Babylon, a Bitcoin staking platform billed as a new way of providing the original blockchain’s security to new protocols and decentralized applications, pulled in about $1.5 billion worth of bitcoin on Tuesday after briefly opening to additional deposits. Source
Before being uplisted to an ETF from a trust, GBTC was one of one of the only ways for stock traders in the U.S. to gain exposure to the price movements of bitcoin without the need to purchase the actual cryptocurrency. That made it the largest regulated bitcoin fund in the world by AUM. The bank had previously estimated that up to $3 billion had been invested in GBTC in the secondary market during 2023 to exploit the trust’s discount to NAV. If this estimate is correct, and given that…
Funds holding ether (ETH) experienced $34 million of net inflows last week, extending the positive trend to four consecutive weeks and surpassing $100 million of net inflows during this period. ETH funds now have almost nullified their dismal run of outflows earlier this year, which marks “a decisive turnaround in sentiment” towards the second largest cryptocurrency, CoinShares added. Source
Bitcoin (BTC) institutional investment vehicles are seeing a major volume boost as excitement over possible United States regulatory changes takes hold. Data from resources including Bloomberg showed Bitcoin exchange-traded funds (ETFs) and others nearing record weekly inflows. BITO, GBTC trade $2.5 billion Hints that the U.S. might soon allow a Bitcoin spot price-based ETF have not only impacted BTC price action — the surrounding ecosystem has benefitted in kind. In addition to exchanges and mining firms, embattled institutional investment options are also seeing a resurgence in demand. As noted by…
The guilty plea comes less than a month before the trial of Sam Bankman-Fried, the FTX founder, is set to begin. Bankman-Fried, who has pleaded not guilty to all of the charges against him, stands accused of orchestrating a multibillion-dollar fraud that ultimately culminated in FTX’s bankruptcy and the loss of funds for its customers. Source
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Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. The past week in DeFi saw developers behind Base and Optimism protocols join hands to develop a revenue and governance sharing framework. The $1.5-billion Multichain hack has seen some new evidence — read our detailed investigation to learn about every aspect of the exploit and the plight of the victims thereafter. Blockchain security provider Quantstamp introduced a new DeFi tool to detect…
On July 14, developers of the $1.5-billion Chinese cross-chain protocol Multichain confirmed users’ worst fears. The protocol’s CEO, identified only as “Zhaojun He,” was arrested by Chinese authorities in Kunming on May 21 after months of repeated denials on official communication channels. Also allegedly arrested was Multichain’s core team, which was operating in Shanghai. It was never disclosed why Zhaojun had been arrested or what the charges were. However, evidence suggests that Multichain funds may have been seized as part of an anti-money laundering operation in the context of a…
Cameron Winklevoss, co-founder of the Gemini crypto exchange, tweeted what he described as a “final offer” in the debt-restructuring talks over the bankrupt digital-asset firm Genesis, bringing months of negotiations and mediation to a head with a plan for $1.5 billion in forbearance payments and fresh loans. Source
CryptoX – Cryptocurrency Analysis and News Portal Cameron Winklevoss, co-founder of the Gemini crypto exchange, tweeted what he described as a “final offer” in the debt-restructuring talks over the bankrupt digital-asset firm Genesis, bringing months of negotiations and mediation to a head with a plan for $1.5 billion in forbearance payments and fresh loans. Original Source The post Crypto Exchange Gemini’s Cameron Winklevoss Tweets $1.5B ‘Final Offer’ in Debt Talks for Bankrupt Genesis appeared first on CryptoX. CryptoX Portal