Lucas Kiely, CEO of Future Digital Capital Management, said the crypto market crash was a "wake-up call" to traders that high leverage is extremely dangerous in a illiquid environment. Nic Puckrin, analyst at Coin Bureau, pointed out that even profitable positions are subject to automatic deleveraging (ADL) forced position squaring, showing that risk management mechanisms are flawed. The Block Research analysis said that a large-scale liquidation event may involve institutions and market makers,...