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How Coinwatch Is Exposing Market Maker Manipulation | Co-Founders Matt Jobbe & Brian Tubergen

Bankless

[email protected]

Tech News, News, Technology

4.81.1K Ratings

🗓️ 22 July 2025

⏱️ 58 minutes

🧾️ Download transcript

Summary

Crypto's murky market making practices are finally getting sunlight. We sit down with Coinwatch co-founders Matt Jobbe and Brian Tubergen to uncover how market makers have been quietly influencing token prices, the call-option structures enabling extraction, and how shady tactics have hurt retail. Then, we explore how Coinwatch Track is bringing real-time transparency to the space using trusted execution environments (TEEs), giving projects verifiable insights into what market makers are really doing with their tokens—and why this might just restore trust and open the door for more liquid capital to enter crypto. ------ 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24 https://bankless.cc/spotify-premium ------ BANKLESS SPONSOR TOOLS: 🪙FRAX | SELF SUFFICIENT DeFi https://bankless.cc/Frax 🦄UNISWAP | SWAP ON UNICHAIN https://bankless.cc/unichain 🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle 🟠BINANCE | THE WORLDS #1 CRYPTO EXCHANGE https://bankless.cc/binance 🦎COINGECKO API | REAL-TIME CRYPTO PRICE & MARKET DATA https://bankless.cc/coingecko ------ TIMESTAMPS 0:00 Intro 0:30 Market Makers 101 7:25 Why the Bad Reputation? 14:25 TradFi Market Makers 16:34 Market Making Business Model 21:34 The Positive Case 23:22 Market Making Cabals 33:36 Matt & Brian Backgrounds 40:03 Coinwatch 101 46:33 Why Coinwatch? 51:31 The Bull Case 56:51 Call to Action 57:38 Closing & Disclaimers ------ RESOURCES Coinwatch https://coinwatch.co/ Coinwatch on X https://x.com/coinwatchdotco Matt Jobbe Duval https://x.com/mattjob1 Brian Tubergen https://x.com/tubergen ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠

Transcript

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0:00.0

Marketmakers are hedge funds in crypto.

0:03.0

You know, there is, of course, a concept of a franchise business and they have sales team, but ultimately they're profit driven. They're here to make money. I'm not saying that they don't care about clients. I'm not saying that they don't care about their responsibility as of providing markets, but they are not regulated like a marketmaker, like a Citadelis in Trout fight, right? Technically, when you look at the paperwork, they are pure hedge fund.

0:28.7

Bankless Nation, I'm here with Brian and Matt from CoinWatch. Brian, Matt, welcome to the show.

0:30.6

Thanks for having us, David. Thanks for having us.

0:35.0

CoinWatch is probably not a name that the average listener is familiar with, but by the end of the episode, we're going to illuminate exactly what you guys are doing, because what you guys are doing are illuminating a part of the market that is very

0:41.1

important for informed investors to be aware of. This has been a topic, market making has been a topic

0:47.2

with a particularly large limelight in the first half of 2025 downstream from a bunch of

0:54.1

controversies, debacles,

0:55.9

drama as it relates to toxic market making deals with liquid tokens that have generated a bunch

1:02.1

of hype. And so this is definitely a part of crypto's overall market structure that needs to get

1:08.2

repaired, needs to get fixed, needs to be a little bit more orderly,

1:12.2

and something that you guys are announcing today is definitely going to help with that.

1:16.0

Now, I don't want to get to that part of this conversation too fast, too soon.

1:19.6

I want to slow roll our way there to really be able to land the importance of what you guys

1:25.4

are doing, and then we'll get to the exact product release

1:28.3

that you guys are bringing to the table. Before we go there, I want to just educate listeners

1:32.5

on exactly the part of the market that we are talking about. So we'll just quickly do kind of like

1:37.9

a one-on-one on market making and how deals get inked and who is at the table when deals get inked and how deals end up

1:46.7

looking like the way that they look so that we can when we talk about what you guys are

1:50.9

releasing today we can talk about how that's impacted so let's start there market makers

1:54.4

what do they do why do we need them how do they operate how do they make money and then why are

2:00.2

they so ripe for toxic

...

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