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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.
- 12:52The White House may nominate Mike Selig as Chairman of the US CFTCChainCatcher news, according to Crypto in America, the White House is about to announce Mike Selig as the nominee for Chairman of the Commodity Futures Trading Commission (CFTC). Selig is currently the Chief Legal Advisor of the SEC Cryptocurrency Working Group and is considered an ideal candidate to coordinate regulation between the SEC and CFTC.
- 12:44BitMine added 202,000 ETH last week, reaching half of its goal to hold 5% of the total ETH supplyJinse Finance reported that, according to the latest update released by Ethereum treasury company BitMine on the 13th, BitMine increased its holdings by 202,000 ETH last week. Currently, BitMine holds a total of 3.032 million ETH, accounting for 2.5% of the total ETH supply, and has achieved its goal of acquiring 5% of the total ETH supply. The average cost price of ETH reserved by BitMine is $4,154. In addition, BitMine also revealed that it still has $104 million in unsecured cash on its books.
- 12:41BitMine increased its holdings by about 20 ETH last week, bringing its total Ethereum holdings to 3.03 million ETH.ChainCatcher news, according to PRNewswire, Nasdaq-listed Ethereum treasury company BitMine Immersion Technologies has disclosed an update on its cryptocurrency holdings. As of Eastern Time, the company holds 3,032,188 ETH and 192 Bitcoin. In addition, the company also holds Eightco Holdings shares valued at 135 million USD.