Tag: Billion

  • Over $1.1 billion shorts obliterated as Bitcoin hits $118k

    Over $1.1 billion shorts obliterated as Bitcoin hits $118k

    Bitcoin Liquidations

    • Bitcoin saw a 5% daily surge that pushed BTC to a new all-time high above $118,000.
    • The sudden gains had shorts wiped out, with over $1.1 billion in short positions liquidated in 24 hours.
    • A trader on HTX was liquidated for $88 million.

    A spark of bullish momentum has seen Bitcoin smash through the $118,000 mark today, setting a new all-time high.

    The sharp move that had BTC moving from off the $110k low has triggered a massive wave of liquidations, which have wiped out over $1 billion in short positions across the cryptocurrency market in the past 24 hours.

    The surge, fueled by institutional demand, regulatory clarity, and macroeconomic shifts, has sent shockwaves through the crypto space, leaving traders and analysts scrambling to predict what’s next for the world’s largest digital asset

    Shorts see red amid $1.2 billion in liquidations

    Bitcoin, the crypto market’s bellwether, surged to a new all-time high of $118,403 on Friday, July 2025.

    Bitcoin price on the 7-day chart by CoinMarketCap

    Robust institutional demand and $1.18 billion in net inflows to Bitcoin spot ETFs on July 10 highlighted this move.

    Macro headwinds, with investors factoring in possible Fed rate cuts, have also added to the upside fuel.

    This rally triggered a massive short squeeze, with over $1.2 billion in crypto liquidations in the past 24 hours, a 140% increase from the prior day.

    The most dramatic fallout from Bitcoin’s surge was the annihilation of short-sellers.

    Over $1.11 billion in short contracts were liquidated in the past 24 hours, with $635 million tied to Bitcoin and $208 million to Ether, affecting 269,681 traders.

    One notable casualty was a single trader on the HTX exchange, whose $88 million short position was wiped out, underscoring the intensity of the market’s upward momentum.

    Whales make moves as Bitcoin surges

    With Bitcoin breaking a new all-time high, large holders were keen to keep hold of their windfalls.

    It included a Binance whale’s “powerful punch” that helped the market higher. CryptoQuant highlighted this in a post on X.

    “Until recently, whales on the US-based Coinbase exchange were driving the market, but today’s surge was driven by a significant move from a major whale on the Binance exchange,” said CryptoQuant’s DanCoinInvestor.

    While others bought BTC, some scrambled to preserve their positions amid massive liquidations.

    According to Lookonchain, a whale who was down by more than $10 million on a 1,135 BTC or $132.65 million short position, opted to deposit more funds to avoid liquidation.

    The whale added the $5.5 million USDC to his position on Hyperliquid with a new liquidation price of $121,080.

    James Wynn, recently in the headlines for major losses, has also seen positions wiped out in the last 24 hours.

    As BTC eyes further gains, analysts are saying the supply-side dynamics are tightening.

    For instance, Glassnode has noted that long-term holders and smaller entities are accumulating Bitcoin faster than its issuance rate.

    This accumulation, coupled with compressed volatility across all timeframes, has set the stage for Bitcoin’s breakout, with analysts eyeing $120,000 as the next psychological target.



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  • Celsius vs Tether lawsuit moves ahead in US court over $4 billion Bitcoin sale

    Celsius vs Tether lawsuit moves ahead in US court over $4 billion Bitcoin sale

    Celsius vs Tether lawsuit moves ahead in US court over $4 billion Bitcoin sale

    • Celsius claims Tether’s 2022 Bitcoin sale broke contract terms.
    • Over 39,500 BTC were liquidated at $20,656 average price.
    • Claims include breach of contract and fraudulent transfer.

    Celsius Network’s efforts to hold Tether accountable for a $4 billion Bitcoin liquidation just cleared a major hurdle in US court.

    A bankruptcy judge has now allowed Celsius to proceed with legal action against Tether, despite the stablecoin giant’s attempts to halt the case on jurisdictional grounds.

    The lawsuit centres on claims that Tether prematurely and unfairly sold nearly 40,000 BTC during Celsius’s collapse in mid-2022, in breach of a contractual agreement and US bankruptcy laws.

    The ruling could mark a turning point for how global crypto firms are treated in American courts, especially when assets are involved that were managed, sold, or transferred through US-linked systems.

    While the court dismissed some peripheral allegations, it upheld key claims, including breach of contract and fraudulent transfer, allowing Celsius’s case to continue.

    Celsius accuses Tether of early Bitcoin liquidation breach

    The dispute dates back to June 2022, when Celsius was already reeling from the broader crypto market crash. Court filings reveal that Tether had lent money to Celsius and, in return, received collateral in Bitcoin.

    Celsius now alleges that Tether liquidated 39,500 BTC at an average price of $20,656 without providing the contractually required 10-hour notice period.

    The assets, according to Celsius, were liquidated during a time of extreme market volatility, and sold significantly below market value. Celsius claims the early sale resulted in a loss of over $4 billion based on current Bitcoin prices.

    Moreover, the company alleges that Tether later transferred the liquidated BTC to Bitfinex, a platform operated by Tether’s sister company, raising concerns around related-party dealings and asset custody.

    US court rejects Tether’s jurisdictional challenge

    In its defence, Tether had argued that the case should be thrown out because it operates from the British Virgin Islands and Hong Kong. The company said US courts had no jurisdiction over its business.

    However, the judge disagreed, pointing to the fact that Tether used US-based staff, bank accounts, and communication systems in its dealings with Celsius.

    The court ruled that Tether’s actions were sufficiently “domestic” to fall under US legal scrutiny.

    This decision now paves the way for Celsius to pursue several key legal charges including breach of contract, fraudulent transfer, and preferential treatment of certain creditors—allegations that strike at the core of how digital asset lenders and stablecoin issuers operate.

    Broader implications for crypto lending and stablecoin governance

    Legal experts say the outcome of this case could influence the regulatory treatment of stablecoin issuers, particularly in the US.

    If Celsius is able to demonstrate that Tether mismanaged client assets or failed to honour notice periods during market stress, it may prompt calls for stricter oversight on asset liquidation procedures, especially for offshore firms operating through US financial infrastructure.

    The case may also set a precedent for future cross-border lending disputes and clarify whether offshore crypto companies can be held accountable in US bankruptcy proceedings.

    The outcome could therefore impact how other large digital asset firms manage collateral and liquidity risk during market downturns.

    Tether grows market presence amid legal scrutiny

    Despite the ongoing legal challenges, Tether has continued to expand its footprint in the crypto sector. The company recently acquired a majority stake in Twenty One Capital, a firm associated with Strike CEO Jack Mallers.

    This move connects Tether to the third-largest corporate Bitcoin holder globally.

    In another significant development, Tether transferred around 37,230 BTC—currently worth $3.9 billion—to addresses associated with its trading operations.

    The company appears to be consolidating its Bitcoin reserves even as it navigates the legal fallout from the Celsius collapse.

    Meanwhile, speculation continues over Tether’s valuation and a possible initial public offering.

    However, CEO Paolo Ardoino has denied any plans for a public listing, stating that the firm is not preparing for an IPO despite rumoured valuations nearing $500 billion.

    As the Celsius case moves into the next phase, attention will remain on how Tether responds to mounting legal pressure in one of the largest financial disputes in crypto history.

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  • TRON price forecast as USDT supply surpasses $80 billion

    TRON price forecast as USDT supply surpasses $80 billion

    USDT And TRON Symbols

    • USDT supply on TRON has surpassed $80 billion, accounting for over 50% of circulating USDT.
    • TRX price is currently at $0.27, but could rise to $0.44 in the short term amid bullish momentum. 
    • ETFs, partnerships, and network growth are likely catalysts for TRON price.

    TRON (TRX) price is down on the day, but the blockchain project is making headlines elsewhere as the supply of Tether’s USDT on its blockchain has surpassed $80 billion.

    The native Tron token TRX traded at $0.27 on Friday, June 27, with CoinMarketCap showing the price was down under 1%. Intraday highs for the altcoin range around $0.29, and TRON remains in the top 10 by market cap.

    However, the question might be, what does the USDT milestone mean for TRON’s price?

    USDT supply on TRON hits $80 billion

    As the crypto market eyes gains and stablecoin adoption grows, Glassnode has shared details that reveal a dramatic rise in Tether (USDT) supply on the TRON network.

    Notably, the Tether-issued US dollar-pegged token has surpassed the $80 billion supply mark as of mid-2025.

    This marks a significant leap from earlier years, with the supply growing steadily from negligible amounts in 2020 to over $60 billion by 2024, before accelerating sharply into 2025. As seen in the chart by Glassnode, there’s a steep upward trajectory, reflecting TRON’s increasing role in facilitating stablecoin transactions.

    USDT in circulation currently sits at around $157.4 billion. With more than half of the total circulating USDT at $80 billion is dominance that solidifies TRON’s position as a preferred blockchain for stablecoin settlements, outpacing competitors like Ethereum.

    The network’s efficiency and low transaction costs have likely driven this adoption, with institutional and remittance use cases further fueling demand.

    May 2025 saw a record $684 billion in transfer volume, while 283 million USDT transfers this year highlight explosive user adoption.

    TRON price prediction

    Currently priced at $0.27 with a 24-hour trading volume of $407 million, TRON has shown resilience.

    While price has recently dipped from highs of $0.29, bulls have held above the key support level of $0.20 since early January.

    The surge in USDT supply is a bullish signal, as it boosts network usage and attracts more users to TRON’s ecosystem, including DeFi and payment applications.

    Looking at the price outlook, several catalysts could drive TRX’s price higher.

    The potential launch of TRON-based exchange-traded funds (ETFs) could attract institutional investment, mirroring trends seen with Bitcoin and Ethereum.

    Additionally, strategic partnerships—such as collaborations with major financial institutions or further integration with Tether- might prove huge for TRX.

    Recently, it was announced that Tron is eyeing a public listing via a reverse merger. The deal, which reportedly eyes an IPO with Nasdaq-listed SRM Entertainment, will transform TRON into a treasury company.

    Short-term, TRX might test resistance around $0.30. A breakout above $0.30 will allow bulls to target December 2024 highs above $0.44, which formed TRX’s all-time high. Long term, TRON price will eye a rally to $1.



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  • US spot Bitcoin ETFs hit $30 billion in combined net inflows since January launch

    US spot Bitcoin ETFs hit $30 billion in combined net inflows since January launch

    • BlackRock’s IBIT attracted the most at over $600 million followed by Fidelity’s FBTC with $301 million
    • The 12 spot Bitcoin ETFs have brought in a combined $30.35 billion since launching in January

    US spot Bitcoin exchange-traded funds (ETFs) took in $1 billion in daily total net inflows yesterday as Bitcoin inched closer to the $100k mark.

    BlackRock’s iShares Bitcoin Trust (IBIT) saw the most inflows, attracting $608.41 million, according to SoSoValue data. Fidelity’s FBTC followed with $300.95 million. Bitwise’s Bitcoin ETF brought in $68 million and Ark and 21Shares’ ARKB attracted $17.18 million.

    Grayscale’s GBTC was the only one with negative net flows, recording $7.8 million outflows.

    The 12 spot Bitcoin ETFs have earned a combined $30.35 billion since launching in January following approval from the US Securities and Commission (SEC).

    US Spot Bitcoin value. Source: SoSoValue

    Elevated trade among the spot Bitcoin ETFs followed as Bitcoin climbed to the $100k mark on November 22, continuing its bull run.

    The inflows also come after BlackRock launched its options contracts earlier this week. During trading on day one, BlackRock’s options brought in nearly $2 billion, helping to push Bitcoin to more than $94,000.

    Grayscale announced this week that it was also launching Bitcoin ETF options following BlackRock’s impressive debut and a surge in investor interest.

    As trade continues through spot Bitcoin ETFs, it’s becoming clear that these avenues are one of the main ways for investors to hold Bitcoin. According to Bloomberg analyst Eric Balchunas, US Bitcoin ETFs hit $100 billion in assets, adding on X:

    “They’re now 97% of [the] way to passing Satoshi as [the] biggest holder and 82% of [the] way to passing gold ETFs.”

    Elsewhere, in the market, Ethereum is up by more than 7% over the past week at $3,285, Solana has seen a nearly 20% increase at $253, and XRP has risen close to 60% to $1.44 in the same time, according to CoinMarketCap.



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  • BlackRock’s spot Bitcoin ETF hits $40 billion, sets new record in 211 days

    BlackRock’s spot Bitcoin ETF hits $40 billion, sets new record in 211 days

    blackrock ceo larry fink crypto digitalising gold
    • BlackRock’s IBIT reached a new record in 211 days, surpassing iShares Core MSCI Emerging Markets ETF’s previous record of 1,253 days
    • BlackRock’s new record comes two weeks after it hit $30 billion in net assets at the end of October
    • BlackRock is now in the top 1% of all ETFs by assets and is bigger than all the ETFs launched in the past 10 years

    BlackRock has done it again. This time its IBIT spot Bitcoin exchange-traded fund (ETF) has hit a record of over $41 billion in net assets in 211 days.

    News of the milestone comes two weeks after BlackRock reached $30 billion in net assets in 293 days at the end of October.

    Posting on X in October, Bloomberg analyst Eric Balchunas, said what BlackRock has achieved is an “all-time record,” adding “the old record was $JEPI which did it in 1,272 days. $GLD took 1,790 days. Unreal.”

    With BlackRock’s new achievement, it’s surpassed the previous record of 1,253 days held by iShares Core MSCI Emerging Markets ETF, according to Balchunas.

    In a post on X, he said: “[BlackRock’s] now in Top 1% of all ETFs by assets and at 10mo old it is bigger than all 2,800 ETFs launched in the past TEN years.”

    Now, BlackRock holds more than 467,000 Bitcoin, valued at $41.8 billion, according to iShares data.

    Reaching new heights

    The new record comes as Bitcoin reached an all-time high of over $93,000 on November 13 in a continued rally that’s showing no signs of slowing.

    The upward trajectory is partly due to Donald Trump being re-elected as US President earlier this month. Following news of his win, Bitcoin broke the $75,000 mark. It then passed $82,000, and continued to $84,000, before pushing to $87,000 earlier this week.

    In September, Bernstein analysts predicted that Bitcoin would surge to between $80,000 and $90,000 if Trump won the US election. With that prediction having now passed, Bernstein analysts believe Bitcoin could reach $200,000 in 2025, urging investors to “buy everything they can.”

    It remains to be seen how far Bitcoin will go, but for now, it’s showing no signs of slowing down.



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  • MicroStrategy buys 27,200 BTC worth over $2 billion; Bitcoin spikes above $84k

    MicroStrategy buys 27,200 BTC worth over $2 billion; Bitcoin spikes above $84k

    MicroStrategy, the business intelligence company founded by Michael Saylor that;s now the biggest corporate holder of Bitcoin (BTC), has added to its haul of the digital asset.

    On Monday, Saylor announced that the publicly-traded company had acquired another 27,200 BTC for over $2 billion. The news coincided with the surge in Bitcoin price – which reached a new all-time high above $84k.

    Earlier, the world’s largest and most popular cryptocurrency had traded to above $82k. This follows sentiment from the Donald Trump election victory, which continues to create a bullish buzz.

    MicroStrategy its $22 billion in BTC purchases

    The latest Bitcoin purchase for MicroStrategy comes after the company raised $2.03 billion. Earlier, MicroStrategy had revealed plans to raise $42 billion to buy more bitcoins – a scenario that has added to the overall bullish sentiment around the benchmark cryptocurrency.

    Saylor said his company spent these proceeds on buying an additional 27,200 BTC. With this acquisition, which was finalized at the average price of $74,463, MicroStrategy now has a total of 279,420 bitcoins.

    In total, the company has spent $11.9 billion to buy BTC at the average price of $42,692 per coin. At current price of $84,153, MicroStrategy’s Bitcoin holdings amount to over $23.5 billion.

    The BTC has achieved a yield of 7.3% quarter to date and 26.4% year-to-date.

    “Our MSTR treasury operations in the first 10 days of November resulted in a BTC Yield of 7.3%, a net benefit to our shareholders of ~18,410 BTC,” Saylor posted on X.



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  • BlackRock’s IBIT sets record $1.1 billion in daily inflows

    BlackRock’s IBIT sets record $1.1 billion in daily inflows

    • IBIT’s new record comes as Bitcoin achieved a new all-time high of over $76,000 on November 7
    • Dary McGovern, COO of Bitcoin native Xapo Bank, said to CoinJournal that Bitcoin’s new record indicates a “broader shift in institutional confidence” seen by BlackRock’s record net inflows
    • The 12 spot Bitcoin ETFs recorded a daily total net inflow of $1.38 billion, a new record since listing in January

    BlackRock’s iShares Bitcoin Trust (IBIT) exchange-traded fund (ETF) set a new record for inflows, reaching $1.12 billion, topping its previous record of $872 million.

    The new record was noted on SoSoValue and comes when Bitcoin reached an all-time high of $76,677 across major exchanges on November 7. Earlier in the week, Bitcoin broke a new all-time high of $75,317 as voting results signalled a Donald Trump win for the White House.

    BlackRock’s IBIT net assets now account for $34.29 billion, significantly pushing it ahead of its competitors. In October, BlackRock set a new record when its total assets reached $30 billion in 293 days.

    Dary McGovern, COO of Bitcoin native Xapo Bank, said to CoinJournal that Bitcoin’s new record suggests a “broader shift in institutional confidence, with notable market movements such as BlackRock’s record net inflows into its iShares Bitcoin Trust (IBIT),” adding:

    “The growing institutional interest underscores Bitcoin’s increasing recognition as a trusted asset class, driven by rising global demand and mainstream adoption. As more investors seek exposure to digital assets, Bitcoin’s role as a store of value and a potential hedge against inflation becomes ever clearer.”

    The 12 US spot Bitcoin ETFs recorded a daily total net inflow of $1.38 billion, also a new record since listing in January.

    Nearing Satoshi’s wallet

    Bloomberg ETF analyst Eric Balchunas noted BlackRock’s new record in a post on X, saying: “Even I am surprised it’s that big, by far biggest one day flow of any BTC ETF ever.”

    Balchunas later added that the spot Bitcoin ETFs have taken in a combined $6.7 billion in the past month and $25.5 billion year to date, and are 93% of the way to passing Satoshi Nakamoto’s 1.1 million Bitcoin.

    “This confidence suggests that Bitcoin is now seen as a legitimate hedge and growth asset, particularly appealing amid traditional market uncertainties and as regulatory clarity improves,” said James Toledano, COO at Unity, a self-custody crypto wallet, to CoinJournal. “Just look at pension funds in both the UK and US investing in Bitcoin too. Sentiment has changed massively in such a short space of time.”

    Grayscale’s GBTC, the second-largest by net assets at $16.80 billion, saw a net inflow of $7.31 million. Fidelity’s FBTC reported $190.92 million and Ark and 21Shares saw $17.61 million.



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  • Mt. Gox moves $2.2 billion in Bitcoin as it works to repay creditors

    Mt. Gox moves $2.2 billion in Bitcoin as it works to repay creditors

    • Mt. Gox moved 32,371 Bitcoin to two wallets, amounting to $2.19 billion
    • The movement follows the transfer of 500 Bitcoin worth more than $35 million
    • In October, Mt. Gox announced it was pushing its repayment deadline to October 31, 2025

    Defunct crypto exchange Mt. Gox has moved another $2.19 billion to two unmarked wallets, according to data from blockchain analytics firm Arkham Intelligence.

    Of the $2.19 billion, 30,371 Bitcoin was transferred to wallet 1FG2C…Rveoy. The extra 2,000 Bitcoin was sent to a cold wallet before being transferred to wallet 15gNRV…Aok. According to data from Arkham, the movement of Bitcoin comes five days after the exchange moved 500 Bitcoin worth over $35 million.

    It’s one of the largest movements the exchange has made this year. In May, it was reported that Mt. Gox had transferred over $9 billion worth of Bitcoin to a new wallet. In July, the platform moved a further $2.8 billion. In both of these instances, it was thought Mt Gox’s trustee was preparing for repayment to creditors.

    It may be that this further movement of Bitcoin is related to repaying creditors, something they have been waiting for since a hack caused the exchange to collapse in 2014. In October, Mt. Gox pushed its repayment deadline to October 31, 2025, adding another year from its original date.

    Last month, Mt. Gox said the extended deadline was down to two things: creditors not completing the repayment steps and issues arising from the repayment process.

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  • BlackRock’s spot Bitcoin ETF hits $30 billion, sets new record in 293 days

    BlackRock’s spot Bitcoin ETF hits $30 billion, sets new record in 293 days

    BlackRock launches Ethereum ETF on the B3 stock exchange in Brazil
    • BlackRock takes the lead reaching $30 billion in 293 days. JEPI took 1,272 days and Gold managed it in 1,790 days
    • Spot Bitcoin ETFs could reach one million Bitcoin, surpassing Satoshi Nakamoto by mid-December

    BlackRock’s spot Bitcoin exchange-traded fund (ETF) has hit $30 billion in assets setting a new record of 293 days, showcasing rising interest in crypto investments.

    The milestone from BlackRock comes 10 months after the company launched its spot Bitcoin ETF in January. Then, it was reported that BlackRock had traded $7.5 million shares within the first 10 minutes of launching.

    Now, BlackRock holds more than 417,000 Bitcoin, valued at $30.4 billion, according to iShares data.

    Taking to X, Bloomberg analyst Eric Balchunas, said what BlackRock has achieved is an “all-time record,” adding “the old record was $JEPI which did it in 1,272 days. $GLD took 1,790 days. Unreal.”

    Balchunas also noted that Bitcoin ETFs could reach one million Bitcoin soon. At the time of publishing, the number sits around 983,000. If such a milestone is reached Balchunas believes that the combined spot Bitcoin ETFs could surpass Satoshi Nakamoto’s wallet, which holds 1.1 Bitcoin, by mid-December.

    “That said, anything can happen, eg a violent selloff and all this is delayed albeit still inevitable,” he added. “On flip, if prices keep going up, Trump wins, we could see FOMO could kick in and it all happens faster. Stay tuned.”

    Decentralized prediction market platform, Polymarket, and, more recently, Robinhood, an investment app, have launched data predicting who will win the US Presidential election on November 5.

    At the time of publishing, Polymarket shows former US president Donald Trump in the lead at 67% with Vice President Kamala Harris behind at 33.1%.



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  • Stripe acquires stablecoin platform Bridge for $1.1 billion

    Stripe acquires stablecoin platform Bridge for $1.1 billion

    • Stripe has closed a $1.1 billion acquisition of stablecoin firm Bridge
    • The company re-established support for crypto payments in April, adding USDC on Ethereum, Solana, and Polygon in October 2024

    Stripe has completed the acquisition of Bridge, a stablecoin platform that helps companies and businesses accept payments in stablecoins.

    According to TechCrunch founder Michael Arrington, Stripe’s deal for Bridge is valued at $1.1 billion and is the fintech company’s largest to date. The TechCrunch founder shared the news via X.

    Stripe’s acquisition of Bridge comes after reports of talks for a deal surfaced last week. This also comes after Stripe, which has recently increased its visibility in the crypto space with recent deals such as TaxJar and Lemon Squeezy, unveiled its latest crypto-focused feature.

    The ‘Pay with Crypto’ feature, which integrates Paxos, allows companies to add stablecoins to their checkout systems. It’s a step that has also seen several other platforms partner to bring stablecoin payments to more businesses.

    Stripe had previously halted crypto payments in 2018 before making a re-entry in April 2024. Stripe also partnered with Coinbase to integrate Base, a layer-2 network, in June. In July, the fintech expanded its crypto product to the European Union.

    The most recent milestone saw Stripe re-introduce crypto payments with USDC on Ethereum, Solana, and Polygon.

    Meanwhile, entrepreneurs Sean Yu and Zach Abrams unveiled Bridge in 2022. The platform raised $58 million from venture capital investors, with $40 million secured during a Series A round at a valuation of $200 million.



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