Part 1 Advanced The Market Maker’s Exchange Checklist (Liquidity, Latency, and Risk Controls) Market makers and HFT desks: evaluate exchanges on execution quality, liquidity, latency, fees, margin, and security — with a WhiteBIT walkthrough. Open guide Exchanges News
Updates and insights on centralized and decentralized exchanges, liquidity, and innovation.
Coinbase’s $70B Bitcoin move made it look like investors were selling — but no one actually did
Bitcoin traders often treat old-coin movement as a sign that long-term holders are waking up. Coinbase’s $69.5 billion BTC migration suggests that signal may be less reliable than it looks.

E.U. moves further in its crypto regulation
The TOFR rules introduces mandatory KYC rules for crypto-asset service providers. E.U. lawmakers say TOFR will end the "unregulated crypto wild west."

Nansen report reveals Terra caused the stETH depeg and crippled Celsius, 3AC
A new report by Nansen walks through the events that led to 3AC and Celsius exiting their stETH positions amid the collapse of Terra and the unwrapping of 600K bETH.





















