The one-bet book, across coins and venues

the crypto book audit

The record regrouped crypto's way: coins collapsed by narrative (the sector is the correlated unit, module 5), the whole book read as its total crypto exposure (correlation to one, module 4), and the positions read across venues - because the same coin held on three exchanges is one market bet spread across three counterparty risks. The one-bet audit, with crypto's two extra dimensions: narrative correlation and venue counterparty.