Risk of ‘Significant Drawdowns’ Pushes Cypherpunk Holdings to Sell Entire Stash of Bitcoin and Ethereum

On Tuesday, the Canada-based investment firm Cypherpunk Holdings Inc. announced that the company has sold all of its bitcoin and ethereum due to the “risk of further significant drawdowns.” The company has transitioned its treasury to cash after selling 214.72 bitcoin and 205.82 ethereum as Cypherpunk Holdings continues “to see systemic risks propagating” across the…

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China Blockchain Alliance Executives: Virtual Currency the ‘Largest Ponzi Scheme in Human History’

The chairman of China’s Blockchain Service Network (BSN) Development Alliance Shan Zhiguang, and his colleague, insisted in a recently published op-ed that virtual currency is “undoubtedly the largest Ponzi scheme in human history.” However, they have said the “value of blockchain technology should not be ignored because of virtual currency.” Opinion Piece Claims 90% of…

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