67 million drops to 11 million, publicly executed on the blockchain, this person actually didn't sell, is it conviction or being trapped as a shareholder?

According to Arkham monitoring, former Adaptive Capital co-founder Murad still holds all the Meme coins listed publicly two years ago. His on-chain net assets peaked at $67 million in July last year and have now fallen to approximately $11 million, a decline of 83.5%. Arkham states that despite the significant asset retracement, Murad has not sold any of the related holdings.