Institutional investment firm Scimitar Capital has decided to liquidate crypto assets in its portfolio and return funds to fund investors.
Scimitar Capital, which invests in cryptocurrencies with the funds it collects from its customers, is allegedly a factor in today’s crypto crash. In particular, the statement that nearly $2 billion in sales was made on altcoins, and then the liquidation decision from an investment company drew attention.
Scimitar Capital has announced that it has liquidated all crypto assets in its portfolio. The investment company has decided to cash out its portfolio of altcoins and return it to fund investors.
Our fund has made the strategic decision to liquidate our crypto holdings and return the capital to our esteemed LPs. We believe this move will provide enhanced stability and opportunities
#FundUpdates #CryptoLiquidation #InvestmentStrategy
— Scimitar Capital (@ScimitarCapital) June 10, 2023
Scimitar Capital Sells Crypto Assets
The bad days of the crypto money market started to get worse with the steps of the institutions. After market makers, defined as Market Makers, took assets from Binance, another move came from investment companies. Investment firm Scimitar Capital has announced that it will liquidate all crypto assets and return the incoming money to its investors.
The crypto community thinks Scimitar Capital is behind the $2 billion altcoin sale that took place overnight.
[BREAKING]
The fund that liquidated $2B of altcoins late Friday night in the broad crypto selloff is rumored to be Scimitar Capital pic.twitter.com/e23mbpuJda
— thiccy (@thiccythot_) June 10, 2023
Almost all altcoins in the crypto market are facing a drop of close to 20 percent. While discussing the reason behind this decline, the statement from Scimitar Capital drew attention.
It is not known how much sales the investment company made and how much funds it managed. However, the company announced that it would withdraw from the market by emptying its crypto basket.
After the statements from Scimitar Capital, the website of the investment company is busy. Crypto users are curious about altcoins in the investment firm.
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