BitMEX

I wasn't really trading back then.

And so for me, I really kind of got my like introduction through pain like everybody else like you know on BitMEX back in the day on perps and getting liquidated and everything options for me is actually quite new though I didn't really trade options very much until pretty much the end of last year beginning of this year and so that's kind of when I stumbled upon Derive as one of the best place or pretty much the only place really to trade options on chain and so that's kind of what everybody's been watching because I started chilling Derive back then when it was trading at like four cents it was like a 50 million dollar market cap and I thought that was ridiculous for like the only real place to trade options on chain so yeah

It's funny, like, can you show me how you trade the derive and the derive? Like, just walk through that trade? Because, I don't know, it's funny that the hottest trade right now in a perps meta, I suppose, all anyone's talking about is perps, and then all of a sudden it's like derive crypto options.

I really got it from Tulip King.

And honestly, I am relieved to see a little bit of pullback.

We also had BitMEX shut down, actually.

So the full shutdown of BitMEX has closed after 11 years.

Yes, this is finally going down.

They did one

last scam wick on their way.

Last week, I think I saw that they had hit, you know, the price on BitMEX hit like $150K and wiped out every single short that was on the books or whatever.

So one last scam wick for the culture, for the culture.

When I started back in 2018 in that business, it was relatively common to see, you know, kind of shocking price disparities between either exchanges within a country, say, between Coinbase and Kraken, or within, you know, regions or across countries, right? So you would see dislocations, um, in the range of, you know, multiple percentage points, right? So, so three, four, five percentage points different between markets, and that type of thing just really doesn't happen in the market today as the liquidity profiles have been built out, as more market makers, as more sophistication in the order books, and the technology of these trading platforms have developed to avoid those edge cases where, uh, let's face it, you know, Bitcoin plays on hard mode, right? It, it, it really is a 24/7 global market, and for all of those little pockets of liquidity to have perfect liquidity at all times is a very difficult thing.

Um, even this, this last couple days, we saw, uh, with, with BitMEX winding down some of their markets.

Um, there was a particular perp market that had, uh, kind of a, an anomalous wick up to over 150,000 per Bitcoin just from a lack of liquidity, right? So, so those are the types of things that institutional participants, um, really get scared of, rightfully so, um, because, you know, if you have any margin or if you have any stop loss in those types of markets, you could potentially get wiped out and, and, and lose your Bitcoin in a catastrophic way.

So, so the, the good news is those things are increasingly rare.

And the other businessman who's committed $36 million to reform is a guy called Ben Delo.

Again, crypto billionaire, he's involved with a platform, crypto platform called BitMEX.

He was convicted in America for not producing anti-money laundering, but he was pardoned by Donald Trump.

So can business people buy Bitcoin? election wins, Willie, and should they be allowed to?

So the question is a very interesting one now.

Harborne owns a substantial stake in a country called Bitfinex, which is one of the world's major crypto exchanges, and Bendilo co-founded Bitmex.

So they both have massive interests in crypto.

What do they want from Reform? Well, they want all sorts of things.

expedite all of the rich people into tax havens, create some kind of immigration policy that manufactures the type of civil unrest, use algorithms in order to radicalize people so that they're all blaming each other.

And we even saw right now, I think it was Tether's shareholder, Chris Holborn, and BitMEX's shareholder, they're funding $72 million into the Reform Party.

So you can see the stablecoin crypto side, programmable money side, some of those key lobbying nodes are coming into UK politics and around the whole police and surveillance state, programmable money, stablecoins, all these types of stuff that you're seeing.

So Japan hiking rates is pushing, you know, these yields are changing, the economies are changing, the free money is changing, which has the impact on the multipolar world order.