DWF is ostracized by the entire industry, and GSR bluntly states, "They are not worthy to share the stage with other market makers."
"DWF will take all your market share, looking forward to receiving your resumes."Original Title: 《Controversial Market Maker DWF Labs Criticized for Ineligibility to Share the Stage, Responds to Industry Criticism: Don't Cry》
Original Source: Chain News
The "Web3 Connect" forum hosted by C² Ventures during Token 2049 unexpectedly sparked a fierce battle among cryptocurrency market makers, with the controversial DWF Labs at the center of the storm.
DWF Under Fire Again: Ineligible to Sit with Other Market Makers
Andrei Grachev, co-founder of DWF Labs, tweeted his thanks for the invitation after the "Web3 Connect" forum. Unexpectedly, market maker GSR angrily retorted on Twitter, stating that DWF Labs was not qualified to sit alongside the forum's speakers: market makers GSR, Wintermute, and OKX, calling it an insult to them.
GSR lamented that it was very sad that, at the end of 2023, bad actors like DWF Labs could still receive so much attention.
Another market maker, Wintermute CEO Evgeny Gaevoy also liked the tweet. Interestingly, in the event photos shared by market maker GSR, part of Andrei Grachev was deliberately cropped out.
GSR's perspective, without DWF Labs.
DWF Labs was actually sitting next to them.
DWF Responds: We Are Eating Your Market
Andrei Grachev of DWF Labs responded to Wintermute, saying, "You actually started collaborating with your competitors (laughs), and you complain like a child, saying we are bad actors."
"Our market making is great, easily eating up your market share, but you have no way to counter it. I will soon receive your resume."
Market Makers' Thoughts on DWF Labs
During an interview at Token 2049, Chain News encountered several market makers who expressed complaints about DWF Labs.
- One market maker revealed to Chain News that DWF Labs' "scalping" incidents not only affected ordinary retail investors but even reportedly harmed their own employees due to the company's erroneous information.
- Another market maker shared more insights, stating that as a former partner of DWF Labs, their employees expressed that the collaboration experience with DWF Labs was quite poor, categorizing it as one of the lowest quality market makers.
- As a standard reference, another well-known market maker in the crypto space, "Wintermute," was categorized as "neither good nor bad."
