https://blockchain.info/address/3DWBSSAue32YS8PcW2gLs6m52BCCv3UgDADisappearing of roughly 6k BTC out of escrow on 16-06 and 18-06 (before withdrawals were finished or waves had even started trading on exchange), I think is what really sent investors into panic-dumping mode.
There was no explanation or re-assurance about such a large transfer of funds out of public view at the time, so the market panicked.
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A 3-line explanation for a transferring of $3 million worth of funds out of public view was given 9 days after the transfer took place, and that was only after people were screaming about it and panic-dumping.
I'm being serious, but this coinbiz guy is clearly bullshitting. You can obviously see the other 12,5k BTC which has been withdrawn still sitting on the blockchain in a 10k chunk and a 2,5k chunk.
It's only 5k BTC which was moved out of public view. So it was sold for fiat on exchanges, and now it's being held as fiat balances on exchanges? Or has it been transferred out of exchanges to a bank account?
What other explanation is there for Waves trading at 30% lower than the net asset value of the 30k BTC which Waves holds? Confidence factor is the only explanation I see. Which is a good thing, because I think confidence can be built with positive actions + good investment of funds, and the market will eventually forget about the rough start on bittrex.
They will never disclose full details of their spending, no matter what they say. Or they will bullshit it after the fact.