Eugene: The altcoin market is over, say goodbye to crypto treasury companies

According to Odaily Planet Daily, well-known trader Eugene Ng Ah Sio posted on his personal channel: "There have been many profound analyses of Friday's events. I will briefly point out a few points: 1) The altcoin market is over for the foreseeable future. The scale of the wealth destruction this time, and the manner in which it was executed, will leave a long-lasting impression on the minds of participants. 2) Long-short strategies are not viable in the crypto market. These strategies may be effective in normal market conditions, but often fail at the most critical moments. 3) Chain reactions (contagion) will occur, but the extent is yet to be determined. I hope there are no major systemic problems. 4) Goodbye, Crypto Treasury Company."