Fat Pig Signals logo

Almost $6 B Lost by Cryptocurrency Investment Funds Like 3AC, Celsius and Others

Shares

Cryptocurrency investment funds lost almost $6 billion worth of Bitcoin following the massive liquidation series on the cryptocurrency market back in the May-June period. The biggest loser on the market is, as expected, the Luna Foundation Guard.

The largest portion of the coins that were lost is tied to the series of large liquidations that appeared on the market after the price of the first cryptocurrency tumbled from $30,000 to $17,000.

Luna Foundation Guard lost more than 80,000 BTC, which is worth more than $1.8 billion at press time. Second place on the chart goes to Tesla since the company sold $900 million worth of BTC back in May.

Bitcoin chart
Source: Vetle Lunde

The notorious Three Arrows Capital was not the biggest loser on the market, despite being the most popular object of ridicule in the space since May.

The chart is being closed by massive selling events conducted by public miners who got rid of around 19,000 Bitcoins, causing enormous selling pressure on the market in June and fueling BTC's catastrophic run to $17,000.


Read more on U.Today https://u.today/almost-6-billion-lost-by-cryptocurrency-investment-funds-like-3ac-celsius-and-others

Shares

Related Articles

English High Court Recognizes Tether's USDT as Property: A Landmark Decision

English High Court Recognizes Tether's USDT as Property: A Landmark Decision The legal landscape of digital assets took a significant step forward as the High Court of Justice in England and Wales ruled that Tether’s USDT stablecoin qualifies as property. This ruling is pivotal, not only affirming USDT’s status under English law but also impacting […]
Ftx Exchange logo in 3D

SBF Says He Wants to Raise Liquidity and Restart Business

Utoday: Founder of now-bankrupt exchange wants to start things from scratch, here's how community reacted Sam Bankman-Fried, who co-founded major exchange FTX which he recently declared insolvent, has taken to Twitter to tell the community that he would like to start his business all over again. He plans to compensate losses to customers first and, after […]

LayerZero Chain: An Omnichain Interoperability Protocol

LayerZero Chain: An Omnichain Interoperability Protocol LayerZero Chain is an omnichain interoperability protocol that enables the realization of cross-chain applications with low-level communication primitives. It provides a seamless and secure way to transfer messages and assets between different blockchain networks. Core Features of LayerZero Chain LayerZero Chain offers several core features that make it a […]
PHISHING WARNING: Please make sure you’re visiting https://www.fatpigsignals.com. There has been an increasing amount of scammers and Impersonators. Please verify the handles carefully as well. Admins will never contact you selling investment products or a fund.
Official Admin Contacts: https://t.me/dad10 and https://t.me/gangplank123
+