Crypto treasury companies tightened their purse strings after the Oct. 10 market crash, with one exception, said Coinbase’s David Duong.
Public companies that buy and hold Bitcoin and Ether have largely stopped accumulating since the market tumbled earlier in October, a move signaling a recent lapse in confidence.
Digital asset treasury (DAT) companies that buy Bitcoin (BTC) “have largely ghosted the post-Oct 10 drawdown and are yet to re-engage,” Coinbase Institutional global head of investment research David Duong said on Sunday.
“Over the last two weeks, BTC buying by DATs fell to near year-to-date lows and has not meaningfully recovered, even on green days,” he added.
