Latest news with #ParataxisCapital
Economic Times
07-07-2025
- Business
- Economic Times
Bitcoin power shift has large holders dumping 500,000 coins
Tired of too many ads? Remove Ads Crypto TrackerPowered By TOP COINS TOP COIN SETS Solana 12,954.92 ( 2.46 %) Buy XRP 193.79 ( 1.89 %) Buy Ethereum 2,19,585 ( 1.74 %) Buy BNB 56,640 ( 0.59 %) Buy Bitcoin 93,29,221 ( 0.53 %) Buy Popular in Markets 1. The great Bitcoin power shift has large holders dumping 5,00,000 coins Tired of too many ads? Remove Ads A silent transfer of control is reshaping the $2.1 trillion Bitcoin market.A steady stream of sales by long-time whales - miners, offshore funds and anonymous wallets - is being matched almost one-for-one by institutional players like ETFs, corporates and asset managers. The result: Bitcoin is struggling to break out of its record high around $110,000, volatility is evaporating, and its place in the investment landscape is being a flurry of bullish headlines - from corporate treasuries embracing Bitcoin to the Trump administration's full-throated crypto endorsement - the largest digital currency has remained stuck in its trading range for months. Underneath the surface, long-dormant whales have been trimming positions just as institutions ramp up their buying. And this switchover is gradually recasting Bitcoin's identity from a high-octane trade to a slow-burn the past year, large holders, or Bitcoin whales, have offloaded more than 500,000 Bitcoin - worth over $50 billion at current prices - according to data compiled by 10x Research. That's roughly equal to the net inflows into the wildly successful US exchange-traded funds since their approval. And it's not far off from the $65 billion amassed over the past five years by crypto treasury pioneer Michael Saylor and his firm, now known as of these whales trace back to Bitcoin's earliest cycles, when it traded far below current levels. In some cases, whales aren't simply selling, they're swapping tokens for deals tied to the stock market, bypassing the open market."What we're seeing is a churning in the base," said Edward Chin, co-founder of Parataxis Capital. "A less covered driver and potential reason for the churn and increasing network activity seems to be driven by whales converting their BTC into equity exposure through in-kind contributions of BTC into financing transactions tied to the public markets."Institutions - from ETFs and Saylor's Strategy to dozens of corporate imitators - now control about a quarter of all Bitcoin in circulation. Back in 2020, researcher Flipside Crypto estimated that about 2% of the anonymous ownership accounts that can be tracked on the cryptocurrency's blockchain controlled 95% of the digital asset. The power dynamic is shifting fast."Crypto is becoming less of an outlier and more established as a legitimate asset class," said Rob Strebel, head of relationship management at the trading firm DRW, which includes crypto-focused arm Cumberland. Alongside that shift, "we expect to see a compression in volatility."That appears to be already taking place, dampening one of the most alluring aspects of Bitcoin to many traders. A closely watched measure of price swings has declined to the lowest level in about two years, according to Deribit's BTC Volatility Index. The gauge monitors the 30-day forward-looking annualized expectations of the whales cut exposure, ETFs, treasury companies and other institutions combined have absorbed nearly 900,000 coins in the past year, according to 10x Research. These players now hold about 4.8 million coins, out of about 20 million Bitcoin in even as institutions bring stability and legitimacy to the asset class, some observers warn they're also providing the long-awaited exit ramp for whales, raising the risk that it's retail and retirement investors left holding the bag if crypto sentiment falters."The goal for a long time has always been to make Bitcoin a palatable asset for institutional investors to provide exit liquidity in volume so the whales could cash out," said Hilary Allen, a law professor at American University's Washington College of Law, a long-time crypto two straight years in which the price more than doubled, Bitcoin is still hovering around levels reached at the start of the year, despite President Donald Trump's pro-crypto analysts now expect Bitcoin's appreciation to be capped at 10% to 20% a year. That's a far cry from 2017's almost 1,400% surge that pushed the token into the mainstream."Bitcoin is probably more like boring dividend stock over time," said Jeff Dorman, chief investment officer at Arca. "On average it goes higher every year, but by less and less amount. It becomes more of an attractive retirement asset."Still, the picture is incomplete. Not all whale activity is visible, and Bitcoin could prove ever-volatile soon enough, especially if a new market catalyst one big risk right now is imbalance: If Bitcoin whales resume selling at scale while institutional flows plateau, the market could tip into steep declines. Outflows of just 2% in 2018 and 9% in 2022 triggered Bitcoin price drops of 74% and 64%, respectively, according to 10x Research."We are nearing a point where the market is hitting its peak," said Fred Thiel, chief executive officer of Bitcoin miner MARA Holdings Inc., which has yet to sell any of its Bitcoin holdings. "My personal belief, however, is we are in a very different market dynamic today."All told, the shift from anonymous whales to institutional allocators may help sustain the current market dynamic for an extended period."This can go on for a long time - years," said Markus Thielen, CEO of 10x Research. "It's more of a slow grind, where Bitcoin becomes more of a 10%-20% asset. The nature of Bitcoin really changes."
IOL News
06-07-2025
- Business
- IOL News
The great Bitcoin power shift has large holders dumping 500 000 coins
A silent transfer of control is reshaping the $2.1 trillion (R37 trillion) Bitcoin market. Image: File A silent transfer of control is reshaping the $2.1 trillion (R37 trillion) Bitcoin market. A steady stream of sales by long-time whales - miners, offshore funds and anonymous wallets - is being matched almost one-for-one by institutional players like ETFs, corporates and asset managers. The result: Bitcoin is struggling to break out of its record high around $110 000, volatility is evaporating, and its place in the investment landscape is being reshaped. Despite a flurry of bullish headlines - from corporate treasuries embracing Bitcoin to the Trump administration's full-throated crypto endorsement - the largest digital currency has remained stuck in its trading range for months. Underneath the surface, long-dormant whales have been trimming positions just as institutions ramp up their buying. And this switchover is gradually recasting Bitcoin's identity from a high-octane trade to a slow-burn allocation. Over the past year, large holders, or Bitcoin whales, have offloaded more than 500 000 Bitcoin - worth over $50 billion at current prices - according to data compiled by 10x Research. That's roughly equal to the net inflows into the wildly successful US exchange-traded funds since their approval. And it's not far off from the $65bn amassed over the past five years by crypto treasury pioneer Michael Saylor and his firm, now known as Strategy. Many of these whales trace back to Bitcoin's earliest cycles, when it traded far below current levels. In some cases, whales aren't simply selling, they're swapping tokens for deals tied to the stock market, bypassing the open market. 'What we're seeing is a churning in the base,' said Edward Chin, co-founder of Parataxis Capital. 'A less covered driver and potential reason for the churn and increasing network activity seems to be driven by whales converting their BTC into equity exposure through in-kind contributions of BTC into financing transactions tied to the public markets.' Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. 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Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Next Stay Close ✕ Institutions - from ETFs and Saylor's Strategy to dozens of corporate imitators - now control about a quarter of all Bitcoin in circulation. Back in 2020, researcher Flipside Crypto estimated that about 2% of the anonymous ownership accounts that can be tracked on the cryptocurrency's blockchain controlled 95% of the digital asset. The power dynamic is shifting fast. 'Crypto is becoming less of an outlier and more established as a legitimate asset class,' said Rob Strebel, head of relationship management at the trading firm DRW, which includes crypto-focused arm Cumberland. Alongside that shift, 'we expect to see a compression in volatility.' That appears to be already taking place, dampening one of the most alluring aspects of Bitcoin to many traders. A closely watched measure of price swings has declined to the lowest level in about two years, according to Deribit's BTC Volatility Index. The gauge monitors the 30-day forward-looking annualized expectations of volatility. While the whales cut exposure, ETFs, treasury companies and other institutions combined have absorbed nearly 900 000 coins in the past year, according to 10x Research. These players now hold about 4.8 million coins, out of about 20 million Bitcoin in circulation. But even as institutions bring stability and legitimacy to the asset class, some observers warn they're also providing the long-awaited exit ramp for whales, raising the risk that it's retail and retirement investors left holding the bag if crypto sentiment falters. 'The goal for a long time has always been to make Bitcoin a palatable asset for institutional investors to provide exit liquidity in volume so the whales could cash out,' said Hilary Allen, a law professor at American University's Washington College of Law, a long-time crypto skeptic. After two straight years in which the price more than doubled, Bitcoin is still hovering around levels reached at the start of the year, despite President Donald Trump's pro-crypto agenda. Some analysts now expect Bitcoin's appreciation to be capped at 10% to 20% a year. That's a far cry from 2017's almost 1 400% surge that pushed the token into the mainstream. 'Bitcoin is probably more like boring dividend stock over time,' said Jeff Dorman, chief investment officer at Arca. 'On average it goes higher every year, but by less and less amount. It becomes more of an attractive retirement asset.' Still, the picture is incomplete. Not all whale activity is visible, and Bitcoin could prove ever-volatile soon enough, especially if a new market catalyst emerges. Regardless, one big risk right now is imbalance: If Bitcoin whales resume selling at scale while institutional flows plateau, the market could tip into steep declines. Outflows of just 2% in 2018 and 9% in 2022 triggered Bitcoin price drops of 74% and 64%, respectively, according to 10x Research. 'We are nearing a point where the market is hitting its peak,' said Fred Thiel, chief executive officer of Bitcoin miner MARA Holdings Inc., which has yet to sell any of its Bitcoin holdings. 'My personal belief, however, is we are in a very different market dynamic today.'
Economic Times
05-07-2025
- Business
- Economic Times
The great Bitcoin power shift has large holders dumping 5,00,000 coins
A massive power shift is underway in the Bitcoin market, with long-time whales offloading over 500,000 coins even as institutions like ETFs and corporates snap them up. This transition is recasting Bitcoin from a high-risk trade to a slower, more stable investment allocation, with volatility at two-year lows. Tired of too many ads? Remove Ads Crypto TrackerPowered By TOP COINS TOP COIN SETS XRP 190.54 ( 0.64 %) Buy BNB 56,072 ( 0.18 %) Buy Ethereum 2,15,939 ( -0.15 %) Buy Bitcoin 92,55,461 ( -0.27 %) Buy Solana 12,656.05 ( -1.16 %) Buy Tired of too many ads? Remove Ads A silent transfer of control is reshaping the $2.1 trillion Bitcoin market.A steady stream of sales by long-time whales — miners, offshore funds and anonymous wallets — is being met almost one-for-one by demand from institutional players like ETFs, corporates and asset managers. The result: Bitcoin is struggling to break out of its record high around $110,000, volatility is evaporating, and its place in the investment landscape is being a flurry of bullish headlines — from corporate treasuries embracing Bitcoin to the Trump administration's full-throated crypto endorsement — the largest digital currency has remained stuck in its trading range for months. Underneath the surface, long-dormant whales have been trimming positions just as institutions ramp up their buying. And this switchover is gradually recasting Bitcoin's identity from a high-octane trade to a slow-burn the past year, large holders, or Bitcoin whales, have offloaded more than 500,000 Bitcoin — worth over $50 billion at current prices — according to data compiled by 10x Research. That's roughly equal to the net inflows into the wildly successful US exchange-traded funds since their approval. And it's not far off from the $65 billion amassed over the past five years by crypto treasury pioneer Michael Saylor and his firm, now known as of these whales trace back to Bitcoin's earliest cycles, when it traded far below current levels. In some cases, whales aren't simply selling, they're swapping tokens for deals tied to the stock market, bypassing the open market.'What we're seeing is a churning in the base,' said Edward Chin, co-founder of Parataxis Capital. 'A less covered driver and potential reason for the churn and increasing network activity seems to be driven by whales converting their BTC into equity exposure through in-kind contributions of BTC into financing transactions tied to the public markets.'Institutions — from ETFs and Saylor's Strategy to dozens of corporate imitators — now control about a quarter of all Bitcoin in circulation. Back in 2020, researcher Flipside Crypto estimated that about 2% of the anonymous ownership accounts that can be tracked on the cryptocurrency's blockchain controlled 95% of the digital asset. The power dynamic is shifting fast.'Crypto is becoming less of an outlier and more established as a legitimate asset class,' said Rob Strebel, head of relationship management at the trading firm DRW, which includes crypto-focused arm Cumberland. Alongside that shift, 'we expect to see a compression in volatility.'That appears to be already taking place, dampening one of the most alluring aspects of Bitcoin to many traders. A closely watched measure of price swings has declined to the lowest level in about two years, according to Deribit's BTC Volatility Index. The gauge monitors the 30-day forward-looking annualized expectations of the whales cut exposure, ETFs, treasury companies and other institutions combined have absorbed nearly 900,000 coins in the past year, according to 10x Research. These players now hold about 4.8 million coins, out of about 20 million Bitcoin in even as institutions bring stability and legitimacy to the asset class, some observers warn they're also providing the long-awaited exit ramp for whales, raising the risk that it's retail and retirement investors left holding the bag if crypto sentiment falters.'The goal for a long time has always been to make Bitcoin a palatable asset for institutional investors to provide exit liquidity in volume so the whales could cash out,' said Hilary Allen, a law professor at American University's Washington College of Law, a long-time crypto two straight years in which the price more than doubled, Bitcoin is still hovering around levels reached at the start of the year, despite President Donald Trump's pro-crypto analysts now expect Bitcoin's appreciation to be capped at 10% to 20% a year. That's a far cry from 2017's almost 1,400% surge that pushed the token into the mainstream.'Bitcoin is probably more like boring dividend stock over time,' said Jeff Dorman, chief investment officer at Arca. 'On average it goes higher every year, but by less and less amount. It becomes more of an attractive retirement asset.'Still, the picture is incomplete. Not all whale activity is visible, and Bitcoin could prove ever-volatile soon enough, especially if a new market catalyst one big risk right now is imbalance: If Bitcoin whales resume selling at scale while institutional flows plateau, the market could tip into steep declines. Outflows of just 2% in 2018 and 9% in 2022 triggered Bitcoin price drops of 74% and 64%, respectively, according to 10x Research.'We are nearing a point where the market is hitting its peak,' said Fred Thiel, chief executive officer of Bitcoin miner MARA Holdings Inc., which has yet to sell any of its Bitcoin holdings. 'My personal belief, however, is we are in a very different market dynamic today.'All told, the shift from anonymous whales to institutional allocators may help sustain the current market dynamic for an extended period.'This can go on for a long time — years,' said Markus Thielen, CEO of 10x Research. 'It's more of a slow grind, where Bitcoin becomes more of a 10%-20% asset. The nature of Bitcoin really changes.'
Cision Canada
20-06-2025
- Business
- Cision Canada
Parataxis Holdings LLC Announces Definitive Agreement with Bridge Biotherapeutics, Inc. (KOSDAQ: 288330), to Bring Institutionally-Backed, Bitcoin Treasury Company to the South Korean Public Markets:
SEOUL, South Korea and NEW YORK, June 20, 2025 /CNW/ -- Parataxis Holdings LLC ("Parataxis Holdings"), an affiliate of Parataxis Capital Management LLC ("Parataxis Capital" or "PCM"), through Parataxis Korea Fund I LLC and affiliates, has entered into a definitive agreement with Bridge Biotherapeutics, Inc. ("Bridge Bio" or the "Company") to invest KRW 25 billion which would provide Parataxis Holdings a controlling interest in the Company (the "Transaction"). Following the closing of the Transaction, the Company intends to change its corporate name to Parataxis Korea and remain listed on the KOSDAQ. The Transaction is subject to customary closing conditions, including approval by the Company's shareholders. The Transaction would result in the creation of a Bitcoin-native treasury platform in the South Korean public markets that is anchored by institutional investors with significant experience in digital asset investments. As part of the Transaction, Edward Chin, Founder and CEO of Parataxis Holdings, and Co-Founder & CEO of Parataxis Capital, will be joining the Board of Directors of the Company. Andrew Kim, Partner at Parataxis Capital, will assume the role of CEO of the Company and will also join the Board of Directors. James Jungkue Lee, Co-founder of Bridge Bio will continue to lead the core biotech business and serve on the Company's Board of Directors. "Inspired by the growing interest in BTC treasury strategies seen in companies like Strategy in the US and Metaplanet in Japan, we believe institutional interest in this space is increasing globally. We see South Korea as an important market in the evolution of BTC adoption. Our intent is to support institutional access to BTC exposure while emphasizing sound corporate governance and disciplined capital management," said Andrew Kim. "We are incredibly excited to create the first BTC treasury company in South Korea backed by an institutional-grade platform. Given the strategic nature of BTC on the global stage and its finite supply, we believe that building and growing a company like Parataxis Korea and accumulating a BTC treasury will benefit our shareholders as well as the country over the long run," said Edward Chin of Parataxis Holdings. Along with the contemplated Transaction, Parataxis Holdings is closing another fund with substantially the same strategy, and is in the process of launching additional fund vehicles. Parataxis Holdings expects to announce additional details regarding the Transaction after conducting a shareholder meeting expected in August. Shin & Kim LLC, is acting as legal advisor to Parataxis Korea Fund I LLC in the Transaction. Deloitte is acting as financial advisor to Parataxis Korea Fund I LLC in the Transaction. About Parataxis Capital Management and Parataxis Holdings Parataxis Capital Management is a multi-strategy investment firm focused on the digital asset sector. PCM was founded in 2019 and manages multiple commingled hedge fund vehicles and provides sub-advisory services for institutional allocators, family offices, fund-of-funds and high-net worth individuals. Parataxis Holdings is an affiliate of PCM and focused on BTC treasury and other digital asset investment opportunities. Both firms are headquartered in New York City. About Bridge Biotherapeutics Bridge Biotherapeutics, Inc. is a clinical stage biotech company engaged in the development and commercialization of therapeutics for the treatment of ulcerative colitis, fibrotic diseases, and cancers worldwide. The Company was founded in 2015 and was listed on the KOSDAQ in 2019. Bridge Bio is headquartered in Seongnam, South Korea. Forward-Looking Statements: This press release contains forward-looking statements, including but not limited to those relating to the proposed transaction, potential business combination, and the anticipated use of proceeds. These statements are based on current expectations and projections and are subject to risks and uncertainties that could cause actual results to differ materially. There is no assurance that the transaction described herein will be completed as contemplated, or at all. The Company assumes no obligation to revise or update any forward-looking statements after the date of this release, except as required by applicable law. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in any jurisdiction, and should not be interpreted as investment advice or a recommendation regarding any investment decision. Investing involves inherent risks, including the potential loss of principal. Any investment decision must be made solely at the discretion and responsibility of the investor. No representation or warranty, express or implied, is made by the Company with respect to the accuracy of any information contained herein or the achievement of any investment returns or financial results.
Express Tribune
25-02-2025
- Business
- Express Tribune
Crypto market tumbles as bitcoin drops 6%, ether plunges 11% to lows
Listen to article The cryptocurrency market tumbled on with Bitcoin and Ether hitting multi-month lows, as a broader cross-market sell-off and concerns over last week's $1.5 billion Bybit hack continued to weigh on investor sentiment. Bitcoin and Ether slide to multi-month lows Bitcoin, the world's largest cryptocurrency by market value, dropped as much as 6%, falling to $88,245, its lowest level since November and the first time it has slipped below $90,000 since mid-January. Ether, the second-largest cryptocurrency, saw an even sharper decline, plunging as much as 11% to $2,333, marking its lowest price since October. Altcoins struggle as weak sentiment and scandals mount Alongside Bitcoin and Ether, major altcoins such as Solana and Dogecoin also faced heavy losses. Solana dropped 15%, while Dogecoin declined 13%, reflecting a broader risk-off sentiment in the digital asset market. "Crypto is just weak and has been for eight weeks," said Jeff Dorman, Chief Investment Officer at Arca. "Equities, fixed income, and gold have shrugged off negative data, but only crypto keeps falling. Poor sentiment, memecoin scandals, and lack of capital for new token launches are driving this weakness." Since mid-December, most altcoins have lost between 30% and 80% of their value, according to Arca. Solana faces added pressure from token unlock Solana has seen particularly steep losses, losing around $50 billion in market value over the past month. The decline was partially triggered by a controversy involving Argentina's President Javier Milei and a memecoin called Libra, which collapsed in value. Adding to the selling pressure, $1.72 billion worth of SOL is set to be unlocked on March 1, according to research firm Messari. "With continued token unlocks and increased supply, many investors are selling," said Edward Chin, co-founder of Parataxis Capital. "Most traders are already fully invested in altcoins, and any new capital is flowing into Bitcoin. This explains Bitcoin's relative strength and continued market dominance. Without a strong narrative in the altcoin sector, we could see further declines." Bybit fack fallout still weighs on market Ether remains under pressure even as Bybit pledged to fully replenish the estimated $1.5 billion lost to hackers. The Dubai-based exchange reportedly borrowed Ether and appears to have purchased additional tokens to cover the loss, according to a repost on X from Bybit CEO Ben Zhou. Crypto stocks decline alongside market sell-off The broader cryptocurrency downturn also hit crypto-related stocks. Coinbase Global Inc. closed lower for the sixth consecutive day. MicroStrategy fell 5.7%, turning negative for the year. Bitcoin miner MARA Holdings Inc. declined 5.3% on Monday, after dropping 13% last week. Market outlook remains uncertain With ongoing market volatility, token unlocks, and weak investor sentiment, analysts suggest that altcoins may continue to bleed until a new catalyst emerges.
