According to @KookCapitalLLC, their portfolio is 99% spot and they rarely trade perpetuals, keeping only one or two small positions for perp DEX farming. Source: @KookCapitalLLC on X, Oct 11, 2025. According to @KookCapitalLLC, the only open long was ZEC, they added on the sell-off, and the liquidation level was $142. Source: @KookCapitalLLC on X, Oct 11, 2025. According to @KookCapitalLLC, a wick to $140 liquidated the position before ZEC moved up significantly today. Source: @KookCapitalLLC on X, Oct 11, 2025. According to @KookCapitalLLC, they intend to run it back, underscoring the wick-driven liquidation risk they experienced on a perp DEX during ZEC volatility. Source: @KookCapitalLLC on X, Oct 11, 2025.