Matrixport: Crypto VCs are facing pressure to return funds to investors, which may be another major selling pressure in addition to FTX

Odaily Planet Daily News Matrixport said in a report that FTX plans to sell at least $3.4 billion in cryptocurrencies, which will put pressure on altcoins during the rest of the year. FTX stated that it hopes to sell $200 million worth of crypto assets every week, which means that FTX will continue to sell assets until the end of 2023. Furthermore, FTX is not the only major seller in the market. The report indicates that VCs are also facing tremendous pressure to return funds to investors. Research director Markus Thielen believes these venture capital funds may remain significant sellers of altcoins. (CoinDesk)