Review the position inside its market structure

I’m Alex Zhao. My work combines spot, derivatives, flows, and on-chain data to evaluate institutional digital-asset strategies and prepare scenario frameworks and position reviews for investment, trading, and risk teams.

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Editorial work scene focused on digital-asset market structure research — Vice President, Digital Asset Investment StrategyNew York, United States

Research scope

Price is one record left by the market

I review spot, derivatives, flows, on-chain data, and executable liquidity together. Even when several charts agree, they may all reflect the same positioning. The useful work is often in the part that does not reconcile cleanly.

Four views in a position review

Market structure

Separate spot and derivatives price discovery, participants, and trading hours.

Funding and leverage

Record funding, basis, open interest, collateral, and liquidation conditions.

On-chain and flows

Keep address activity, exchange flows, and custody transfers within their interpretive limits.

Execution and risk

Review depth, impact cost, counterparties, collateral, and exit paths.

Employment and education

Current roleVice President, Digital Asset Investment Strategy

Galaxy · Full-time · New York, United States

EducationRenmin University of China

Finance · Bachelor of Economics · 2014–2018

Market notes

Recent writing

The notes discuss public methods and clearly labelled hypothetical positions. They do not represent my employer, a client, a trade, or an investment result.

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