Market maker Wintermute started taking profit on its short positions after the CLARITY Act failed to advance earlier today, according to on-chain tracker OnchainLens. The firm’s total short exposure fell from $102.1 million to $55.54 million. At the same time, unrealized PnL increased from $928,000 to $2.28 million.
OnchainLens also said Wintermute reduced its ETH short from 15,330 ETH, worth about $38.47 million, to 7,810 ETH, worth about $18.72 million. The tracker reported cumulative profit of $179.89 million. The update ties the position changes to the stalled progress of the CLARITY Act and frames the move as profit-taking by the market maker.
Market maker Wintermute began locking in profit on its short positions after the CLARITY Act failed to advance earlier today, according to OnchainLens.
Its total short exposure dropped from $102.1 million to $55.54 million, while unrealized PnL rose from $928,000 to $2.28 million.
OnchainLens said Wintermute’s ETH short was cut from 15,330 ETH, worth about $38.47 million, to 7,810 ETH, worth about $18.72 million. The tracker put cumulative profit at $179.89 million.
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