🚨🌊 BTC Crash: $300M Wiped Out in Liquidations

Jun 25, 2024

What’s Poppin’?

Fears over Mt. Gox disbursements, significant outflows from spot ETFs, and bitcoin miner selling sent the price of bitcoin lower.

Even though some industry leaders say that the airdrop meta is over, there’s clearly still a lot of interest.

The total value of tokenized treasury product tokens has reached $1.72 billion, more than double the $778 million figure at the year’s start.

🔄 Riot Platforms abandoned its takeover bid for Bitfarms and is now seeking to restructure Bitfarms' board for future negotiations.
❌ Tether will stop minting its USDT stablecoin on the Algorand and EOS blockchains due to low usage and community interest, though redemptions will continue for the next year.
🚶‍♂️ Kanav Kariya, president of Jump Crypto, announced his departure from the firm, which comes only days after reports of the CFTC investigating the firm.
🐧 Billionaire Mark Cuban sold a Pudgy Penguin NFT for over $30,000, along with several other NFTs, while still holding approximately 1,600 items in his OpenSea wallet.
🚀 Ethereum layer 2 network Blast launched a foundation to govern its protocol, with more details to be revealed alongside its upcoming token airdrop on June 26.
📈 ZKsync announced an "elastic chain" architecture as part of its “3.0 roadmap,” transitioning from a single ZK rollup chain to a network of interoperable chains.

🤖 Coatue Management is investing $150 million in bitcoin miner Hut 8 to develop AI infrastructure, boosting Hut 8's and other mining-related stocks.
💡 Allora Labs, formerly known as Upshot and had been developing an NFT appraisal platform, raised $3 million to launch its decentralized AI network, bringing its total funding to $35 million.

*All data as of today, 07:07 am ET. Source: CoinGecko

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