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Interesting conversation with a CEX insider today
Q1: How does Lighter support such tight FX spreads?
You must be running a B-book, right?
A: No.
(mind visibly blown)
Q2: Then you must be taking 100% of liquidations as profit?
A: What? No.
Q3: (laughing) Our CEO basically thinks all user funds are his anyway.
That’s how we crushed it in 202x. (more laughter)
A: …
Today i learnt CEX stands for Cess-pool Exchange