DAT Went Wrong: Satsuma to Unwind Bitcoin Treasury, Sell Off $43 Million in BTC
Decrypt·
60-second summary
Satsuma, a UK Bitcoin treasury company, is unwinding its operations and selling off its remaining $43 million in Bitcoin, a significant decrease from the $261 million it raised just over a year ago. This move reflects the current market volatility and the company's decision to cut losses, impacting the overall sentiment of the cryptocurrency market.
The UK Bitcoin treasury company raised $218 million less than a year ago. Now it's returning whatever is left.