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Quick Take Summary is AI generated, newsroom reviewed. Bitmine purchased $480.7 million worth of Ethereum during the recent market crash. The Ethereum whale purchase boosted sentiment and triggered renewed optimism in a potential crypto market rebound. Analysts believe Bitmine is betting on Ethereum’s long-term value and blockchain utility. The move may signal stronger institutional involvement and the beginning of a fresh accumulation cycle.References BREAKING 🚨BITMINE BOUGHT $480.7 MILLION WORTH OF $ETH

Perhaps the biggest profit from an attack in recent years?

Led by Sequoia Capital and a16z, Kalshi's valuation has soared to $5 billions.

A $60 million market sell-off resulted in a $1.93 billion market cap evaporation.

Leverage is not a profit multiplier, but simply a tool to improve capital efficiency.
- 13:17Brazilian Bitcoin financial listed company OranjeBTC spends $1.94 million to acquire 16 more BTCJinse Finance reported that Brazilian Bitcoin financial listed company OranjeBTC announced it has spent $1.94 million to purchase an additional 16 BTC. As of now, its total Bitcoin holdings have increased to 3,691 BTC, with a year-to-date Bitcoin yield of 1.5%.
- 13:05Certain exchange: Despite the market being severely hit, there is still hope; if Bitcoin holds at $110,000, a rebound may begin.ChainCatcher reported that according to the latest analysis report from a certain exchange Alpha, last week bitcoin dropped from above $126,000 to below $103,310, a decline of 18.1%, triggering the largest nominal value liquidation event in the history of cryptocurrency. However, historically, after such liquidation-driven market sell-offs, the market often experiences a "mechanical" rebound. For bitcoin, if it can recover and maintain above $110,000, it will confirm entry into a stable phase and initiate a rebound target near $117,000 to $120,000; conversely, if it fails to do so, it may face a retest of the $100,000 price area.
- 13:02Sources: SEC Crypto Working Group Chief Legal Advisor Mike Selig Remains Top Candidate for CFTC ChairJinse Finance reported, citing Crypto In America, that the White House is about to make a decision on the candidate to succeed Brian Quintenz as Chairman of the Commodity Futures Trading Commission (CFTC). Two sources close to the process said that Mike Selig, Chief Legal Advisor of the US Securities and Exchange Commission (SEC) Cryptocurrency Working Group, remains the government's top candidate. It is reported that the White House has also begun reviewing potential commissioner candidates to rebuild the five-member committee. The committee is currently led solely by Acting Chair Caroline Pham. After Quintenz was removed last month, industry groups have been pressuring the White House to nominate a candidate who is friendly toward cryptocurrency. Meanwhile, Congress is about to pass a market structure bill that will expand the CFTC's rulemaking authority over the cryptocurrency market. According to sources, the primary criteria for the new candidate include understanding the policies of both the SEC and CFTC, and being able to help the government achieve the goal of coordinating and unifying the regulation of the two agencies. Selig is also a senior advisor to SEC Chairman Paul Atkins. His career began at the CFTC, where he served as a clerk for then-Commissioner Chris Giancarlo, followed by ten years in private practice at Perkins Coie and Willkie Farr & Gallagher, where he was also a member of the firm's digital asset team.