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JUST IN: 🇺🇸🇨🇳 US intelligence finds Nvidia $NVDA CEO Jensen Huang had a 'romantic relationship' with a Chinese spy, FT reports.
CRYPTO 101 Podcast retweeted
🇺🇸 JUST IN: Hyperliquid Strategies, holding $3.5 BILLION in $HYPE, officially files to become a US futures broker.
The Nasdaq-listed firm says a subsidiary has applied to become a futures commission merchant, a broker regulated by the CFTC.
If approved, US customers could trade perpetual futures on Hyperliquid’s permissioned markets through it.
The company says there’s no guarantee on the timing or outcome of the application.
CRYPTO 101 Podcast retweeted
🔥 TODAY: Canton Strategic Holdings’ $CNTN becomes the first tokenized U.S. stock to trade under the SEC’s Innovation Exemption.
The trades ran on TSV LLC, with DRW Cumberland and Flowdesk among the first counterparties.
CRYPTO 101 Podcast retweeted
🚨 BIGGEST SINGLE-DAY WIPEOUT IN US STOCK MARKET HISTORY
$2.8 Trillion has been wiped out from the US stock market today so far, the largest one in history.
Previously, the largest single-day wipeout was of $2.69 Trillion during the Covid crash.
Readers added context they thought people might want to know
The US stock market has lost over $2 trillion today. For comparison, roughly $3.5 trillion was erased on March 16, 2020. finance.yahoo.com/markets/live/s… marketwatch.com/livecoverage/s…
CRYPTO 101 Podcast retweeted
Absolute insanity.
In just 40 minutes, the S&P 500 has now erased -$2 trillion in market cap.
The entire post-Midterm Election rally has been erased in a matter of minutes.
This is one of the fastest market cap losses in stock market history.
CRYPTO 101 Podcast retweeted
Post-Midterms: 51 senators across 31 states are pro-crypto.
One day and 33 called races later, 51 senators have a pro-crypto rating vs. 52 before (counting Alaska where both candidates are pro-crypto)
Dems flipped 7 Republican-held seats -> 4 of those winners have an A from @standwithcrypto
Another sign crypto's becoming bipartisan.
CRYPTO 101 Podcast retweeted
Crypto is showing incredible signs of maturity here. Assets that are directly impacted by election results are getting hammered ($TRUMP, $WLFI, AI-linked miners), while assets that are not ($BTC, $ETH, $SOL, etc.) are doing fine.
A few years ago, people treated crypto as one big hot ball of money. Those days appear to be over. Remarkable.
CRYPTO 101 Podcast retweeted
BREAKING: Michael Saylor's STRC has returned to par for the first time since May! 👀
They will start buying more bitcoin as soon as it goes above $100 🚀
CRYPTO 101 Podcast retweeted
.@Uber completed a first-ever pilot of an onchain liquidity and settlement solution on Canton, a public network.
Working with @HSBC, @FranklnTempletn, @Tradeweb and @FireblocksHQ, Uber liquidated part of its holdings, even on a weekend, while earning yield until disbursement.
CRYPTO 101 Podcast retweeted
Binance says 90% of $6.3 billion hack losses are now covered, plans to resume withdrawals Sunday
CRYPTO 101 Podcast retweeted
JUST IN: 🇺🇸 CFTC proposes new regulations for crypto exchanges to strengthen security against cyberattacks.
CRYPTO 101 Podcast retweeted
UPDATE: We are now seeing substantially larger cross-chain holdings associated with the Binance hack.
Here's the potential selling pressure relative to market cap and 24h trading volume:
• BTC: $1.45B (0.09% of mkt cap, 4.6% of volume)
• ETH: $883M (0.32% of mkt cap, 6.1% of volume)
• TRX: $236M (0.75% of mkt cap, 59.6% of volume)
• SOL: $95M (0.16% of mkt cap, 3.2% of volume)
TRX is particularly concerning, with holdings equivalent to nearly 60% of its daily trading volume.
The absolute BTC and ETH exposure is enormous, but both have significantly deeper markets.
1/ The Binance hack is massive, but the actual market impact could be very different from the headline numbers.
With much of the stolen stablecoins already frozen, the bigger question is which altcoins the hacker can still dump.
I went through the hacker's wallet and compared the holdings against trading volume and market cap. 🧵
CRYPTO 101 Podcast retweeted
Binance’s SAFU fund and Binance’s holdings include a large amount of assets such as BTC and ETH. We are currently buying, through OTC and on-exchange, all the stolen altcoins in fully matching amounts. We will update everyone again once the purchases are complete.
币安的SAFU基金和币安持有币种包括大量的BTC和ETH等资产，目前正在通过OTC和场内买入完全匹配被盗的所有山寨币来完成POR，购入完成后再次为大家同步信息。
Binance has begun recovering affected assets for users and continues to work with law enforcement, issuers, blockchain intelligence firms and industry partners to trace, freeze and recover additional funds.
The company has already publicly committed to cover losses through company funds in the prior announcement.
Binance has already reserved over $6.34B of company funds to cover this incident. $5B of these funds are already held in the exact token assets that were impacted. We are completing the purchase of the remaining amount by buying token assets through market channels and OTC channels. We are doing this to match the format of the remaining token assets and address any asset shortfalls. This step can take longer because some tokens may have low liquidity and OTC settlement also takes time. We will share more progress as soon as we can.
These figures do not include frozen or protected assets, which remain subject to ongoing recovery and verification. Currently, $3bn has been frozen, with thanks to our industry partners. We are working with partners and law enforcement to recover the frozen assets.We will continue to use company resources to cover confirmed shortfall and will provide further verified updates as recovery efforts progress. Ultimately, all user funds will be verified publicly through our Proof of Reserves.
We will weather this storm. Thank you for the support.
