I read an article on Bloomberg where some old traders are loving cryptocurrency because they're able to bust out tricks from 30 years ago that don't work any more in modern commodity markets due to their efficiencies - but exist in crypto exchanges.
Not sure why your Madoff reference reminded me of this story, other than the fact that big Bernie also pioneered Payment for Order Flow, which is the method by which most brokerage firms today can offer commission-free trades (eg: Robinhood, etcetera)
Biting the hand that feeds IT
