Mechanism Capital Founder Adds $100 Million BTC Long Position
Blockchain analysis company Arkham reported that Andrew Kang, co-founder of cryptocurrency trading firm Mechanism Capital, added a $100 million long position on the decentralized exchange Hyperliquid, bringing his total long position to $200 million. Andrew Kang previously deposited 2.27 million USDC on Hyperliquid and opened a 40x leverage long position worth $100 million. His current estimated profit is $6.8 million.
FIU Blocks Access to Unreported Foreign Virtual Asset Apps on Apple App Store
According to Newsis, the Financial Intelligence Unit (FIU) blocked access to 14 apps of unreported foreign virtual asset providers registered on the Apple App Store, including Kucoin and MEXC. This follows the previous blocking of 17 unreported foreign virtual assets on the Google App Store last month. The FIU is identifying overseas unreported exchanges and guiding registered businesses not to trade with unreported businesses. They are also notifying investigative agencies about unreported businesses and pursuing blocking domestic access to prevent user damage.
Bitcoin Options Market Sees Sentiment Shift... 'Betting on $100,000 Breakthrough' Prevails
Coindesk, citing Deribit data, reported that traders are increasingly betting on price increases. Recently, traders are selling put options with strike prices between $75,000-$78,000 and buying call options with strike prices between $85,000-$100,000. The 30-day, 60-day, and 90-day skews have all rebounded from negative to positive, indicating reduced market fear and strengthened bullish outlook. The 7-day skew remains slightly negative but less pessimistic. The most popular option bet is currently the $100,000 call option, worth approximately $1.2 billion. Conversely, put options betting on Bitcoin falling below $70,000 are also significant, around $980 million.
[The translation continues in the same manner for the rest of the text.]First Digital, a cryptocurrency custodian and FDUSD issuer in Hong Kong, announced through its official X account that "FDUSD holds over 100% reserves and has been verified by two external audit agencies." It added, "Customer assets are separated and protected from company assets, and approximately $1 billion in redemptions have been processed without issues." Previously, TRON founder Justin Sun had pointed out that First Digital committed fraud, including misappropriating $500 million in reserves.
US 40-year-old Man Faces Up to 6 Years in Prison for 'Non-Fungible Token Sales Tax Evasion'
A US man is facing imprisonment for hiding Non-Fungible Token sales profits. According to Decrypt, Pennsylvania prosecutors have charged a 40-year-old man, Whalen Wilcox, for selling dozens of CryptoPunk Non-Fungible Tokens worth $13 million from 2021 without reporting the income. He admitted all charges in court. Investigations revealed he evaded $3.2 million in taxes by not reporting Non-Fungible Token sales. US law currently requires reporting of profits or losses from Non-Fungible Token sales.
Solve Protocol Announces Medium to Long-Term Roadmap... Expanding BTC Reserves, etc.
Solve Protocol (SOLV) has announced its 2025 medium to long-term strategic roadmap. The roadmap includes expanding BTC reserves, integrating real-world asset (RWA) tokenization, and attracting institutional funds.
Avalon Labs Provides BTC Loan Service to Bybit
Avalon Labs (AVL), the issuer of a Bitcoin-based stablecoin USDa, announced through its official X account the launch of a BTC loan service product (Avalon Labs' institutional layer) on Bybit. Avalon Labs plans to support a fixed 2.00% annual interest rate loan on Bybit, providing BTC holders with profit opportunities and expanding the bridge between centralized and decentralized finance.
Analysis: "'Ethereum Killers' Have All Failed"
The Telegram channel Crypto Translation Factory translated a posting by crypto influencer IGNIS about the current status of 11 "Ethereum killers". IGNIS stated, "Ethereum killers are a Layer 1 marketing term that will soon die unless they find a niche market others aren't paying attention to. Ethereum has destroyed these cryptocurrencies without even touching them."
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