While this is a completely understandable move, it's still a bittersweet moment. You shall be missed.https://twitter.com/SBF_Alameda/status/1419263712225988620 …
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We've come a long way since the days of Mex when Average Leverage used to be in the ~25-30x range.https://twitter.com/SBF_FTX/status/1419263710569267200 …
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Mfw "slide the leverage bar all the way to the right" means 20x.pic.twitter.com/CuiFtYPKZ1
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Also would greatly appreciate it if exchanges just dropped updates without needing to preface it with some faux justification thread. We get it, regulation is inevitable, don't hit us with the "12 reasons why this is actually good"
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I miss my ambulance man
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With crypto becoming less and less volatile by the hour we’ll soon be cheering for 1% gains like the boys on Wallstreet kek
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tbh this has nothing to do with being responsible or caring about customers financial well-being. but, it has everything to do with appearing more responsible to potential partners, to regulating bodies, etc. not that i use high lev. just saying.
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"bittersweet moment", true, but maybe we should also feel lucky/grateful to have had the opportunity to somehow make the most of it while it was still possible?
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It's fairly likely this shift (albeit real) is less a result of changing behavior and more a result of apples to oranges. These "average leverage" statistics can mean either average per position or average per dollar of position. 1/2
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So if 3 people use 1x leverage for 1mm each and 1 guy uses 97x leverage for a 3mm position: we have ~3mm collateralizing 6mm in positions = 2x leverage. We also can average (1+1+1+97)/4 = 25x leverage. Would guess a shift that drastic is more of this form than users maturing. 2/2
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