BREAKING: Chinese authorities seize over $4.2 billion in cryptos from #PlusToken Ponzi crackdown, according to a new court ruling
Seized Assets:
194,775 $BTC
833,083 $ETH
1.4 million $LTC
27.6 million $EOS
74,167 $DASH
487 million $XRP
6 billion $DOGE
79,581 $BCH
213,724 $USDT
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sir, there are now less btc in the market = higher price floor
We got to cocky biz bros. Another dump incoming.
That's assuming the keys are lost or that the goverment decides to burn all those tokens.
Pretty big assumptions. I think the odds of a scammer being able to dump billions of dollars worth of stolen tokens on the market, is far slimmer than the chinese goverment dumping these tokens.
>Coins confiscated
>Less Supply
>Price goes __
>As part of the ruling, the court said "the seized digital currencies will be processed pursuant to laws and the proceeds and gains will be forfeited to the national treasury."
>However, the Yancheng Intermediate People's Court doesn't elaborate on how much of the seized crypto assets have been or will be "processed" or via what method exactly.
so how long will it take them to dump all that crypto and how low will it go?
maybe they sell it directly yo cashapp or paypal and it doesnt affect the market, kek. unlikely.
That is unironically bullish
>"the seized digital currencies will be processed pursuant to laws and the proceeds and gains will be forfeited to the national treasury."
they can dump it
>Price goes __