Inside the emergency brake that can cut winning positions—and the quiet rules that decide who gets tapped first.
Auto-deleveraging is the emergency brake in crypto perpetuals that cuts part of winning positions when bankrupt liquidations overwhelm market depth and a venue’s remaining buffers, as Ambient Finance Founder Doug Colkitt explains in a new X thread.
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Source: CoinDesk | Published: 2025-10-11T21:58:55Z
Credit: CoinDesk
