Tag: 94M

Bitcoin ETFs shed $94m on fourth day of net outflows

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Bitcoin declined over 5% on March 22 as spot ETFs recorded negative numbers for the fourth consecutive day, mainly due to Grayscale GBTC exits. According to SoSo Value, 10 spot Bitcoin (BTC) ETFs marked $93.8 million in cumulative single-day outflow during trading on March 21. Grayscale’s GBTC accounted for most of the BTC ETF share liquidation, amounting to $358 million. Bloomberg’s James Seyffart verified that Grayscale’s BTC ETF has lost nearly half of its shares to sell orders following the approval of spot BTC ETFs on Jan. 11.  Seyffart concurred with…

Raids on 6 Indian Crypto Exchanges Uncovered $9.4M in Unpaid Taxes

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Indian tax authorities have raided around half a dozen of the country’s biggest cryptocurrency exchanges under the suspicion of tax evasion. Some of the raided exchanges are CoinSwitch Kuber, CoinDCX, BuyUCoin and Unocoin. According to the sources of local media, the crackdown by the Mumbai CGST and DGGI has detected tax evasion of more than $9.41 million by the Indian exchanges. “These service providers were charging a commission for their facilitation to indulge in exchange of bitcoins but were not paying GST tax. These transactions were intercepted by DGGI and…

MicroStrategy Remains One Step Ahead With $94M Bitcoin Purchase

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MicroStrategy has once again doubled down on its bitcoin holdings with another purchase. This time around, the company spent almost $100 million to add more BTC to its mammoth holdings. The company which has been buying bitcoin since 2019 has stuck to its promise to invest heavily in the digital asset and has been the only company to continue buying through the dips. MicroStrategy Buys More Bitcoin MicroStrategy announced that it has bought more bitcoins to add to its balance sheet. The publicly listed company had bought a total of…

DeFi mutual fund Sheesha Finance raises $9.4M

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Sheesha Finance, a DeFi mutual fund based in the United Arab Emirates, has raised $9.44 million over a two-week token sale — underscoring heightened investor demand for decentralized finance applications.  The token sale, known as a Liquidity Generation Event, or LGE, excluded private sales and early contribution bonuses, which allowed micro-investments of as little as 0.0001 Ethereum (ETH). In total, LGE contributors doled out 3,171.31 ETH, valued at $6.35 million, and 7,769.43 Binance Coin (BNB) worth $3.08 million. Investors who contributed to the LGE can claim their Liquidity Provision, or…