《Market Makers Have No Faith: Jane Street, 10 AM Dump, and the Truth About Liquidity》(Editor @estherinweb3) Jane Street accounts for over 10% of trading volume in the US stock market, and like Citadel, belongs to the first-tier market makers, both using automated market making. The market is too bearish, everyone needs a scapegoat, and Jane Street is a convenient choice; survival rules for market makers in a bear market are: first, some projects shorten adjustment cycles, second, some actively adjust strike prices, third, more and more projects are moving to a monthly fee model; the simplest approach for the SEC or CFTC is to require participants to follow rules more strictly, assume greater disclosure responsibilities, and make the cost of violations high enough—if suspicious behavior like 10 AM dumps exists, with high violation costs they wouldn't dare do it. Read the full article: