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Opinion
Matt Levine

DeFi Discovers New Market Manipulations

Also Bored Ape securities and unlikely Musk/Twitter outs.

The simplest form of market manipulation is:

This, I frequently point out, should not work. In Step 1, you push up the price of X by buying it; therefore, in Step 2, you will push the price down by selling it. There are no free lunches that are this simple.