Here we go again. Bitcoin (and just about everything else) crashed 15% during a 7 minute period when a whale or whales unloaded their BTC. At around 5:26 PM PST, Coinbase went down as well, but service was restored by 6:14PM.
Apparently, whales started liquidating their BTC positions in $2 million chunks just as the clock struck 5 PM in California. Bitcoin dropped from $9561 to $8570 in just under 30 minutes, before perking up to $8770, where it appeared to level off as of this writing.
$2,685,542 worth of #bitcoin SHORTED @ $8,599.47 [10/05/20 00:56:58]
The crash was met with predictable reactions all the way around. New York University Economics professor Nouriel Roubini did his usual Dr. Doom thing: "Massive pump & dump, spoofing, front running, wash trading! Total scam!" BlockFi CEO Zac Prince tweeted that he had been eating dinner and "missed the pure bottom here..but still glad to pick up more under 9k." And CNBC Crypto Trader host Ran Neuner wryly tweeted, "Is it the end of Crypto again?"
Expect more thrills and chills and outlandish whalish behavior as we head into Bitcoin's halving next week.
Bitcoin crashes by 15% in 7 minutes on NO news: a rigged, totally manipulated, whales-controlled market where most transactions (90%) volumes are false as exchanges pretend to have liquidity they don't have. Massive pump & dump, spoofing, front running, wash trading! Total Scam!
Crypto asset manager 21Shares applied for an exchange-traded fund tracking the price of Sui, according to a filing with the U.S. Securities and Exchange Commission on Wednesday.
The 21Shares Sui ETF aims to broaden investorsβ access to the native token of the layer-1 network designed for high-speed transactions, which has been dubbed by some as a βSolana Killer.β
The filing named Coinbase as a custodian to safeguard investorsβ funds, according to the registration statement, but did not specify...
New CertiK estimates suggest about $364 million was lost through crypto hacks, scams and exploits in April alone.
The cybersecurity firm says the vast majority of this total, $337 million, is related to phishing attacks.
#CertiKStatsAlert π¨
Combining all the incidents in April weβve confirmed ~$364M lost to exploits, hacks and scams after ~$18.2m was returned.
KiloEx, Loopscale and zkSync all had funds returned by whitehat exploiters.
~$337M of the total is attributed to phishing.
More⦠pic.tw...
Anthony Pompliano, a high-profile crypto investor and social media personality, is looking to take his influence publicβliterally.
ProCap Acquisition Corp., a blank-check company led by Pompliano, filed paperwork with the U.S. Securities and Exchange Commission on Wednesday to raise $200 million in an initial public offering.
The company plans to trade on Nasdaq under the ticker βPCAPU,β with each $10 unit comprising a Class A ordinary share and one-third of a warrant.
Bitcoin Rewards App Fold...
