George Soros blazed the trail for crypto traders struggling to navigate the coinbase and binance accusations, tgroth8 writes in this week’s “Crypto Long & Short” newsletter.
Additional regulatory action against Coinbase was probably more certain than against Binance, as the firm had already received a Wells Notice. Juxtapose this with the enforcement action against Binance, a firm with no official physical headquarters, making it less clear how it would be investigated by the SEC. .
I prefer to look at the data from the perspective of leveraged money managers as opposed to asset managers, swap dealers, or other reportables, as they are more likely to have unhedged positions. I consider the group’s positioning to be a contrarian indicator, as this category of traders is more susceptible to short squeezes.
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