Monad Co-founder: The conspiracy theory that Jane Street is suppressing Bitcoin below $150,000 is unfounded

SmartContractAuditor · 2026-02-26T03:41:09+00:00

Monad Co-founder Keone Hon posted on the X platform to refute the conspiracy theory that Jane Street is suppressing Bitcoin below $150,000, pointing out that the total market position aligns with the total supply of Bitcoin, and any party can decide to short to increase long positions.

SmartContractAuditor

2026-02-26 03:41:09

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Odaily Planet Daily reports that Monad co-founder Keone Hon stated on the X platform that the conspiracy theory claiming Jane Street is suppressing Bitcoin below $150,000 is unfounded. Using long futures to hedge short IBIT positions means that, on average, other parties will ultimately hold short futures positions, which they must hedge with long spot positions. The total of all positions in the market (converted to delta value) always equals the total supply of Bitcoin (about 20 million coins). Of course, any party can choose to short alone, thereby increasing long positions. This is the case in all perpetual contract markets, but it has nothing to do with IBIT or APs.

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