On-chain data suggests that Abraxas Capital, a crypto asset manager, may have sold approximately 1,000 Bitcoin during yesterday’s market decline. According to blockchain analyst EmberCN, the firm deposited the funds, valued at roughly $67.49 million, into the Kraken exchange before withdrawing $52.72 million in stablecoins USDC and USDT. Details of the Suspected Transaction The transaction,
On-chain data reveals that Garrett Jin, the founder of the now-defunct cryptocurrency exchange BitForex, is sitting on an unrealized loss exceeding $11.5 million. The loss stems from a 5x leveraged long position comprising 1,268 Bitcoin (BTC), a trade that has turned sharply against him amid recent market volatility. Details of the Position According to blockchain
The legacy financial and digital frameworks propping up the current internet architecture face an imminent, existential crisis. Evin McMullen, co-founder and CEO of Billions Network, told CoinDesk in an interview during the Proof of Talk conference in Paris that tech giants and global telcos are actively scrambling to deal with an impending collapse of their
WTW, a global insurance broker and risk advisory company, has acquired crypto insurance platform Redefind and launched a digital asset protection service that covers expenses related to forensic investigations, asset tracing and legal recovery efforts following theft or loss. Redefind is a crypto insurance platform that allows individuals and institutions to purchase coverage for digital
Bitcoin fell into the mid-$67,000s on Tuesday, dragging the entire ecosystem of crypto-linked equities with it. Bitcoin shed more than 11% over the past week, crashing below $67,000 for the first time since early April, according to Bitcoin Magazine Pro data. The drop hit crypto treasury stocks with full force. Strategy (NASDAQ: MSTR) tumbled 9.15%
Bitcoin traders are finally taking the price selloff seriously. The cryptocurrency’s fear gauge, the BVIV index, shows it. BVIV, which measures the 30-day implied or expected volatility in the cryptocurrency, surged nearly 20% on Tuesday to 46.45%. That’s the biggest single-day spike since Feb. 5, according to data source TradingView. Here’s why it matters. For
ChainAware.ai, an Artificial Intelligence (AI-Powered) Web3 infrastructure platform, has disclosed its strategic partnership with PROM, the economic layer for autonomous AI agents. This partnership aims to enhance autonomous AI agents to securely transact, coordinate tasks, and exchange services in Web3. https://t.co/tODxqMTUfI x PROM 🤝 We’re thrilled to partner with @prom_io , the economic layer for
Mastercard is expanding its settlement network to support regulated stablecoins, a move that could help bring blockchain-based payments deeper into the plumbing of the global financial system. The company said Wednesday it plans to offer issuers and acquirers additional settlement options, including intraday, weekend and holiday settlement as well as on-chain settlement using regulated stablecoins.