PANews reported on October 14th that DeFiance Capital CEO and CIO Arthur Cheong stated in a post on the X platform that while the fund suffered some losses in this incident, the scale of the losses did not rank among the top five most volatile days. He emphasized that he was "very angry and disappointed" about the incident, believing that such extreme price anomalies have severely damaged the overall trust in the crypto industry, especially the altcoin market, which relies primarily on offshore centralized exchanges (CEXs) for price discovery.PANews reported on October 14th that DeFiance Capital CEO and CIO Arthur Cheong stated in a post on the X platform that while the fund suffered some losses in this incident, the scale of the losses did not rank among the top five most volatile days. He emphasized that he was "very angry and disappointed" about the incident, believing that such extreme price anomalies have severely damaged the overall trust in the crypto industry, especially the altcoin market, which relies primarily on offshore centralized exchanges (CEXs) for price discovery.
DeFiance Capital CEO: Although the fund suffered some losses in this incident, the scale of the losses is controllable
PANews reported on October 14th that DeFiance Capital CEO and CIO Arthur Cheong stated in a post on the X platform that while the fund suffered some losses in this incident, the scale of the losses did not rank among the top five most volatile days. He emphasized that he was "very angry and disappointed" about the incident, believing that such extreme price anomalies have severely damaged the overall trust in the crypto industry, especially the altcoin market, which relies primarily on offshore centralized exchanges (CEXs) for price discovery.
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