30% Of Crypto Market Makers Got Wiped, Mike Novogratz Says — TradingView News
Galaxy Digital CEO Mike Novogratz says the October 10th crash in crypto was far more than a routine shakeout, claiming that roughly a third of market makers in parts of the ecosystem were effectively wiped out.
“We had a flash crash and it did a lot of damage to the fabric of the market,” Novogratz told Anthony Scaramucci on the first-ever episode of “All Things Markets,” recorded November 26. “Even on Hyperliquid, the market makers, you know, 30 percent of them went out of business. Got zeroed.”
Scaramucci framed the last 20 trading days as another brutal reminder of crypto’s structural volatility. “I know I have a trap door on my portfolio,” he said. “Once in a while I’ll be walking across the living room feeling…
