Tether, that institution of quiet industry, has been diligently “printing” USDT with an almost frantic energy, pushing its market capitalization to heights previously unimagined. And naturally, where does this abundance of digital currency flow? Straight onto exchanges, naturally! As if preparing forâŚsomething.
Itâs not like this is a one-off, either. Nope. Fitell is just the latest in a growing list of companies whose stock prices have taken a nosedive after buying crypto. Earlier this week, Helius Medical Technologies dropped almost 34% after buying a chunky $175 million worth of Solana. Nice timing, guys. Canât make this up. đŹ
The culprit? A hacker, or perhaps more accurately, a digital Houdini. CertiK, a blockchain security firm, confirmed that the attacker tricked Ethereum into believing a counterfeit LayerZero Peer was legitimate. This deception allowed the hacker to mint a whopping 5 billion fake GAIN tokens. And what did they do with this newfound wealth? They bridged those tokens to Binance Smart Chain (BSC), of course, and sold them for almost $3 million. Money laundering? Oh, don’t worry, that part was neatly handled via Tornado Cash. Classy.
But lo and behold! After this fancy announcement, noses started twitching and eyes began rolling. “Why on Earth would Pi want to shimmy with Sign?” they asked, frowning like grumpy toads. Our intrepid crypto wizard, Dr. Altcoin (who, I must add, could charm a snake), piped up and revealed that YZi Labs-the new darlings of Binance-had tossed a whopping $16 million into Signâs treasure chest! đ° Now thatâs what I call a trust fall!
In the last 48 hours, wallets brimming with 100 million to 1 billion DOGE tokens gorged on 2 billion coins, as if savoring a feast of digital caviar. This feast, orchestrated by the enigmatic Ali Martinez, was witnessed through Santimentâs spectral lens. The acquisition occurred during a fleeting dip to $0.245, a momentary sigh in the marketâs grand opera.
BTC now lags by a charming 70 days, while gold clings to M2 with the devotion of a Victorian suitor. A tale of two assets, perhaps? Gold, the paragon of risk-off elegance, and Bitcoin, the rakish risk-on rogue.
Swiss asset manager 21Shares has set its Dogecoin ETF, trading under TDOG, before the Depository Trust & Clearing Corporation, now listed on the DTCCâs Active and Pre-Launch roster. Broker-dealers can run their checks-setting up the ticker, smoothing the clearing wires-while the vast machinery pretends to be efficient. đ
Uniswap Labs just dropped The Compact v1, an ownerless ERC-6909 contract thatâs basically the blockchain version of a universal remote. It tackles cross-chain fragmentation by letting blockchains share reusable resource locks. Spoiler: Itâs a âhuge stepâ toward developers building apps that donât make your brain hurt. đ¤Ż
The November 29 unlock will unleash team tokens representing 23.8% of the total supply over 24 months, with analysts warning of about $500 million in monthly selling pressure. Yes, thatâs a lot of receipts and a lot of receipts looking for refunds.
