If Bitcoin breaks $108,000, the mainstream CEX cumulative short liquidation pressure will reach $822 million
On June 3rd, according to Coinglass data, if Bitcoin manages to break through $108,000, the cumulative short liquidation intensity on mainstream CEX will amount to $822 million.
Conversely, if Bitcoin drops below $105,000, the cumulative long liquidation intensity on mainstream CEX will reach $635 million.
BlockBeats Note: The liquidation chart does not disclose the exact number of contracts to be liquidated or the precise value of liquidated contracts. The bars on the liquidation chart actually represent the significance of each liquidation cluster in relation to adjacent clusters, that is, intensity.
Consequently, the liquidation chart reveals the extent to which the price of the underlying asset will be influenced when it attains a certain level. A higher "liquidation bar" indicates that when the price reaches that level, it will trigger a more intense response due to a liquidity cascade.
5 minutes ago
OSL Group plans to acquire 90% of Evergreen Crest for $15 million, expanding into the Indonesian crypto market.
On June 3rd, OSL Group (00863) announced that on May 30th, its wholly-owned subsidiary, OSL Midaspay Limited, signed a share purchase agreement with Lau Shu Ming. The agreement was for the acquisition of 90% of the issued shares of Evergreen Crest Holdings Ltd at a cost of $15 million (approximately HK$117 million).
The transaction was settled by the issuance of consideration shares. After its completion, the target company will become an indirect subsidiary of the OSL Group. Currently, the target company operates a digital asset exchange through its subsidiary and holds licenses as an Indonesian futures brokerage and a cryptocurrency exchange. This acquisition will offer a strategic way for the OSL Group to enter the Indonesian digital asset market.
5 minutes ago
Tether and Bitfinex have transferred 21,000 bitcoins to 21 Capital.
On June 3rd, according to Tether's CEO, Tether and Bitfinex transferred 14,000 and 7,000 bitcoins respectively to the Bitcoin investment company 21 Capital this morning.
Previously, on May 10th, Tether had transferred approximately 4,812 bitcoins to 21 Capital to back its initial PIPE financing arrangement.
BlockBeats had previously reported that on April 23rd, Brandon Lutnick, the son of US Secretary of Commerce Howard Lutnick and the chairman of brokerage Cantor Fitzgerald, was collaborating with SoftBank Group, Tether, and the Bitfinex trading platform to set up a Bitcoin investment fund.
The fund is named "Cantor Equity Partners" and plans to raise $30 billion worth of bitcoins through the newly established 21 Capital company. Tether intends to contribute $15 billion, while SoftBank Group and Bitfinex will each invest $9 billion and $6 billion respectively.
5 minutes ago
The SEC Seeks Feedback on WisdomTree Bitcoin Fund's In-Kind Creation and Redemption
On June 3rd, the U.S. Securities and Exchange Commission is in the process of seeking comments. The aim is to determine whether to amend the rules so that the WisdomTree Bitcoin Fund can carry out in-kind creation and redemption.
Previously, the SEC has postponed and sought feedback on the in-kind creation and redemption rules for cryptocurrency ETFs on multiple occasions. These include BlackRock's iShares Bitcoin Trust (IBIT), VanEck Bitcoin Trust, and VanEck Ethereum Trust.
Regarding the WisdomTree Bitcoin Fund, in an announcement made on Monday, the SEC invited individuals to submit written data, views, or arguments within 21 days. The purpose is to explain whether the rule change should be approved or denied.
5 minutes ago
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