Matt Levine, Columnist

DeFi Discovers New Market Manipulations

Also Bored Ape securities and unlikely Musk/Twitter outs.

October 12, 2022 at 6:30 PM UTC

Matt Levine is a Bloomberg Opinion columnist. A former investment banker at Goldman Sachs, he was a mergers and acquisitions lawyer at Wachtell, Lipton, Rosen & Katz; a clerk for the U.S. Court of Appeals for the 3rd Circuit; and an editor of Dealbreaker.

Provide news feedback or report an error

Site feedback:

Take our Survey

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.