X @Andy

There’s all sorts of numbers being thrown around now.$400M for one fund, speculation on another market maker blowing up. Binance already paid nearly $300M back today.There will be more losses paid out and funds winding down. The big names like Wintermute and Paradigm likely took big hits but will survive.Over $20B in leveraged positions were liquidated in the last 72 hours, mostly longs.This isn’t just retail panic.It’s big desks and structured funds are getting forced out. The classic cascade when you borr ...