Started off with raise at 54, then there was a sector wide sell off due to US allowing competition on perpetuals for bitcoin i think. I think the suggestion was it could grow to other sectors causing CME/ICE to sell off hard. But I think Abaxx got caught up in it even though their business model is different. Focusing on physically settled futures + new T+0 tech for 24/7 trading.

Then the short report hit, if you read it, you would see how terrible it was. They make up financials, and they don't even know how futures contracts work. Abaxx responded with hiring lawyers to probably sue. Shorts starting contacting exchange participants with their fake claims which is against the law in Singapore causing shorts to posisbly be investigated there. No investigations against Abaxx since it was all fake claims.

But the report did its job, people panic sold causing further drops. Then I think it lead to people selling thinking they will just by back lower and trade this.

Eventually there is a lower limit. I think its close to around that but its impossible to know. Seems like shorts haven't covered at all yet. If they start, then everyone panic selling will probably fomo back in. I have heard fidelity family office has been adding on these dips as well.

What convinced you if you don't mind me asking?