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Liquidation

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The $19 Billion Lesson: A Complete Guide to Risk Management for Crypto Derivatives Trading
Risk Management

The $19 Billion Lesson: A Complete Guide to Risk Management for Crypto Derivatives Trading

On October 10, 2025, $19 billion in open interest evaporated in 36 hours. Nearly 400,000 traders were liquidated in a single day. Most of them had an edge. What they didn't have was a risk framework built for perpetual futures. This is that framework.

Athenum AnalyticsAthenum Analytics
Feb 26, 202616 min