When Crypto Becomes a Sovereign Risk: High-Stakes Bet Meets Reality in Bhutan

6th February, 2026
In the early hours of 1 February 2026, Ethereum briefly fell to around US$2,243 in a sharp market dislocation that triggered widespread liquidations across leveraged crypto positions.In the aftermath, on-chain commentators highlighted a wallet they associated with Bhutan’s sovereign wealth fund, Druk Holding & Investments (DHI), selling staked Ether (stETH)...
In the early hours of 1 February 2026, Ethereum briefly fell to around US$2,243 in a sharp market dislocation that triggered widespread liquidations across leveraged crypto positions.In the aftermath, on-chain commentators highlighted a wallet they associated with Bhutan’s sovereign wealth fund, Druk Holding & Investments (DHI), selling staked Ether (stETH)...

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