Those choices have, in turn, led to genuine financial contagion within crypto markets, including tragic rugpulls for a number of startups that had funds custodied with 3AC. More to the point, though, 3AC set the market up for a wave of forced sales of bitcoin, ether (ETH) and similar blue-chip assets, threatening not just individual companies but the entire market.
Source: https://www.coindesk.com/layer2/2022/06/29/why-the-crypto-unwind-wasnt-contagious-this-time/?utm_medium=referral&utm_source=rss&utm_campaign=headlines