Rumors out that #OTC desks are watching a peculiar crypto rally unfold.

Spencer Hallarn, Global Head of OTC at GSR, notes that while equity markets are getting smashed, crypto, especially old-school tokens like $FIL , $LTC , $NEAR , $DOT, and $ETC are surging.

He suggests an exchange might be repurchasing spot to make users whole after the Oct. 10 liquidations, unusual amid pervasive negative funding.

Something feels off about this rally👀