Episode 2: Inside the Crypto Market Crash.
In this episode, Sean and Ian break down one of the wildest 24 hours in recent memory, the Flash Crash that sent majors tumbling and shook the entire crypto market.
BTC, ETH, and SOL plunged 12–25%, alts cratered 50%+, and even US stocks took a hit. Meanwhile, USDe lost its peg and panic rippled across DeFi. But in the chaos, one surprise winner emerged: Zcash, surging after new institutional support from Grayscale and key endorsements from top KOLs like Naval.
What triggered the selloff? Was it China’s new rare earth export controls? Or something darker, like an insider profiting $190M amid mass liquidations on Aave and other platforms?
Sean and Ian unpack the numbers, the narratives, and the lessons from this event, including why perps are short volatility instruments (and why that matters for survival), how Wintermute didn’t blow up, and what this means for the next phase of the market.
Is this a Black Swan, or just another stress test in an over-levered system? And most importantly: can the bull run continue from here?
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Trade Crypto Options & Perpetual Futures on BTC and ETH with Ultra-low latency, deep liquidity, and pro features like Portfolio Margining, Cross-Asset Collateral & RFQ.
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🔗 Derive Insights: https://insights.derive.xyz/
Episode 1:
In the first episode, Sean and Ian break down the recent market bloodbath that wiped out nearly $1 billion in longs and tackle the big question: is this the top? They also dive into the Alt-Hyperliquid mania that gripped DeFi over the weekend, discussing its drivers and what this new craze might mean for the future of the market.High Signal is Derive’s new weekly show, hosted by Head of Research Sean Dawson and BD Lead Ian Randle. The podcast explores the frontiers of DeFi, options, and derivatives, while also touching on scaling technologies, Layer 2s, ZK, and macro with some of the most respected voices in crypto.
🏇 Trade Now: https://x.com/DeriveXYZ🅧 Twitter DeriveXYZ: https://x.com/derivexyz🅧 Twitter Sean Dawson: https://x.com/SeanNotShorn🅧 Twitter Ian Randle: https://x.com/CptRandlelwa🔗 Derive Insights: https://insights.derive.xyz/
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