scimitar capital: shorted SOL/ETH, SOL/BTC because Forward Industries has basically used up the first phase of fundraising
Source: Odaily
Time: 2025-09-15 10:17:33
Odaily Planet Daily News zlex, co-founder of scimitar capital, posted on X that it has established short positions in SOL/ETH and SOL/BTC. On-chain data shows that Forward Industries (FORD) has completed about 90% of order executions, and the market should react soon. They executed about $1.5 billion in 4 days, but have limited ability to further sell new shares and raise funds through ATMs. Considering the speed and scale of execution, and the lack of clear follow-up demand, SOL is expected to weaken in the near term.