According to Jordi Alexander (@gametheorizing), the crypto market remains in a 'Wild West' phase, as evidenced by internal confusion at Web3Port regarding basic market making functions. Specifically, Web3Port reportedly failed to grasp why experienced market makers like Selini and Wintermute participated in clearing the OKX auction at the prevailing fair market price, a standard liquidity provision practice. This lack of operational understanding among some market makers increases risks for traders and impacts overall market integrity, potentially affecting liquidity and price discovery on exchanges like OKX (Source: Jordi Alexander on Twitter, May 19, 2025).