Garrett Jin, the founder of cryptocurrency exchange BitForex, is currently sitting on an unrealized gain exceeding $4 million from a 3x leveraged long position on Bitcoin, according to data from Hyperbot. The position was opened two days ago when Bitcoin was trading at approximately $79,000, with Jin adding a 600 $BTC long. This development comes
Blockchain data from Lookonchain indicates that a portion of the Bitcoin holdings once believed lost after Irish drug dealer Clifton Collins misplaced his wallet keys has begun moving again. A wallet address associated with the holdings transferred 500 $BTC, worth approximately $39.56 million, to Coinbase Prime. Background of the Case Clifton Collins, an Irish national,
Swan Bitcoin CEO Cory Klippsten has pushed back against the recurring characterization of Bitcoin as a Ponzi scheme, arguing that prominent critics have failed to provide a sound basis for the comparison. In a recent statement, Klippsten addressed claims made by economists and financial commentators who have drawn parallels between Bitcoin and fraudulent investment schemes.
Garrett Jin, founder of the cryptocurrency exchange BitForex, which was shut down amid fraud allegations, said Bitcoin is likely to remain rangebound until it can break through a key resistance zone between $80,000 and $82,500. In a blog post published this week, Jin outlined a scenario where BTC could trade sideways for several weeks, allowing
Hanwha Investment & Securities, a South Korean financial services firm, is accelerating its push into digital assets by reorganizing its virtual asset investment unit and establishing a local office in the United States, according to a report from Seoul Economic Daily. The move signals a broader institutional commitment to blockchain-based finance, as the company positions
Bitcoin’s recent price breakout that saw it briefly touch $80,000 from a low of around $62,000 within just a week has helped most of its investors recover from their losses. Following the major price comeback, recent analysis showcased on crypto analytics platform CryptoQuant shows that 69% of its supply is now sitting in profit. Bitcoin
European-listed investment firm Capital B has announced a €21 million ($24.45 million) capital increase aimed at institutional investors, with proceeds earmarked to fund the acquisition of up to 270 additional Bitcoin. If fully executed, the company’s total Bitcoin holdings would rise to approximately 3,415 $BTC, underscoring its continued commitment to a strategic Bitcoin treasury. Capital
Alpha Modus shares fell 25% after the company agreed to issue more than 10 times its existing share count for Bitcoin. The Nasdaq-listed company said 10 non-US investors would contribute 3,170 $BTC in exchange for 51.62 million Class A shares and warrants covering another 51.62 million shares, according to an Aug. 27 SEC filing. The
There has been a notable increase in discussions surrounding a possible Anthropic initial public offering (IPO) in late August, with September often mentioned as the month when the artificial intelligence (AI) giant will hit the stock market. Cryptocurrency traders on the prediction platform Polymarket, however, appear to believe that the firm will not go public