The Block
The bitcoin price has fallen below the $39,000 mark, causing a significant decline in short-term holder profits, according to Bitfinex.This market shift could result in increased sell pressure from the short-term holder cohort, analysts added.
Nine new U.S. spot bitcoin ETFs, excluding Grayscale’s converted fund, now hold over 100,000 BTC in assets under management.BlackRock’s spot bitcoin ETF (IBIT) leads with 40,213 BTC in holdings, followed by Fidelity’s FBTC with 34,152 BTC.
Quick Take Gamee confirmed that its GMEE token contracts on Polygon suffered an exploit that resulted in the theft of 600 million tokens. The Gamee token fell 64% over the past 24 hours, with the exploiter converting the stolen tokens into ETH and MATIC.
Quick Take In June 2023, Texas officials filed enforcement actions against Abra and its CEO for alleged securities fraud and operating under insolvency. Funds frozen on Abra’s accounts amount to around $13.6 million on behalf of over 12,000 clients.
Quick Take The California Democrat sent a letter to Meta CEO Mark Zuckerberg and Chief Operating Officer Javier Olivan on Monday, expressing concern over five trademark applications tied to digital assets that the company has filed over the past year. Rep. Waters has been critical of Meta’s foray into crypto, specifically its Libra stablecoin project
Quick Take An SEC spokesperson provided an update on Monday on how a phony post was able to go out on its X account earlier this month. The agency’s MFA had been disabled over the summer and remained disabled until that post went out, the spokesperson said.
The price of bitcoin fell below the $40,000 mark on Monday to levels not seen since early December.The price of SOL, meanwhile, has decreased by almost 10% in the past 24 hours, falling the furthest amongst major cryptocurrencies.
Quick Take EigenLayer is eyeing a shared security model to enable protocols to launch using a collective pool of re-staked ETH. A future version of EigenLayer will allow re-stakes to be simultaneously used for all network services, deterring potential attackers.
At the time of the lawsuit, John J. Ray lll, CEO of FTX, who has taken over bankruptcy proceedings, said the goal was to unlock value being “suppressed by Grayscale’s self-dealing and improper regulation ban.”
