Synthetix founder Kain Warwick discussed the evolution of crypto market makers, highlighting their questionable tactics during the ICO boom. He recalled the high costs associated with engaging market makers for token listings and investor attraction, noting that some employed manipulative strategies that ultimately led to bans from reputable exchanges. Warwick pointed out the industry's shift toward call option structures and the emergence of the "low float meta," which market makers exploited for price manipulation. He cautioned against providing exit liquidity to market makers through token transfers and stressed the importance of transparency and vigilance in market dealings. While the crypto landscape has evolved, concerns over unethical market maker practices remain, reinforcing the need for due diligence among projects and investors. As of writing, the total crypto market cap stood at $2.83 trillion.