Bankless How Coinwatch Is Exposing Market Maker Manipulation | Co-Founders Matt Jobbe & Brian Tubergen
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Jul 22, 2025 
Matt Jobbe and Brian Tubergen, co-founders of Coinwatch, are on a mission to reveal the truth behind crypto market makers. They discuss the shocking ways market makers have manipulated token prices and how this has harmed retail investors. The duo introduces Coinwatch Track, a tool designed to bring transparency to these opaque practices. By utilizing trusted execution environments, they aim to restore faith in the market and attract more capital into crypto. Tune in to hear how transparency could change the landscape of digital finance!
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Manipulated Token Float Drives Toxic Markets
- Some crypto projects engineer low token flow and misrepresent circulating supply to manipulate token price upward artificially.
- These tactics pump charts to attract retail investors, only to dump tokens later, causing inevitable price crashes.
Differences Between TradFi and Crypto Market Making
- Traditional equity market makers profit mostly through high trading volume and tight spreads, without needing options.
- Crypto markets with low volume and uneven trade direction force market makers to require incentives like call options to make market making profitable.
Crypto Market Makers Are Hedge Funds
- Crypto market makers are ultimately profit-driven hedge funds, not just unemotional liquidity providers.
- They leverage options to manage risk and exploit price movements up and down, often trading actively beyond pure arbitrage.