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- Hayes mused, “Trading without leverage is like driving a Lamborghini in first gear: you know it’s safer, but that’s not why you bought it.” His friend Jehan Chu compared BitMEX to the NASDAQ— “if the NASDAQ was located in Las Vegas.” When pressed about the potentially catastrophic downside of letting people trade so much on margin, Chu insisted that personal responsibility has always been central to the crypto ethos. “You put on 100x? Make sure you read the fine print. Mommy’s not here to make sure you don’t fall off the skateboard.”