PANews reported on November 16th that Tom Lee, Chairman of the Board of BitMine, an Ethereum treasury company, posted on the X platform that the current cryptocurrency market downturn has exposed many problems, such as: one or two market makers with significant balance sheet vulnerabilities, and a group of sharks poised to trigger a Bitcoin price crash/sell-off. However, the pain caused by these problems will not last long and will not change Wall Street's goal of building an "ETH supercycle." But now is not the time to use leverage, as it is easy to get trapped. Furthermore, in response to a community user's question about when the market maker balance sheet issue could be resolved, Tom Lee stated that it seems it will take 6-8 weeks.PANews reported on November 16th that Tom Lee, Chairman of the Board of BitMine, an Ethereum treasury company, posted on the X platform that the current cryptocurrency market downturn has exposed many problems, such as: one or two market makers with significant balance sheet vulnerabilities, and a group of sharks poised to trigger a Bitcoin price crash/sell-off. However, the pain caused by these problems will not last long and will not change Wall Street's goal of building an "ETH supercycle." But now is not the time to use leverage, as it is easy to get trapped. Furthermore, in response to a community user's question about when the market maker balance sheet issue could be resolved, Tom Lee stated that it seems it will take 6-8 weeks.
Tom Lee: Leverage is not recommended in the near term; the market may need 6-8 weeks to address the loopholes in market makers' balance sheets.
PANews reported on November 16th that Tom Lee, Chairman of the Board of BitMine, an Ethereum treasury company, posted on the X platform that the current cryptocurrency market downturn has exposed many problems, such as: one or two market makers with significant balance sheet vulnerabilities, and a group of sharks poised to trigger a Bitcoin price crash/sell-off. However, the pain caused by these problems will not last long and will not change Wall Street's goal of building an "ETH supercycle." But now is not the time to use leverage, as it is easy to get trapped. Furthermore, in response to a community user's question about when the market maker balance sheet issue could be resolved, Tom Lee stated that it seems it will take 6-8 weeks.
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