Expert calls for action on urgent problem in crypto industry: ‘Doesn’t exist yet’
Aya Kantorovich, a co-CEO and co-founder of digital asset management firm August Co., is calling for urgent coordination among cryptocurrency exchanges. She warned that fragmented systems are leaving billions at risk when markets move fast.
Kantorovich told Bloomberg that the recent $19 billion in liquidations across exchanges during “Bitcoin Black Friday” revealed how nonstandard risk practices can magnify volatility.
“When an exchange goes down, funds can’t necessarily move, and you see cascading liquidations,” Kantorovich explained. “In traditional markets, circuit breakers and inventory coordination keep things orderly — that doesn’t exist yet in crypto.”
The Oct. 10 event saw bitcoin prices fall roughly 12%. It’s a…
