Conversation

2) This was the largest market move in years in crypto; coins were down 20-30%. Volumes also hit record highs.

3) During this time, one of FTX’s databases got overloaded. This caused significant orderbook lag, and we had to ratelimit/throttle orders to keep it functioning.

4) The risk engine worked as intended. There were no clawbacks or ADLs; the BLPs + insurance fund handled everything.

5) There were no incorrect wicks on FTX, but there were moves that lagged because of the database issue.

6) As of writing ETH is down 26%, ETHBULL is down 75%, and ETHBEAR is up 80%; this is all as expected, with the LTs slightly outperforming because of the momentum.