BrandonrG

Eth 2.22.21 WHy i think Kraken was to blame for everything today

BrandonrG Updated   
KRAKEN:ETHUSD   Ethereum
So if anyone was watching like i was this morning, Ada went down to 15 cents and ether hit 600 dollar level on Kraken Exchange. Now why does this sound familiar? Well if you remember in March of 2020 we had a huge liquidation event that i believe was all on Bitmex. Today we saw a similiar event happen on Kraken where liquidation crisis happened and orders were set off in a huge plunge that threatened the entire crypto economy. Kraken does not admit any wrong doing and thinks its ok to have such an event where prices completely decouple from the market and plunge 85 percent. THIS IS VERY DANGEROUS TO THE ENTIRE ECOSYSTEM. Much like Bitmex, Kraken's liquidation event created an insanty of Arbitrage and at one point it looked like they killed the system just as Bitmex did. Exchanges have too much power and influence over the markets and we need to have safeguards in place that prevent this. No not circuit breakers exactly but some way to prevent these events from happening as this is not just a normal dump. I would suggest not using Kraken for any serious trading except maybe attempting to buy these dumps or HODL. Even then i would not trust an exchange that does not admit any wrong doing and leaves its customers seriously hurt. I hope no one was hurt and if you were i would like to hear about it. I know there may be a lawsuit being filed if you were
Comment:
not that i give a shit about hedge funds but one was completely wiped off the face of this earth. 400 million dollar account gone in the blink of an eye.

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