A crypto trader turned $6,800 into $1.5 million with a one-sided quoting strategy, dominating over 3% of maker volume on a major exchange in just two weeks. A little-known crypto trader has turned $6,800 into $1.5 million in profit while accounting for over 3% of maker-side liquidity on a major crypto exchange. Market observer Adverse Selectee highlighted a small trading account holding less than $200,000 in equity on Thursday. Over the past two weeks, the account recorded a trading volume of $1.4 billion and has consistently ranked among the top contributors to the exchange’s total maker volume. The performance dashboard shows that the trader appears to quote only one side of the order book at a time — either bids or asks — rather than balancing both. Read more
Bitcoin Treasury Corporation completed a $92 million raise and bought 292.8 BTC ahead of its trading resumption on the TSX Venture Exchange. Canadian Bitcoin lending company Bitcoin Treasury Corporation (BTCT) will officially resume trading on the Toronto Stock Exchange (TSX) Venture Exchange, TSX’s public venture capital marketplace for emerging companies. The company announced on Thursday that its common shares would be freely traded on the exchange from Monday under the ticker “BTCT,” with over 10 million shares issued and outstanding. The company had already sold more than 10 million BTCT shares. The trading resumption follows a brokered offering that raised 125 million Canadian dollars ($92 million) in gross proceeds. Read more
XRP price fundamental and technical indicators are giving bulls hope that the current consolidation sets the stage for a move toward $5. Key takeaways: Ripple’s “multiple acquisitions” and XRPL upgrades back the bullish case for XRP. CME XRP futures hit $542.8 million in volume during the first month. Read more
Bitcoin long-term holder supply has increased at a record rate over the past month, data from CryptoQuant reveals. Key points: Bitcoin long-term holder supply has increased by a record 800,000 coins over the past 30 days. Data shows that even a 750,000 BTC increase has only occurred six times in Bitcoin’s history. Read more
Bit Digital’s stock plummeted after announcing a $150 million share sale and a transition from Bitcoin mining to Ethereum staking. Former Bitcoin mining firm Bit Digital fell sharply this week, with its share price tumbling almost 19% over the five-day period to close at $1.99 on Friday, with a 15% drop in just 24 hours. The plunge follows major company announcements, including a $150 million public offering and a strategic pivot to Ether staking. On Thursday, the company announced a public offering of 75 million ordinary shares that is intended to raise $150 million. Bit Digital plans to issue the 75 million ordinary shares at $2 each. The proceeds will be used to purchase Ether (ETH), doubling down on its previous decision to shift to an Ethereum-focused company. Read more
If successful, Genius Group’s $1 billion lawsuits could net shareholders $7 per share while boosting the company’s Bitcoin holdings by 5,000 BTC. Artificial intelligence-driven edtech firm Genius Group plans to distribute potential winnings from billion-dollar lawsuits to shareholders and use a portion to expand its Bitcoin treasury, the company said. In a Thursday press release, the board of directors at Genius Group approved the distribution plan for repurposing any wins from two lawsuits that seek combined damages of more than $1 billion. One lawsuit has been filed under the Racketeer Influenced and Corrupt Organizations Act (RICO), which seeks damages of over $750 million against LZGI International. The second is yet to be filed, according to Genius Group’s CEO, Roger Hamilton. Read more
UK-based The Smarter Web Company has made a multimillion-dollar raise just days after it purchased $20 million worth of Bitcoin to bring its holdings to over 540 BTC. UK-based web design and marketing firm The Smarter Web Company has raised 41.2 million British pounds ($56.59 million), days after it purchased 196 Bitcoin to add to its growing holdings. The firm said on Thursday that the raise came from institutional investors via accelerated bookbuild, a process where a company raises capital quickly, usually within one or two days, without any marketing push. The Smarter Web Company raised 36.27 million British pounds ($49.8 million) with the bookbuild and a further 4.97 million British pounds ($6.82 million) by subscription. The offer price was 2.9 British pounds ($3.98) per share. Read more