There have been a lot of market movements recently. First, the aftereffects of the October plunge are still unfolding. It is rumored that a major market maker was heavily impacted, with initial speculation pointing towards GSR, but GSR later issued a statement denying the rumors, stating that their business operations are normal.

What’s even more heartbreaking is that Legion’s new listing project Almanak completely failed to debut. The project was launched with a valuation of 90 million USD, with an initial offering price of 0.09 USD. But what happened? Since listing, it has fallen below 0.034 USD, a drop that’s more than halved. Such a level of failure to debut indeed caused significant losses for many investors participating in the IPO, and once again reminds everyone — the risk of high-valuation projects failing at debut is always more aggressive than expected.

Theoriq also has new developments, with related updates expected on December 16. In summary, this wave of market activity is a significant test for institutions involved in IPOs and market making.