Evgeny Gaevoy attributes the '10.11' crash to high leverage and the growth of perpetual contracts, highlighting significant losses for institutions due to poor hedging strategies.
Evgeny Gaevoy, CEO of Wintermute, discussed the causes of the '10.11' market crash, identifying excessive leverage and the rise of perpetual contracts as key contributors. He emphasized that many institutions likely suffered large losses due to inadequate hedging strategies during the event.