Market Makers

stablecoins

2026-09-05 16:43:13

Bank of Korea: Dollar-Backed Stablecoins May Depress Local Currencies

A Bank of Korea study finds that dollar-backed stablecoins can push local currencies lower, with buying pressure in Binance-paired currencies correlating with depreciation as market makers balance positions.

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Solana

2026-09-03 07:57:54

Archer Joins Solana Foundation's Frontier Traders Program, Targeting Market Makers with Order Flow and Infrastructure

Solana Foundation announced that Archer, an on-chain order book spot trading platform, is joining Frontier Traders, an exclusive community and rewards program for on-chain traders. Archer supports market maker access, gaining order flow from top apps and aggregators plus dedicated infrastructure for quoting on Solana. The program has regular and VIP tiers, with VIP members receiving rebates, fast asset listing, priority RPC, and quarterly briefings.

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Bitcoin

2026-08-31 07:29:08

$600 Million in Crypto Shorts Stayed Safe as Market Makers Harvested Funding Instead of Betting on a Drop

Bitcoin’s run from around $62,000 to above $77,000 wiped out roughly $3 billion in leveraged short positions in three days, forcing more than 170,000 traders out of the market. Yet large short positions linked by Lookonchain to Abraxas Capital, Fasanara Capital and Wintermute remained intact on Hyperliquid, totaling more than $600 million across ETH and BTC. The article argues those positions were not straightforward bearish bets. On-chain data from Arkham Intelligence showed Abraxas Capital withdrew 73,872 ETH from Binance over four days while holding shorts, pointing to a hedged cash-and-carry setup rather than directional exposure. In that structure, firms buy spot, short perpetual futures, and collect funding payments when the market is crowded on the long side. Aegis data cited in the piece showed BTC perpetual funding annualized at 6.7% on a 30-day average and 8.7% on a 7-day average as of Aug. 24, levels that 21shares Capital Markets described as attractive for arbitrage. The report also highlighted a split in market structure: some firms appear to be running market-neutral basis trades on venues such as Hyperliquid, while signals from CME suggest other institutional players have started adding directional long exposure. In that setup, the cost is borne by leveraged longs paying funding every eight hours.

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Bitcoin

2026-08-30 12:18:36

Market Makers Profit From Bitcoin’s Rally Without Taking a Directional Bet

Bitcoin’s latest rally may have created a class of winners that are not actually betting on price direction. According to an Aug. 28 report cited by ABMedia from CoinDesk, crypto market makers have been using delta-neutral strategies to capture returns from Bitcoin market activity while keeping directional exposure close to zero. The basic setup is straightforward: hold spot BTC while taking an offsetting short position in derivatives, so gains are tied less to whether Bitcoin rises or falls and more to structural features of the market itself. The report points to three main sources of return: perpetual futures funding rates, futures premiums over spot prices known as basis, and staking rewards. In bullish conditions, retail traders often pile into leveraged long positions, pushing perpetual funding rates into positive territory and forcing longs to pay shorts. ABMedia said positive funding rates of 0.01% to 0.05% every eight hours are not unusual in such periods. Basis trades can also become more attractive when futures trade above spot, allowing firms to buy spot, short the premium futures contract, and collect the spread as prices converge at expiry. As leverage demand rises, both funding income and basis returns can expand.

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Bitcoin

2026-08-30 12:00:00

Crypto Market Makers Cash In on Bitcoin's Rally Without Directional Bets

Bitcoin is back above $80,000. Crypto market makers are cashing in on the move even though they are not taking directional positions. These sophisticated trading firms are quietly collecting yield from the rally, according to CoinDesk, rather than betting on which way prices will go next.

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Bitget

2026-08-27 07:09:15

Bitget launches $300 million Project Archimedes for quant firms and asset managers

Bitget has unveiled Project Archimedes, a $300 million institutional capital program aimed at quantitative trading firms, asset managers and market makers. The initiative is split into two tracks: a $100 million capital provider program for emerging and growth-stage market-neutral quant teams, and a $200 million interest-free lending program for established institutions with mature strategies and existing trading scale. According to Bitget, eligible participants in the second track can access zero-interest capital if they meet specified trading-volume or position requirements. The exchange said the program is designed to help institutions expand strategy capacity, improve capital efficiency and pursue opportunities in digital assets and tokenized markets. CEO Gracy Chen said strong strategies are often constrained not by talent, but by capital, adding that Bitget aims to support more than 50 high-quality projects with the fund over the next six months. The company also tied the initiative to its Unified Account structure, under which eligible rToken spot positions can be used as collateral for derivatives trades in the same account. Bitget said the program will initially focus on market-neutral strategies with clear operating records and measurable risk controls, with participants subject to strategy reviews, due diligence and drawdown assessments.

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LayerZero

2026-08-26 06:12:50

LayerZero unveils ATLAS as an exchange backend for matching, settlement and risk controls

LayerZero on Aug. 25 introduced ATLAS, short for Aggregated Trading Liquidity and Settlement, as a headless exchange infrastructure stack rather than a retail-facing venue. The product is designed to sit behind trading platforms and handle matching, clearing, settlement and risk management, while partner venues keep control of the front end, branding, user relationships and distribution. The company said ATLAS will run on Zero, the blockchain LayerZero disclosed in February 2026, and published test figures showing sub-1 millisecond median latency, 1.418 milliseconds at P95 and 2.641 milliseconds at P99 in its current environment simulating public deployment. It said the system is planned to launch with capacity for 200,000 transactions per second. Under the fee model released for Open ATLAS, exchanges can receive rebates of 20% to 65% based on ZRO staking and total trading volume. After those rebates, 25% of the remaining fees would go to market creators and 75% would be used to buy back and burn ZRO. LayerZero named GTE, Bullish, Defined and TrueNorth as initial Open ATLAS partners, while saying the product is expected to launch later in 2026, with The Information reporting a target of fall 2026.

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Bitcoin

2026-08-26 08:03:40

$6.4B Bitcoin Options Expiry on Friday May Add to Market Volatility

A $6.4 billion bitcoin options expiry scheduled for Friday could increase short-term market volatility, according to CoinDesk. The expiry comes after bitcoin climbed from $62,000 to $80,000, a move that has left market makers managing larger risk exposures around several key strike prices. With price action concentrated near those levels, hedging activity around expiry may become a focal point for traders watching near-term swings. The report ties the upcoming event directly to the recent rally and the positioning pressure it has created for market makers.

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