US Federal Reserve to Disband 'Cryptocurrency Dedicated Team'
According to Walter Bloomberg citing Reuters, the US Federal Reserve (Fed) has decided to abolish the dedicated program that supervised banks' cryptocurrency and fintech activities.
831,056 ETH Awaiting Unstaking... Twice the Amount of Staking Queue
According to the validator queue analysis site ValidatorQueue, currently 831,056 ETH is waiting to be unstaked on the Ethereum Proof-of-Stake (PoS) network, with an estimated unstaking completion time of 14 hours and 10 minutes. In contrast, 355,919 ETH is waiting to be staked, with an estimated staking completion time of 6 hours and 4 minutes. Currently, there are 1,085,264 Ethereum validators, with approximately 35.6 million ETH being staked.
ARK Invest Deposits $150 Million BTC to Coinbase
LookOnChain reported that an estimated ARK Invest address deposited 1,268 BTC ($148.88 million) to Coinbase 30 minutes ago. Exchange deposits are typically interpreted as preparation for trading activities rather than holding.
Bitmain Purchases $130 Million ETH in One Hour
LookOnChain, citing ARKM data, reported that an estimated Nasdaq-listed Bitcoin mining company Bitmain (BMNR) address purchased an additional 28,650 ETH ($130 million) in the past hour. Addresses believed to be associated with Bitmain currently hold a total of 1,174,000 ETH ($5.26 billion).
$103 Million in Futures Positions Liquidated in the Past Hour
Major exchanges liquidated $103 million in futures positions in the past hour.
Over 24 hours, $409 million in futures positions were liquidated.
Chinese Investment Firm Long Ring Capital Estimated to Sell $31.82 Million ETH
LookOnChain reported that an address associated with Chinese investment firm Long Ring Capital (starting with 0x3478) is estimated to have sold 7,000 ETH ($31.82 million) 40 minutes ago. The address currently holds 79,077 ETH ($352 million).
DCG: "Genesis Earned Profits from Collateral Supporting 3AC Collapse... Must Return $105 Million"
According to The Block, cryptocurrency investment firm Digital Currency Group (DCG) has initiated an $11 billion lawsuit against its subsidiary Genesis Global. DCG claims it supported Genesis with a promissory note during the Three Arrows Capital (3AC) collapse in 2022, and as cryptocurrency prices rose, Genesis gained profits from the collateral. DCG has requested the court to order Genesis to return over $105 million. Genesis filed for bankruptcy in January 2023 due to the FTX collapse and previously sued DCG in May, claiming DCG unfairly withdrew large funds just before bankruptcy.
Galaxy Digital to Convert Crypto Mining Facility to AI Data Center... Raises $1.4 Billion
According to The Block, Galaxy Digital (Nasdaq ticker GLXY) has raised $1.4 billion in debt financing to convert its 'Helios' cryptocurrency mining facility in Texas into an AI data center. The funds are for fulfilling a 15-year exclusive lease contract with cloud company CoreWeave (Nasdaq ticker CRWV). Galaxy Digital previously announced plans to convert its mining business to AI computing in November last year.
Glassnode Founder: "Market Makers Depositing to Dump Prices... Opportunity to Build Positions"
Negentropic, the X account of Glassnode co-founders Yan Hepel and Yan Aleman, reported that market makers are depositing Bitcoin and Ethereum to exchanges to manipulate price drops during market weakness. They added, "Such movements often precede the next upward phase. If you missed the first upward phase, use the short-term decline to build a good position."
Manta Network Enters Liquidity Contract with Wintermute
Manta Network (MANTA) announced via its official X that it has entered a liquidity contract with cryptocurrency market-making firm Wintermute. Accordingly, 7.5 million MANTA will be provided to the Wintermute team. Manta clarified that the provided MANTA is a loan with repayment obligations, not a subsidy.
Stratis Pursues Rebranding Focused on DeFi and Gaming
Stratis (STRAX) announced a major rebranding focusing on DeFi and gaming markets. Specific plans include △introducing a wallet with social login not requiring seed phrases △providing fast, fee-free transactions through ZK stack technology △implementing legal tender integration complying with Spanish central bank regulations △pursuing Solplex ecosystem game entry to Epic Games. Stratis plans to reveal its new brand name in the future.
Putin Arrives in Alaska for Meeting with Trump
Walter Bloomberg reported that Russian President Vladimir Putin has arrived in Alaska for a summit meeting with US President Donald Trump. The Trump-Putin meeting was previously reported to start at 4 AM Korean time on the 16th in Alaska. The White House also announced that the Trump-Putin meeting has changed from a 1:1 to a 3:3 format.
Kremlin: "Trump-Putin Meeting to Last Over 6 Hours... Expecting Results"
According to Walter Bloomberg, the Kremlin expects the summit between Russian President Vladimir Putin and US President Donald Trump to last 6-7 hours and anticipates results. The Trump-Putin meeting was previously reported to start at 4 AM Korean time on the 16th in Alaska.
BTC Falls Below $117,000
According to Coinness market monitoring, BTC has fallen below $117,000. On the Binance USDT market, BTC is trading at $116,988.64.
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