Crypto Biz: Coinbase downgraded, 3AC deemed insolvent and Michael Saylor buys the dip

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Crypto Biz: Coinbase downgraded, 3AC deemed insolvent and Michael Saylor buys the dip
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Let's say six months ago nobody would have imagined this. Check out the latest moves in the world of crypto and business in our Crypto Biz. (Reporting via forgeforth_)

). Earlier this week, the company introduced its 21Shares Bitcoin Core exchange-traded product, also known as CBTC. What makes CBTC so unique is its paltry expense ratio of just 21 basis points, which is 44 basis points below the next cheapest product on the market.

Basically, 21Shares wants you to keep stacking sats — or buying shares in its ETP — during the market downturn. Unless you think Bitcoin is dead, the best time to accumulate is during bear markets.The brain trust behind Three Arrows Capital, also known as 3AC, has been radio silent over the past few weeks amid reports that the hedge fund is bankrupt.

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