
Colin Wu|Apr 28, 2025 13:59
The essence of the Bitget incident, I understand, is that the self operated market makers and risk controllers made mistakes. External market makers earned $43 million, but were withdrawn $20 million, possibly partially frozen by Binance.
Then both sides continue to fight, with BG focusing on the judiciary and market makers focusing on public opinion, exerting pressure on each other. If one side cannot withstand the pressure, they may seek compromise. It is also possible that both parties have become tired and silent, depending on the final judgments of the Singapore and mainland courts.
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