David Siemer, CEO of Wave Digital Assets, told Newsmax on Tuesday that confidence in the cryptocurrency market remains shaken nearly two weeks after a $20 billion liquidation wiped out investor positions across major exchanges.
“Since the huge wipeout we had about 11 days ago, you’re seeing the market just be really choppy,” Siemer said on Newsmax’s “National Report.” “A lot of confidence was shook in the space.”
The global crypto market suffered a massive correction on Oct. 10, when more than $20 billion in leveraged positions were liquidated. The sell-off triggered cascading failures among several major exchanges, temporarily locking traders out and amplifying losses.
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