The Block
Bankrupt cryptocurrency exchange FTX sold nearly $1 billion worth of shares in Grayscale bitcoin fund since it converted to a spot ETF, according to CoinDesk, which cited anonymous sources.Grayscale’s spot bitcoin ETF has led all others in trading volume, with $2.8 billion worth of outflows.
Higher-cost crypto fund issuers in the U.S. have seen $2.9 billion worth of outflows — compared to $4 billion of total inflows to the new spot bitcoin ETFs since launch — according to CoinShares.Last week, digital asset investment products witnessed minor outflows of $21 million overall — driven by incumbents like the ProShares bitcoin futures ETF and Grayscale’s converted GBTC fund.
Market volatility has resulted in the liquidation of $138 million in leveraged positions on exchanges.The price of bitcoin has dropped 2.8% in the last 24 hours, falling below the $41,000 mark.
Quick Take Ondo said that it aims to address the growing demand in APAC for exposure to U.S. assets through tokenized products.
Quick Take Co-founder and former CEO Do Kwon is currently awaiting extradition from Montenegro, while his U.S. trial is set for late March.
Quick Take Security researchers from Blockfence say they’ve uncovered a sophisticated scam responsible for a sum of $32 million stolen from over 42,000 victims. The scammers create a token with misleading permissions, pump it with fake volume, rug the token once enough outside funds enter, then repeat the process.
Quick Take Chinder is simple: swipe right on the coin’s chart and stats to buy, or swipe left to reject. The experiment works for Solana-based tokens and is powered by Unibot on Solana.
Quick Take MetaMask has introduced a feature to run Ethereum validator nodes on behalf of users with at least 32 eth to spare, powered by Consensys Staking. The service currently advertises an annual yield of about 4%, after taking a 10% fee from earned rewards.
Quick Take Colorado state regulators have sued a Colorado couple in civil court, claiming that they cashed out at least $1.3 million in the “valueless” INDXcoin cryptocurrency they founded to spend on lavish personal expenses. In a video response, Eli Regalado admits to cashing out the funds, saying half the money went to the IRS and the remainder was used on a home remodel ordered by God.
The nine new spot Bitcoin ETFs have accumulated nearly $4 billion in assets under management, with Fidelity and BlackRock’s ETFs neck-and-neck for the top slot, according to preliminary data shared by Bloomberg analyst Eric Balchunas.
