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Stablecoin Deposit Activity Phase 2 Raises Over $650 Million

2025.11.06 23:00:24

On November 6th, based on on-chain data, after Stable launched the second phase of the deposit pre-sale activity, it has now accumulated more than $650 million. The second phase of the Stable deposit pre-sale activity will be able to accept up to $500 million in eligible deposits. Hourglass stated that deposits made directly through Etherscan or through programming will not be eligible for the Stable pre-sale activity. Such deposits can be withdrawn by using the redeemNonKYC function on Etherscan. The minimum deposit window of $100,000 will be extended by at least one hour.
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A new wallet withdrew 2156 BTC again from Binance, worth $151.21 million

On February 8, Onchain Lens monitoring data indicates that a newly created wallet has again withdrawn 2,156 BTC from Binance, valued at $151.21 million. To date, this address has withdrawn a total of 2,786 BTC from Binance, worth $195.39 million.

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Ark Invest Buys Another $10.7 Million Worth of Bullish Stock on Friday, Sells $22 Million Worth of Coinbase Stock

**February 8 (Friday) — Cointelegraph reports Cathie Wood’s Ark Invest has again adjusted its crypto-linked stock holdings, purchasing ~$10.7 million worth of Bullish shares while selling ~$22 million in Coinbase stock.** Trading disclosures show Ark bought 393,057 Bullish shares across three of its exchange-traded funds (ETFs) on the day. It also sold 134,472 Coinbase shares in the same transaction. This follows Ark’s Thursday (Feb 6) moves, where it acquired ~$17.8 million in Bullish stock and offloaded ~$17.4 million of Coinbase shares.

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Vitalik: ETH is both a Store of Value and one of the most important applications on Ethereum

On February 8, Ethereum co-founder Vitalik Buterin posted on X, noting: “ETH is a store of value and one of Ethereum’s most important applications.”

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Bloomberg Analyst: Bitcoin Still a High-Volatility, High-Risk Asset

On February 8, Bloomberg ETF analyst Eric Balchunas took to social media to share: “It turns out the call that BTC ETF investors are more resilient than many assumed is right—but my earlier take that market volatility would fade was wrong. I’d thought the retail investors drawn in by the ETF would replace the ‘dumb money’ retail crowd from pre-FTX days, thus stabilizing the market. What I missed? Bitcoin OGs are selling in droves. “I originally figured they’d hold tight (HODL) after weathering multiple extreme rallies. Plus, a 450% jump over two years should’ve been a red flag—too much, too fast. We’ve stuck to our view on BTC: it’s still a high-volatility, high-risk asset class, at least for the foreseeable future.”

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CFTC Allows National Trust Banks to Issue a Dollar Stablecoin Under GENIUS Act Framework

On February 8, Cointelegraph reported that the U.S. Commodity Futures Trading Commission (CFTC) has expanded stablecoin regulations to permit national trust banks to issue U.S. dollar-pegged tokens under the GENIUS Act framework.

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A new wallet withdrew 630 BTC from Binance, equivalent to approximately $44.31 million

On February 8, Onchain Lens analytics indicates a newly created crypto wallet withdrew 630 BTC from Binance, valued at roughly $44.31 million.

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