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I just learned about DAT and honestly the timing is perfect. Pantera Capital wants to offload Bitcoin while their shares have dropped by 99% – that’s what you call a desperation move. Satsuma is involved here and the whole situation is like a textbook case of how quickly value can disappear.
CoinDesk covered this with their usual detailed reporting, but the point I got is how this happened to an established fund. Their Bitcoin holdings that they want to sell while everyone is panicking – makes sense but the timing is a bit sketchy. Just curious where this will lead next, because when the impact is this big, there are usually ripple effects.
Is anyone else following this? It’s just a lesson in risk management, right?