Defiance Capital CEO: TradFi hedges drive weekend crypto sell-offs, $128B outflow
Defiance Capital CEO and CIO Arthur Cheong said institutional hedgers increasingly use crypto as their short vehicle during weekend risk-off episodes, intensifying pressure on prices. After a Saturday geopolitical shock, Bitcoin and Ether fell and roughly $128 billion exited the market, while Bitwise CIO Matt Hougan framed the disconnect as a broad exposure opportunity.