Investors of the blockchain-based startup ROOK are reportedly planning to liquidate their $25 million crypto treasury in order to “rage quit” the project. The move is seen as a way to address the lack of returns on investments and to reduce the amount of capital held by the company.
The news of the treasury liquidation was first reported by The Block, which cited multiple anonymous sources familiar with the situation. According to the sources, the investors are seeking to liquidate the treasury in order to recoup the funds they have invested in the company. The move is seen as a way to “rage quit” the project in light of the lack of returns and to reduce the amount of capital held by the company.
The ROOK treasury holds crypto assets such as Bitcoin, Ethereum and other digital currencies. The total value of the assets is estimated to be around $25 million. The treasury was originally set up to provide liquidity to the company and to fund future projects.
The proposal to liquidate the treasury is reportedly being discussed by the investors. It is unclear how the liquidation will be carried out and which exchanges will be used in the process. It is also unclear if the investors will be able to recoup the entirety of their investments.
ROOK is a blockchain-based startup that was founded in 2018. The company has raised more than $20 million in venture capital and has become a leader in the DeFi space. The company is focused on providing capital to projects in the blockchain and DeFi space.
The news of the potential liquidation of the ROOK treasury comes as the DeFi space continues to grow in popularity. In recent months, there have been a number of projects that have seen their valuations skyrocket as investors seek to take advantage of the high returns offered by DeFi projects.
If the ROOK investors do decide to liquidate their treasury, it could have a significant impact on the market. The move could potentially reduce the amount of capital held by the company, which could lead to lower valuations in the short-term.
At this time, it is unclear if the investors will decide to liquidate their treasury. If they do, it could have a significant impact on the DeFi space and the market as a whole. It is also unclear how the liquidation will be carried out and which exchanges will be used in the process.
