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SBF

@SBF_FTX

Aug 15, 2021

1) Alright guys it's time to talk about @HuobiGlobal! twitter.com/HuobiGlobal/st

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SBF

@SBF_FTX

Aug 15, 2021

2) But as it turns out, Huobi reports 2x their futures volume: they report both the buy and sell side of each trade. So if 1 BTC future traded, they'd report about $90,000 worth of volume. (C'mon!) Their *spot* volume, on the other hand, *doesn't* double-count.

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SBF

@SBF_FTX

3) The revenue etc. are the same (reading from July). But the volume was actually closer to $15B/day, and the take rate was actually closer to 0.025%. And Huobi's % of market volume is closer to 15% than 25%.

1:17 PM · Aug 15, 2021Twitter Web App

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That still make $500m nonetheless

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Is this reflected on the FTX volume monitor?

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yup

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can we get some more ftt burn and pumpamentals please :)

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this take rate seems to be lower than the average fee rate of industry peers, unless we are assuming that most of their volume is coming from whales trading at a huge discount