Bits + Bips: The Most Dangerous Type of Asset to Trade on Weekends

It's really challenging to be, like, in crypto and see this, yeah, massive equity rally, massive gold rally. Like, I don't know. Like, we we do have an adventure arm, and, like, three, four years ago, like, every venture deck would be like, this is a market cap of crypto. This is a market cap of gold. This is a market cap of equity. And I was like, this is market cap of crypto. This is market cap of gold. This is market cap of equity. So it's like crypto didn't change at all, and everything is going up. And, yeah, it's kind of sad. So it just doesn't look like a volatile asset anymore, which is very bizarre. Hi, everyone. Welcome to another episode of Bits and Dips, the interview. I'm your host, Steve Ehrlich, and I'm here today with Evgeny Gaivoy, CEO and founder of the crypto market maker, Wirtermeid. Welcome, Evgeny. Yeah. Hi. Thanks for having us. If crypto taxes feel overwhelming, you are not alone. That's why CryptoTax Girl, a team that's been helping crypto investors since 2017, is offering $100 off on one on one crypto tax help. To get $100 off your crypto tax services, go to cryptotaxgirl.com/unchained. Again, that's cryptotaxgirl.com/unchained. Before we do, just a quick disclaimer. As always, nothing that, you hear on the show today is investment advice or financial advice. For more disclaimers, please see unchained.com backslash bits and bips for more information. And, with that, again, let let's let's dive right in. I wanna make sure that everyone listening today understands your business and what you do because it's critical, but it's also a little bit in the shadows. So can you just briefly explain market making in in in particular how it relates to crypto? No. Yeah. Sounds good. Yeah. It's a question I get a lot generally because, basically, as a prop train firm in crypto, we do we really do a lot compared to, like, a lot of our competitors. We roughly have three core businesses. So the first one is basically prop train on and market making on centralized exchanges, like Coinbase, Binance, Kraken, Bybit. Basically, all the big ones, all the second tier, some third tier ones. And that's basically our bread and butter. They run hundreds of algos doing millions of trades daily, barely providing bids and offers algorithmically. So, basically, if you trade on those exchanges and you have, like, hundreds of tokens that we cover, like, you are quite likely trading with us. The second bit, and that's something we've been doing since 2020, is, basically, providing liquidity on DeFi. So we basically provide liquidity on all the, yeah, key RFQ protocols, on DeFi, like one inch or Jupiter, for example, and Solana. We run PropMM strategies for those who know, what it is, but, basically, it's it's another way to provide liquidity via arbitrage liquidity pools. We do liquidations. We basically do pretty much ever since that can be done …