There’s something called perpetual futures in the crypto casinos, or perps for short. It’s basically an indefinite derivative. Unlike a regular derivative, it doesn’t expire, you just pay the fees to keep it going.
Here’s how they work: say you bet bitcoin or a shitcoin is going to X price and beyond. If it does, you’re in the money. If not, you’re losing money. But here’s where it gets fun, you can do perps with leverage. So if bitcoin goes up a small amount, you’re raking in cash. But if it goes the other way, your money just gets burned until you run out of money for fees or the liquidation point, say $110k for bitcoin.
King Retard announced some new tariffs. It spooked the crypto market, which is highly volatile as it is. Within seconds, anyone with longs on perps lost all of their money. A lot of shitcoins dropped 60-80 percent. Even bitcoin went to $102k for a moment.
Oh, and someone in the administration was insider trading and made hundreds of millions.
