with unclear goals, and another one (blue) fooling around a specific transaction. I mean they could be deeply concerned as a person about whatever they projected about it, but it’s technically impossible with $250k which they admit right away. The way it was stated in the comment above is editorial, to say the least.
- xmcqdpt2 4y agoWow I hadn't realized they all have a group chat together. That's wild!