Breaking down crypto's biggest ever liquidation event with Wintermute founder Evgeny Gaevoy
Quick Take Wintermute founder and CEO Evgeny Gaevoy unpacks the recent historic crypto crash, explaining how leverage, exchange failures, and forced ADL liquidations played a role in recent market chaos and liquidity breakdowns across the ecosystem.
Episode 6 of The Big Brain Podcast, hosted by The Block's President Larry Cermak and MegaETH CSO Namik Muduroglu, was recorded with Wintermute founder and CEO Evgeny Gaevoy.
Listen below, and subscribe to The Big Brain Podcast on YouTube , Apple , Spotify or wherever you listen to podcasts.
In this episode of the Big Brain Podcast, Larry and Namik are joined by Wintermute Founder and CEO Evgeny Gaevoy to discuss the recent historic crypto crash, explaining how extreme leverage, exchange failures, and forced ADL liquidations led to market chaos and liquidity breakdowns across the ecosystem.
OUTLINE
00:00 Introduction
00:45 What Happened?
04:46 Understanding ADL
12:25 Transparency and Privacy on Hyperliquid
16:35 Circuit Breakers
19:16 Occam’s Razor
21:25 Assessing the Damage
25:24 Lessons learned
28:39 Looking Ahead
30:21 A Maturing Market
32:13 Dealing with Extreme Volatility
35:19 Impact on DeFi
37:28 Wintermute as the Crypto Villain
41:47 What else does Wintermute do?
44:11 Conclusion
GUEST LINKS
This episode of the Big Brain Podcast is brought to you by our sponsor, Canton Network .
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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