GoldenTree Moves Sushi Tokens, Do Kwon Arrested in Montenegro

Name: FS Insight
Price range: $$$

Mar 24, 2023

Author

Walter Teng, CFA ^AC

ARB -7.16% BTC -1.38% ETH -0.26% QQQ N/A% SPX N/A%

Market Update Stock are trading slightly lower relative to yesterday's close after the 10Y yield plunged overnight before rebounding at writing. $SPX and $QQQ are trading at -0.2% and -0.4%, respectively. Correlations between digital asset markets and traditional markets also continue to break down since two weeks ago. $BTC and $ETH are trading -1.6% and -3.2%, respectively. The market-wide price decrease followed the SEC's bulletin urging investors to exercise caution when investing in digital assets. Over the last week, $MASK has appreciated by 49.3% largely due to its $ARB airdrop. As alluded to yesterday, Arbitrum executed its long-anticipated airdrop, allowing it to process more than twice Ethereum's transaction in 24 hours, rivaling that of Polygon.GoldenTree Asset Management, a US-based asset manager, has moved the majority ($5m) of its holdings in $SUSHI to Cumberland, sparking concerns that GoldenTree is exiting its position in the platform. Despite GoldenTree had invested $5.2 million in SushiSwap last year, its crypto wallet currently holds only $1 million in SUSHI tokens. The sale comes as SushiSwap faces fresh regulatory scrutiny in the US, with CEO Jared Grey subpoenaed by the US Securities and Exchange Commission. On-chain data suggest that GoldenTree shuffled

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