Latest news with #Lookonchain
Yahoo
3 days ago
- Business
- Yahoo
Ross Ulbricht, The Silk Road Founder Pardoned By Trump Soon After His Inauguration, Receives A Whopping $31 Million Worth Of Bitcoin In Donation Wallet
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. A wallet linked to Ross Ulbricht, the creator of illegal drug marketplace Silk Road, received over $30 million in Bitcoin (CRYPTO: BTC) on Saturday, sparking intrigue among the cryptocurrency community. What Happened: According to on-chain tracker Lookonchain, Ulbricht's donation wallet received a transfer of 300 BTC, approximately $31.47 million. Hours later, the stash was transferred to another wallet, details about which remained unknown as of this writing. A message sent to the Instagram accounts of Ulbricht and his wife by Benzinga did not receive an immediate response. Trending: — no wallets, just price speculation and free paper trading to practice different after, theories and conjectures arose, with observers making various claims. A cryptocurrency commentator called CR1337 said, 'You want to tell me that a single entity donated 300 BTC, more than $30M, to Ross Ulbricht, and that this is not just one of his old wallets and he sent it to himself?'Another user, Execute, meanwhile, invoked the ideas of 'freedom, privacy, and justice' while discussing the massive transfer. Meanwhile, Ulbricht has managed to raise nearly $1.3 million in pledged BTC by auctioning off personal items from before and during his imprisonment through the Bitcoin auction platform Scarce City. The items included his prison ID card, prison notebok and artworks he created while imprisoned. Why It Matters: Ulbricht was pardoned by President Donald Trump earlier this year as part of a campaign promise. Ulbricht was serving a double life sentence since 2013 for creating the darknet website Silk Road—a hub of the illegal trafficking of heroin, cocaine, LSD, and other substances, all paid for in Bitcoin. Shortly after the pardon, wallets belonging to Ulbricht were discovered, containing as many as 430 BTC unmoved for over 13 years. Read Next: New to crypto? Get up to $400 in rewards for successfully completing short educational courses and making your first qualifying trade on Coinbase. A must-have for all crypto enthusiasts: Sign up for the Gemini Credit Card today and earn rewards on Bitcoin Ether, or 60+ other tokens, with every purchase. Photo Courtesy: Paopano on Send To MSN: Send to MSN This article Ross Ulbricht, The Silk Road Founder Pardoned By Trump Soon After His Inauguration, Receives A Whopping $31 Million Worth Of Bitcoin In Donation Wallet originally appeared on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
4 days ago
- Business
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Crypto Daybook Americas: Tariffs to Dominate Narrative as BTC ETF Volumes Surge
By Omkar Godbole (All times ET unless indicated otherwise) The recent TACO tease, implying "Trump Always Chickens Out" on tariffs, likely didn't go down well with the President, who raised the stakes in the ongoing trade war on Friday, leading to broad-based risk aversion, which persists as of writing. On Friday, Trump said that on June 4, the U.S. tariffs on imported aluminum and steel would go from 25% to 50%, triggering a broad-based risk-off move across global markets. Bitcoin has since traded in the range of $103,000-$106,000, with little to no excitement in the broader crypto market. Notably, BlackRock's spot bitcoin ETF (IBIT) registered an outflow of $430 million, ending a prolonged inflows streak. "Tariff tensions will likely dominate the macro narrative through June, with meaningful policy deadlines only kicking in from 8 July. In the absence of fresh catalysts, BTC could remain rangebound, with the $100k and $110k levels critical to watch given their status as strikes with the highest month-end open interest," Singapore-based trading firm QCP Capital said. ETFs are becoming increasingly important to the market. Data shared by FalconX's David Lawant shows that the cumulative trading volume in the 11 spot BTC ETFs listed in the U.S. is now well over 40% of the spot volume. The data supports the "Bitcoin ETFs are the new marginal buyer" hypothesis, according to Bitwise's Head of Research - Europe, Andre Dragosch. Meanwhile, on-chain data tracked by Glassnode showed a drop in momentum buyers alongside a sharp rise in profit takers last week. "This trend often shows near local tops, as traders begin locking in gains instead of building exposure," Glassnode said. High-stakes crypto trader James Wynn opened a fresh BTC long trade with 40x leverage and a liquidation price of $104,580, according to blockchain sleuth Lookonchain. In other news, Japan's 'MicroStrategy' Metaplanet announced an additional purchase of 1,088 BTC, and billionaire entrepreneur Elon Musk announced a new XChat with Bitcoin-like encryption. Binance's founder CZ said on X that now might be a good time to develop a dark pool-style perpetual-focused decentralized exchange, noting that real-time order visibility can lead to MEV attacks and malicious liquidations. In traditional markets, gold looked to break out of its recent consolidation, hinting at the next leg higher as Bank of America and Morgan Stanley forecast continued dollar weakness. Friday's U.S. nonfarm payrolls release will be closely watched for signs of labor market weakness. Stay Alert! Crypto June 3, 1 p.m.: The Shannon hard fork network upgrade will get activated on the Pocket Network (POKT). June 4, 10 a.m.: U.S. House Financial Services Committee will hold a hearing on 'American Innovation and the Future of Digital Assets: From Blueprint to a Functional Framework.' Livestream link. June 6: Sia (SC) is set to activate Phase 1 of its V2 hard fork, the largest upgrade in the project's history. Phase 2 will get activated on July 6. June 9, 1-5 p.m.: U.S. SEC Crypto Task Force roundtable on "DeFi and the American Spirit" June 10, 10 a.m.: U.S. House Final Services Committee hearing for Markup of Various Measures, including the crypto market structure bill, i.e. the Digital Asset Market Clarity (CLARITY) Act. Macro June 2, 1 p.m.: Federal Reserve Chair Jerome H. Powell will deliver a speech at the Federal Reserve Board's International Finance Division 75th Anniversary Conference in Washington. Livestream link. June 2, 9:45 a.m.: S&P Global releases (Final) May U.S. Manufacturing PMI data. Manufacturing PMI Est. 52.3 vs. Prev. 50.2 June 2, 10 a.m.: The Institute for Supply Management (ISM) releases May Manufacturing PMI. Manufacturing PMI Est. 49.5 vs. Prev. 48.7 June 3: South Koreans will vote to choose a new president following the ouster of Yoon Suk Yeol, who was dismissed after briefly declaring martial law in December 2024. June 3, 10 a.m.: The U.S. Bureau of Labor Statistics releases April U.S. labor market data. Job Openings Est. 7.10M vs. Prev. 7.192M Job Quits Prev. 3.332M June 3, 1 p.m.: Federal Reserve Governor Lisa D. Cook will deliver a speech on economic outlook at the Peter McColough Series on International Economics in New York. Livestream link. June 4, 12:01 a.m.: U.S. tariffs on imported steel and aluminum will increase from 25% to 50%, according to a Friday evening Truth Social post by President Trump. Earnings (Estimates based on FactSet data) None in the near future. Governance votes & calls Sui DAO is voting on moving to recover approximately $220 million in funds stolen from the Cetus Protocol hack via a protocol upgrade. Voting ends June 3. Uniswap DAO is voting on a proposal to fund the integration of Uniswap V4 and Unichain support in Oku. The goal is to expand V4 adoption, support hook developers, and improve tools for LPs and traders. Voting ends June 6. June 4, 6:30 p.m.: Synthetix to host a community call. June 10, 10 a.m.: to host an analyst call followed by a Q&A session. Unlocks June 5: Ethena (ENA) to unlock 0.7% of its circulating supply worth $14.18 million. June 12: Aptos (APT) to unlock 1.79% of its circulating supply worth $57.11 million. June 13: Immutable (IMX) to unlock 1.33% of its circulating supply worth $13.24 million. June 15: Starknet (STRK) to unlock 3.79% of its circulating supply worth $17.11 million. June 15: Sei (SEI) to unlock 1.04% of its circulating supply worth $10.64 million. Token Launches June 3: Bondex (BDXN) to be listed on Binance, Bybit, Coinlist, and others. June 16: Advised deadline to unstake stMATIC as part of Lido on Polygon's sunsetting process ends. June 26: Coinbase to delist Helium Mobile (MOBILE), Render (RNDR), Ribbon Finance (RBN), & Synapse (SYN). Day 1 of 6: SXSW London June 3: World Computer Summit 2025 (Zurich) June 3-5: Money20/20 Europe 2025 (Amsterdam) June 4-6: Non Fungible Conference (Lisbon) June 5-6: 2025 Crypto Valley Conference (Zug, Switzerland) June 19-21: BTC Prague 2025 June 25-26: Bitcoin Policy Institute's Bitcoin Policy Summit 2025 (Washington) June 26-27: Istanbul Blockchain Week By Shaurya Malwa At 11:26 p.m. on Sunday, billionaire tech entrepreneur Elon Musk tweeted 'Kekius Maximus pit level 117, hardcore rank 1,' and meme-coin traders pounced on frog-themed tokens and low-cap KEKIUS memecoins. The Ethereum version surged over 25% in minutes, pushing its market cap to about $33 million. In comparison, a Solana-based KEKIUS zoomed as much as 30%, showing the same 'Musk effect' despite far lower liquidity. Musk adopted the 'Kekius Maximus' persona on New Year's Eve 2024 and has repeatedly juiced the token with profile changes and gaming references. The name fuses crypto-native 'Pepe the Frog' lore with Gladiator's Maximus Decimus Meridius. These tokens thrive (and falter) on social media hype; they lack solid fundamentals and can reverse just as quickly. HBAR, DOT and LTC lead the majors in terms of growth in open interest in perpetual futures in the past 24 hours. Annualized funding rates for majors remains positive or bullish, except for XLM and TON. On the CME, one-month annualized basis in the BTC futures has pulled back to around 6.5% from the recent high of 9.5%. ETH's basis remains relatively elevated above 8%. On Deribit, BTC and ETH one and two-week options exhibit downside fears. Other expiries show call bias. BTC is unchanged from 4 p.m. ET Friday at $104,642.17 (24hrs: +0.51%) ETH is down 3.78% at $2,480.24 (24hrs: +0.47%) CoinDesk 20 is down 2.28% at 3,028.20 (24hrs: +0.35%) Ether CESR Composite Staking Rate is down 21 bps at 2.97% BTC funding rate is at 0.003% (3.2949% annualized) on Binance DXY is down 0.51% at 98.82 Gold is up 2.19% at $3,372.00/oz Silver is up 1.65% at $33.44/oz Nikkei 225 closed -1.3% at 37,470.67 Hang Seng closed -0.57% at 23,157.97 FTSE is unchanged at 8,768.28 Euro Stoxx 50 is down 0.74% at 5,327.14 DJIA closed on Friday +0.13% at 42,270.07 S&P 500 closed unchanged at 5,911.69 Nasdaq closed -0.32% at 19,113.77 S&P/TSX Composite Index closed -0.14% at 26,175.10 S&P 40 Latin America closed -1.77% at 2,554.48 U.S. 10-year Treasury rate is up 3 bps at 4.44% E-mini S&P 500 futures are down 0.63% at 5,879.00 E-mini Nasdaq-100 futures are down 0.77% at 21,212.25 E-mini Dow Jones Industrial Average Index futures are down 0.56% at 42,056.0 BTC Dominance: 64.62 (0.21%) Ethereum to bitcoin ratio: 0.02375 (-1.17%) Hashrate (seven-day moving average): 931 EH/s Hashprice (spot): $52.3 Total Fees: 3.47 BTC / $364,001 CME Futures Open Interest: 146,575 BTC BTC priced in gold: 31.8 oz BTC vs gold market cap: 9.02% Gold is looking to establish a foothold above the upper end of the falling channel. A potential breakout would signal a resumption of the broader uptrend, offering bullish cues to bitcoin. Strategy (MSTR): closed on Friday at $369.06 (-0.42%), unchanged in pre-market Coinbase Global (COIN): closed at $246.62 (-0.89%), unchanged in pre-market Galaxy Digital Holdings (GLXY): closed at C$24.92 (-7.87%) MARA Holdings (MARA): closed at $14.12 (-3.35%), unchanged in pre-market Riot Platforms (RIOT): closed at $8.07 (-1.34%), -0.25% at $8.05 in pre-market Core Scientific (CORZ): closed at $10.65 (-0.37%), -1.5% at $10.49 CleanSpark (CLSK): closed at $8.63 (-1.71%), -0.35% at $8.60 CoinShares Valkyrie Bitcoin Miners ETF (WGMI): closed at $16.47 (-2.54%) Semler Scientific (SMLR): closed at $40 (-0.2%), +1.72% at $40.69 Exodus Movement (EXOD): closed at $28.5 (-5.97%), +0.39% at $28.61 Spot BTC ETFs Daily net flow: $616.1 million Cumulative net flows: $44.35 billion Total BTC holdings ~ 1.20 million Spot ETH ETFs Daily net flow: $70.2 million Cumulative net flows: $3.06 billion Total ETH holdings ~ 3.66 million Source: Farside Investors The chart shows that the cumulative volume in U.S.-listed spot BTC ETFs as a share of the total bitcoin spot market volume has risen to record highs. The data supports the "Bitcoin ETFs are the new marginal buyer" hypothesis. Metaplanet Acquires 1,088 Bitcoin to Bring BTC Stash to Over $930M (CoinDesk): The Japanese firm paid an average of 15.5 million yen ($108,051) per bitcoin for its latest purchase, bringing its total holdings to more than 8,888 BTC. Post Pectra 'Malicious' Ethereum Contracts Are Trying to Drain Wallets, But to No Avail: Wintermute (CoinDesk); EIP-7702 lets Ethereum wallets act like smart contracts, but over 97% of delegations use identical code tied to wallet-draining attacks, highlighting growing security concerns. Taiwanese Crypto Exchange BitoPro Likely Hacked for $11M in May, ZachXBT Says (CoinDesk): The blockchain analyst claims the tokens allegedly stolen on May 8 were funneled through Tornado Cash, Thorchain and Wasabi Wallet to obscure their origin. China Hits Back Against Trump Claims That It Broke Trade Truce (The Wall Street Journal): Responding to Trump's accusation that China violated the Geneva trade truce, Beijing blamed the U.S. for escalating tensions, citing new export controls and student visa restrictions. Ukraine and Russia to Meet for Second Round of Talks as Attacks Escalate (The New York Times): As Russia and Ukraine meet today in Istanbul, both sides remain entrenched under pressure from Trump, with no mutually acceptable terms for a peace deal likely to emerge. Putin's Central Banker Under Pressure to Cut Record-High Rates (Bloomberg): Officials want rates cut from 21% as high borrowing costs squeeze civilian industries, but with inflation easing mainly due to a stronger ruble, policymakers remain cautious about loosening too soon.
Yahoo
4 days ago
- Business
- Yahoo
Silk Road's Ulbricht receives 300 BTC donation
-- Ross Ulbricht, the founder of Silk Road, has received a donation of 300 Bitcoin (BTC) from an anonymous source. This donation, tracked by blockchain firm Lookonchain, was sent to Ulbricht's wallet early on Sunday. At the time of the transaction, the donated coins were valued at approximately $31.4 million. The transaction was followed by a transfer of the majority of these coins to the cryptocurrency exchange Kraken, as indicated by data from Arkham. This happened within a few hours of the initial donation. Ulbricht, who was pardoned and released from prison by President Donald Trump on January 21, made his first public appearance since his release at the Bitcoin 2025 conference over the weekend. His life sentence was fully and unconditionally pardoned by the former president, following his conviction for creating and operating the Silk Road, a notorious online marketplace for illicit goods. Related articles Silk Road's Ulbricht receives 300 BTC donation Bitcoin price today: dips to $105k as Trump tariff uncertainty spurs profit-taking What's next for Bitcoin? Analysts react to Trump Media's $2.5B Treasury plan Sign in to access your portfolio
Yahoo
24-05-2025
- Business
- Yahoo
Sui's largest DEX suffers massive $260M exploit
The Sui blockchain is presently reeling from considerable panic following a targeted attack against its primary liquidity provider, Cetus Protocol. The exploit extracted de facto control over SUI-denominated liquidity pools, compromising liquidity pools designed to maintain liquidity in the ecosystem. This led to widespread fund drainage and chaos in the marketplace. The Cetus Protocol confirmed a theft of approximately $223 million, out of which it has successfully frozen $162 million. The team is working with the Sui Foundation and other ecosystem members to recover the rest of the stolen funds, it said. On-chain analyst Lookonchain, on the other hand, estimated that more than $260 million has been lost. The exploiter is converting stolen funds into USDC and choss-chaining to Ethereum. The SUI/USDC pool was drained of around $11 million in liquidity. As liquidity pools have evaporated, trading volumes have, and most trades on decentralized exchanges (DEXs) have begun to fail, leaving users incapable of either buying dips or exiting positions at all. Overall market sentiment for tokens has turned sharply negative, and panic is spreading among SUI holders. The market confidence has been shaken to the core. Binance co-founder Changpeng Zhao "CZ" wrote on X, "We are doing what we can to help SUI." As the news of the Cetus exploit gained traction, the SUI token immediately fell nearly 10% to $3.82. It took some time to recover and was trading at $3.93 at the time of writing. The token is nonetheless still more than 63% up over a month. As per DEX Screener, SUI-based tokens plunged as much as 90% following the exploit. However, it was the CETUS token that had a drastic free fall as it immediately dipped nearly 40% to $0.1586. The token was trading at $0.1755 at the time of writing. Sui's largest DEX suffers massive $260M exploit first appeared on TheStreet on May 22, 2025 Sign in to access your portfolio
Yahoo
22-05-2025
- Business
- Yahoo
Crypto Trader Opens $1.1B Long Bitcoin Bet on Hyperliquid Using 40X Leverage
A single trader has opened a massive $1.1 billion notional long position on bitcoin (BTC) using 40x leverage on the onchain decentralized exchange (DEX) Hyperliquid, a rare instance of a ten-figure position being open entirely on a blockchain-based platform. The trade is tied to wallet address '0x507,' belonging to pseudonymous trader 'James Wynn' on the platform. Lookonchain data shows the position was opened at an entry price of $108,084, with a liquidation level just under $103,640 — meaning if BTC drops to that price, the position could be wiped out. The trade is sitting on over $40 million in unrealized profit as of early Thursday. Wynn closed 540 BTC (~$60M) in European morning hours to lock in a $1.5 million profit. Notably, his past three exits were followed by sharp BTC pullbacks and traders may want to watch for a repeat, Lookonchain said. Hyperliquid is built on its own high-performance layer 1 blockchain, HyperEVM, and offers features typically reserved for centralized platforms, like real-time order books, deep liquidity, and near-zero gas fees. Its consensus mechanism, HyperBFT, reportedly handles over 200,000 transactions per second, allowing traders to execute quickly and transparently. Unlike centralized exchanges that require KYC or restrict access, Hyperliquid allows anyone with a wallet to trade permissionlessly. The platform has rapidly gained popularity for its speed and capital efficiency, and this billion-dollar position may serve as a signal to other large players exploring onchain execution. In many ways, it also marks a new phase of capital migration from centralized finance to decentralized finance (DeFi) — one where whales, not just retail, are willing to place big bets outside the traditional system. Hyperliquid's HYPE is up 15% in the past 24 hours as demand for the token increased.
