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Tom Lee might have been right about the incident on October 10 🤔
According to Delphi's co-founder, Tom Lee might have been correct.
Suppose a market maker experienced a financial shock on October 10 and threatened to sue the exchange. A plausible scenario would be that the exchange sold all profits to cover the shortfall. This selling would occur continuously, selling anything with liquidity — a classic "fire sale to cover losses" tactic.