$BTC A $ai16z whale, after a 3 month pause, has given up, dumping some of his holdings for a huge loss of $1.92M.

They originally staked 18,000 $SOL ($3.68M) to get 6.51M $ai16z at $0.57 each. Now they have sold 4M $ai16z for $1.05M at $0.26 to cut their losses, holding on to 2.51M $ai16z worth $702K.

What is behind this whale's decision to sell $ai16z for such a huge loss after a 3 month wait?