đš ABC just dumped „6.45B (~$64.5M) in crypto bags for „20M (~$200K) â a 99.7% realized loss
Exiting crypto entirely. Sold WOWBIT, Z2Coin, and Nyanmaru Coin in bulk to ZoomART.
Book value: „6.45B
Fair value (Aug 24): „959M
Actual sale price: „20M
$WOWBIT alone = „5.81B book value (90% of total)
Here's the kicker: Even at a „959M mark-to-market, they could only offload it for „20M in a bulk deal.
Company cited "extremely low liquidity and inability to sell on open markets."
Translation: Illiquid shitcoins with no exit. This is what happens when you bag low-float tokens with zero market depth. A cautionary tale for anyone chasing microcaps without volume.
Exiting crypto entirely. Sold WOWBIT, Z2Coin, and Nyanmaru Coin in bulk to ZoomART.
Book value: „6.45B
Fair value (Aug 24): „959M
Actual sale price: „20M
$WOWBIT alone = „5.81B book value (90% of total)
Here's the kicker: Even at a „959M mark-to-market, they could only offload it for „20M in a bulk deal.
Company cited "extremely low liquidity and inability to sell on open markets."
Translation: Illiquid shitcoins with no exit. This is what happens when you bag low-float tokens with zero market depth. A cautionary tale for anyone chasing microcaps without volume.
