Following the over-the-counter (OTC) firm’s Twitter thread on June 14, Cumberland explained on July 5 that “rangebound price action belies a volatile picture below the surface,” while crypto markets consolidated during the past week. Cumberland stressed there’s a growing number of crypto companies feeling financial burdens, and “uncertainty” tied to stressed entities is “hanging over the market like a cloud.”
OTC Firm Cumberland Says Markets Will Return to a Healthy State Once Distressed Assets Are Transferred From the Insolvent to the Solvent
In mid-June, the cryptocurrency OTC trading desk Cumberland, a subsidiary of DRW, explained how it witnessed significant volume on June 13. In fact, the company recorded a previous year-to-date high on May 13, and the volume on June 13 outpaced the mid-May high by 30%. In recent times, Cumberland wrote about the Securities and Exchange Commission (SEC) rejecting Grayscale’s spot exchange-traded fund (ETF) bid. Cumberland also spoke about the...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...