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RE: US Capital Markets Review 5/11/18
Cryptocurrencies had a tough week, with Bitcoin falling from the near 10,000 mark to the low 8,000s.
One potential reason for the drop may be Mt. Gox, the now-defunct crypto exchange, which is in the process of paying off its creditors. Some have speculated that its trustee sold a large chunk of the bitcoin it had in its coffers, according to Bloomberg.
Yeah, I have heard that the trustee was selling on the open market before as well instead of finding a private buyer and not flooding the market all at once on the ask, so that wouldn’t surprise me. Seems quite reckless to do that.