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The sale comes a day after ARK sold $50.5 million of the crypto exchange’s stock.
PLUS: A day in the life of Binance’s head of law enforcement training – petty crooks, fake subpoenas, and dodging politically sensitive requests.
The jobs market remains strong, a concern for the U.S. central bank which seems intent on raising the Federal Funds rate 25 basis points.
Ripple's XRP, Solana's SOL and Lido Finance's LDO lost more than 4% in the last 24 hours.
Wall Street banks including J.P. Morgan also saw the ruling as a positive outcome for the crypto exchange.
A U.S. bankruptcy court previously granted the crypto lender permission to sell its altcoin holdings for bitcoin and ether starting in July.
The latest price moves in crypto markets in context for July 17, 2023.
Funding rates in perpetual futures tied to BNB are most negative in nearly three months.
The rising flows into Toronto-based Purpose’s spot bitcoin ETF, which received approval by Canadian regulators in 2021, reflect strong appetite among retail investors for these types of products and are a promising sign for U.S. companies who have recently filed spot BTC applications with the SEC.
- 01:21A certain whale transferred 16,480,000 XRP to an exchange, worth approximately $50.85 million.According to ChainCatcher, Whale Alert monitoring shows that an unknown wallet transferred 16,483,919 XRP, worth approximately $50,856,185, to an exchange 3 minutes ago.
- 01:08Backed Finance CEO: xStocks issuer chooses Switzerland to avoid whitelist restrictions on Tesla tokenized stocksJinse Finance reported that Adam Levi, co-founder of Backed Finance, stated that seeking a balance between compliance requirements and the openness of decentralized finance ultimately led the company to settle in Switzerland. He said the company is registered in Europe because Switzerland allows them to issue digital representations of stocks such as Tesla and Nvidia (referred to as xStocks), which can be freely transferred rather than being subject to so-called whitelist restrictions. Levi recalled, “We looked at five jurisdictions, and lawyers told me, ‘Yes, you can do it, but it will be a whitelist-permissioned model.’ I said, ‘No, I’m not interested. I won’t build it that way because I wouldn’t use it myself.’” In the crypto industry, whitelists are often used to approve individuals to participate in specific events, such as minting NFTs or investing in the initial offering of a cryptocurrency. In the context of tokenized stocks, whitelists can determine who is eligible to hold the digital representations of these stocks.
- 01:08A certain whale bought 18,000 ETH at a price of $4,487 through Wintermute in the early hours today.According to a report by Jinse Finance, on-chain analyst Yu Jin monitored that a whale/institution, which has made $74.92 million in profits from ETH swing trading, purchased 18,000 ETH at a price of $4,487 using 80.77 million USDC through Wintermute in the early hours of today. After the purchase, ETH rebounded to $4,600. In other words, just a few hours after buying, this batch of 18,000 ETH has already yielded an unrealized profit of $2 million. They have already made $74.92 million in profits from swing trading ETH, and currently hold $530 million in USDC and 25,000 ETH (worth $114 million).