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First Mover Asia: The Crash of Three Arrows Capital’s Starry Night Portfolio Shows NFTs’ Lack of Staying Power; Bitcoin Regains $20K After Earlier Drop

First Mover Asia: The Crash of Three Arrows Capital’s Starry Night Portfolio Shows NFTs’ Lack of Staying Power; Bitcoin Regains $20K After Earlier Drop

Good morning. Here’s what’s happening: Prices: Bitcoin fell below $20K in its ongoing tango with the psychologically important threshold. Insights: Three Arrows Capital’s Starry Night NFT collection is worth a fraction of what the now bankrupt crypto hedge fund paid to assemble it. The crash underlines a bigger problem with the NFT market. Catch the latest episodes of CoinDesk TV for insightful interviews with crypto industry leaders and analysis. And sign up for First Mover, our daily newsletter putting the latest moves in crypto markets in context. ● Bitcoin (BTC): $20,002 −1.7% ● Ether (ETH): $1,357 −1.4% ● CoinDesk Market […]