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Garrett Jin: Establishing Stable Fund Trading Platform Will Attract Capital Inflows and Drive Industry Development
Summary: In a recent announcement, crypto whale Garrett Jin, who previously sold over $4.23 billion worth of BTC to switch to ETH, pointed out a deeper issue in the crypto industry: trading platforms offering high leverage for assets lacking intrinsic value to meet user demand and increase profits. This high leverage, previously only seen in the ...
In a recent announcement, crypto whale Garrett Jin, who previously sold over $4.23 billion worth of BTC to switch to ETH, pointed out a deeper issue in the crypto industry: trading platforms offering high leverage for assets lacking intrinsic value to meet user demand and increase profits. This high leverage, previously only seen in the forex market where underlying assets have value support, low volatility, and liquidity provided by banks.
If trading platforms continue to offer extremely high leverage, they should at least establish mechanisms similar to stable funds, like those in the US stock market, to provide liquidity support during crises. Only in this way can trust be rebuilt, capital attracted back, and market healthy development promoted.
The crash on October 11 once again proved that in extreme volatility, the market greatly needs liquidity support. Being the first to establish a stable fund trading platform will not only attract capital inflows but also drive the entire industry forward.
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Link: Garrett Jin: Establishing Stable Fund Trading Platform Will Attract Capital Inflows and Drive Industry Development [Copy]
