Bullet points of Crypto millionaire loses $43 million in Ether-Bitcoin trading bet
- James Fickel, a wealthy cryptocurrency investor, has lost over $43 million since January.
- He initially borrowed $172 million worth of Wrapped Bitcoin (WBTC) to buy Ether, expecting its price to rise against Bitcoin's.
- Ether's price has dropped, resulting in his losses.
- Fickel's debt has increased to $132 million.
- The continuous outflows from US Ether exchange-traded funds (ETFs) are contributing to Ether's sluggish price action.
cointelegraph.com11 / Cointelegraph by Layer3.news
npub18k…7glc4
2024-09-14 12:30:30
in reply to nevent1q…9f4j
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npub18k48pxvr07fnxewt58knkrw8v58vc40c7umvaf33ch526xjha5pqt7glc4Published at
2024-09-14 12:30:30Event JSON
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