The compensation for Mentougou is more than 140,000 BTC, worth $9 billion. The existing ETF holds a total of $14 billion worth of BTC.
This news broke today. Be careful of BTC falling below 60,000.
It is not known how to compensate, how much at a time, and through which exchange.
But it is certain that compensation will take a long time, because many people have to go through the KYC process (if they are Chinese, it may be more troublesome).
It is not clear whether this matter will be reversed.
More information needs to be disclosed.
What should we do now?
Remove leverage from contracts, reduce positions, and buy back if they fall
Keep about 30% of ETH and other coins
Free up other positions to get bullets, take one step at a time
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