My new conspiracy theory is all of the smaller coins were an easy way to extend the Ponzi scheme by inventing valuation out of thin air. Now that those have been unmasked and everyone's asking hard questions around liquidity or pulling their coins into their own wallets, the major players are over leveraged to the gills (because you can't make "real money" on customer money without risky bets). The only way out is to get BTC's price back to the good ol days and keep the Ponzi going.
That’s why in “legacy” (stocks/bonds/futures) risk/portfolio management side not only is there a market quote next to your position, but also #of trading days at x% of avg. daily volume to exit…and as a supervisor/risk manager you’re going to assign a lot of risk to that illiquid position (regardless of where the “price” is)
