Digital assets manager CoinShares says institutional investors poured hundreds of millions into crypto investment vehicles last week in spite of market-wide sell pressure. In its latest Digital Asset Fund Flows report , CoinShares says that last week, institutional crypto investment products saw net inflows of $308 million. “Digital asset investment products saw a continuation of inflows last week totaling US$308m, although this masks the largest single day of outflows on the 19th December totaling US$576m, with total outflows in the final 2 days of last week at US$1bn.” Source: CoinShares According to CoinShares, last week’s hawkish Federal Open Market Committee (FOMC) release resulted in a $17.7 billion loss in assets under management (AuM) by crypto exchange-traded products (ETPs). “While these outflows may sound alarming, they comprise just 0.37% of total AuM, ranking as the 13th largest single-day outflow on record. The largest single-day outflow took place in mid-2022, when the FOMC interest rate hike prompted US$540m outflows (2.3% of AuM.)” Bitcoin ( BTC ), per usual, led the way with $375 million in inflows. While Ethereum ( ETH ) and XRP products enjoyed $51.3 million and $8.8 million in inflows each, multi-asset investment products, those investing in a basket of cryptos instead of just one, saw a significant uptick in outflows. “The most dramatic flows were from multi-asset investment products, which saw US$121m of outflows last week.” Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: DALLE3 The post Institutional Crypto Products Continue Inflow Hot Streak Despite Market Sell-Off: CoinShares appeared first on The Daily Hodl .
The Santa Claus Rally faces uncertainty as Bitcoin dips to $94,955. Strong trading volumes and mixed on-chain signals suggest a pivotal week ahead.
Japan-based early-stage investment firm Metaplanet continues its Bitcoin (BTC) buying spree. The company announced today that it has purchased 619.7 BTC for $61 million – including fees and other expenses – making it the firm’s largest Bitcoin acquisition to date. Metaplanet Increases BTC Holdings To 1,762 The recent crypto market downturn from its all-time highs (ATH) does not appear to bother Metaplanet, as the Tokyo-listed firm made its largest BTC purchase to date, buying 619.7 BTC worth $ 61 million at an average price of around $96,000. Related Reading: Metaplanet To Expand Bitcoin Holdings With $11.3 Million Bond Sale To recall, Metaplanet started buying BTC earlier this year in May with a purchase of 97.9 BTC. Since then, the company has purchased BTC every month, barring September, and crossed the 1,000 BTC milestone in November. The latest acquisition has pushed Metaplanet’s total Bitcoin holdings to 1,762, bought at an average price of $75,600 per BTC. Notably, this $61 million purchase is nearly double the value of Metaplanet’s previous largest acquisition, which occurred in November and was worth close to $30 million. The company’s consistent BTC accumulation has earned it the nickname “Asia’s MicroStrategy,” in reference to the US-based business intelligence firm known for its aggressive Bitcoin buying strategy. It is worth highlighting that today’s BTC purchase comes a week after Metaplanet raised $60.6 million through two tranches of bond issuance for the purpose of “accelerating BTC purchases.” Metaplanet’s latest purchase also makes its BTC reserves the 12th-largest among publicly listed firms globally. According to Metaplanet’s official announcement, its BTC Yield – a proprietary metric used to measure the performance of its Bitcoin acquisition strategy – stood at 310% from October 1 to December 23. The firm emphasized that this strategy is designed to be “accretive to shareholders.” Despite today’s significant BTC purchase, Metaplanet’s stock price saw little movement, closing at $22.5, down 0.98% for the day. However, on a year-to-date basis, the company’s stock has surged by an astounding 1,982%, reflecting the long-term benefits of its Bitcoin-centric strategy. Bitcoin Supply Crunch To Hasten Adoption? With Bitcoin’s total maximum supply capped at 21 million, the digital asset has solidified its reputation as an inflation-resistant store of value. A recent report highlights that BTC supply on crypto exchanges has hit multi-year lows, indicating that holders are increasingly withdrawing BTC from exchanges, reducing circulating supply and potentially driving prices higher. Related Reading: Bitcoin Adoption Grows As Rumble Unveils $20 Million BTC Treasury Strategy Bitcoin’s scarcity has triggered an unofficial race among corporations – and possibly even governments. For instance, Bitcoin mining firm Hut 8 recently purchased 990 BTC for $100 million, increasing its total holdings to over 10,000 BTC. Similarly, MARA, another Bitcoin mining company, acquired 703 BTC earlier this month, bringing its total holdings to 34,794 BTC. Speculations surrounding a potential US strategic Bitcoin reserve are further strengthening BTC’s supply crunch narrative, which may fast-track its adoption. At press time, BTC trades at $94,003, down 1.5% in the past 24 hours. Featured image from Unsplash, charts from Yahoo! Finance and Tradingview.com
Hyperliquid (HYPE), a decentralized perpetual exchange (DEX) operating on its own Layer 1 blockchain, is currently grappling with significant security concerns after observing abnormal trading activities linked to North Korean hacker groups . Several addresses marked as North Korean hacker have been trading on Hyperliquid, with a total loss of more than $700,000, as first highlighted by @tayvano_, a crypto threat tracker known for his expertise in identifying risks related to North Korean cyber activities. According to @tayvano_, the nature of these transactions suggests that they may be tests of Hyperliquid’s security systems rather than mere financial activity. He expressed his concerns through a post on X. “DPRK’s trading career is…uh….going….. tbh if I was the dude managing Hyperliquid’s 4 validators (or those fucking ghetto ass binaries on gh) I would be shitting my pants right now. Hyperliquid dudes don’t seem worried at all though so I’m sure its fine. DPRK doesn’t trade. DPRK tests,” he explained. Further underscoring the urgency of the situation, @tayvano_ followed up with a strong statement about the necessity for immediate action by Hyperliquid to enhance its defenses. “My offer from 2 weeks ago still stands Hyperliquid. I’m still happy to do it async or via a call. I can even give you one of my super nice happy colleagues if you don’t like me. But a massive amount of harm will come to people if you don’t harden your ass asap,” he warned. Hyperliquid Faces Some Serious Risks Prithvir Jhaveri, founder and CEO of Loch, a personalized crypto portfolio analytics and intelligence platform, provided an assessment of the challenges which Hyperliquid is facing via X. Jhaveri detailed the operational security risks, highlighting the exposure due to the platform’s reliance on a minimal number of validators. “Wallet addresses well-known to be from the North Korean hacker group Lazarus have been testing Hyperliquid. Typically, these addresses perform tests with live funds before coordinating a hack. Their preferred method of approach is phishing. HL has only 4 validators, all running the same code,” Jhaveri reported. He also elaborated on the regulatory challenges that Hyperliquid might face. He discussed the potential for violations of US Office of Foreign Assets Control (OFAC) sanctions and Securities and Exchange Commission (SEC) regulations due to the platform’s interaction with entities from a sanctioned country and its operation as an unregistered broker , respectively. They’re operating financial software that is being used by an OFAC-sanctioned country (DPRK). They can argue that their software is open source and non-custodial, but we’ll have to wait and watch. Moving from 4 validators to 16 could help their case,” he explained about OFAC risks. About the SEC risks, he added: “The SEC could go after HL for operating as an unregistered broker. The good thing for HL is that the next administration’s SEC and Congress are positioned to be pro-crypto and freedom. The issue, however, is that the sponsors for this crypto lobby are directly competitive to HL. HL didn’t take any VC funding. They’re up against the big money that is economically incentivized to protect the interests of the current CEXs (Coinbase and Kraken) and L1s (Ethereum and Solana).” The concentration of market-making activities within Hyperliquid’s own liquidity provider (HLP) is another concern Jhaveri raised, pointing out the risks associated with a centralized approach to liquidity. He warned that any significant exploit could lead to substantial financial loss for customers: “The HyperLiquid Liquidity Provider (HLP) is by far the largest MM by volume […] One bug or exploit and customer funds could vanish quickly.” In conclusion, Jhaveri summarized the strategic position of Hyperliquid amid these challenges. “The HL team has built an incredible product. Trading perps on Hyperliquid is unparalleled in UX. However, the risks they face are not nothing. If they can overcome these, Valhalla is not far away […], but I’m struggling to see the risk-adjusted upside in bidding right now.” he concluded. At press time, HYPE traded at $28.
Robinhood CEO Vlad Tenev recently addressed the company’s approach to cryptocurrencies, specifically its position on holding Bitcoin. Speaking in an interview with Anthony Pompliano, Tenev revealed that internal discussions about maintaining Bitcoin reserves occur periodically. However, the company currently has no plans to add Bitcoin to its treasury for investment purposes. Robinhood CEO Explains Bitcoin Strategy Amid Crypto Expansion In a recent interview , Robinhood CEO Vlad Tenev explained the company’s position on holding Bitcoin as part of its reserves. While the topic of Bitcoin reserves arises periodically during internal discussions, Robinhood does not intend to follow companies like MicroStrategy or Tesla by holding Bitcoin for investment purposes. Tenev emphasized that Robinhood remains focused on its role as a trading platform and not as an investment manager. According to Vlad Tenev, adding BTC to the company’s treasury could complicate investors’ perceptions, casting Robinhood as a “quasi Bitcoin-holding play.” Despite Robinhood CEO statements about not holding Bitcoin for investment purposes, institutional BTC adoption continues to gain momentum. Recently, Matador Technologies announced plans to purchase $4.5 million worth of Bitcoin this month as part of its strategy. The company’s leadership highlighted Bitcoin’s potential as a store of value amid growing concerns over fiat currency devaluation. Stock Correlation With Bitcoin Price Although Robinhood does not hold Bitcoin, its stock (HOOD) has demonstrated a close correlation with Bitcoin’s price movements. The company’s stock price has surged 202% year-to-date in 2024, compared to Bitcoin’s 110% growth in the same period. Robinhood CEO noted that this correlation exists without the need for Robinhood to hold Bitcoin in its treasury. This reinforces the company’s current strategy of providing crypto trading services rather than direct Bitcoin investment. Moreover, Robinhood’s crypto-related revenues are projected to grow by 20% by the end of 2025, according to Bernstein analysts. Cryptocurrencies are expected to account for 38% of the platform’s total revenues, driven by growing user interest and favorable market conditions under Donald Trump’s presidency. More so, the company’s planned acquisition of top crypto exchange Bitstamp is set to close in early 2025. This move will boost Robinhood’s crypto offerings and position the platform as a stronger competitor to exchanges offering more crypto options. Robinhood has traditionally taken a conservative approach to its crypto services. It provides fewer digital assets and trading options compared to its competitors. However, analysts predict that this strategy may evolve as the company integrates Bitstamp and explores new opportunities during the current market cycle. Most recently, Robinhood CEO Vlad Tenev commented on Bitcoin’s rally , highlighting its evolution from being dismissed to a serious financial asset. Speaking on CNBC, Tenev attributed the surge to institutional adoption and Federal Reserve Chair Powell’s comparison of Bitcoin to gold. He also expressed optimism about Paul Atkins’ nomination as SEC Chair. The post Robinhood CEO Vlad Tenev Discusses Bitcoin Strategy and Crypto Focus appeared first on CoinGape .
Corporate Bitcoin investor MicroStrategy continued its aggressive Bitcoin buying spree last week, in line with founder Michael Saylor’s pledge to keep accumulating the cryptocurrency at peak prices. Between December 16 and 22, MicroStrategy acquired 5,262 BTC, investing approximately $561 million, the company announced on December 23. The firm purchased Bitcoin at an average price of roughly $106,662 per BTC, marking the highest cost it has ever paid for the cryptocurrency. As of December 22, 2024, MicroStrategy and its subsidiaries held a total of 444,262 BTC, acquired for a cumulative $27.7 billion at an average price of $62,257 per BTC. The latest purchase is part of a December buying spree, during which the company accumulated 42,162 BTC now valued at $4 billion. However, the latest acquisition accounts for only about 12% of the company’s total December purchases and represents the smallest amount of BTC bought since mid-2024, when it acquired 169 BTC. MicroStrategy’s latest Bitcoin purchase is 191% smaller than the acquisition announced on December 16 and 309% smaller than the one disclosed on December 9. The slowdown in BTC buying coincides with concerns raised by BitMEX co-founder Arthur Hayes about a potential market drop tied to the inauguration of U.S. President-elect Donald Trump. Hayes’ fund, Maelstrom, plans to clear some positions and re-enter the market later at lower prices. Additionally, rumors suggest MicroStrategy may enter a blackout period in January 2025, halting its issuance of shares and convertible bonds to fund further Bitcoin purchases. Despite market uncertainties, Saylor remains committed to Bitcoin. “I’m sure that I will be buying Bitcoin at $1 million a coin — probably $1 billion dollars a day of Bitcoin at $1 million a coin,” Saylor said in early December.
Federal prosecutors say an employee at Oklahoma-based BOK Financial Securities drained millions of dollars directly from customers’ accounts. William Shane Garrow – who was senior vice president and a private banker at BOK until being fired early this year – is accused of embezzling $4,277,227 from at least 16 customer accounts and funneling the funds to himself, FOX23 reports . Garrow, who was hired in 2007, allegedly began committing the crimes on September 9, 2012, and continued all the way to April 10, 2024. He’s accused of draining cash from customer accounts without them knowing and transferring the funds to accounts that he controlled at other financial institutions. He’s also alleged to have written false cashier checks from client accounts and made them payable to himself. If a client noticed discrepancies, Garrow simply told them there was some sort of error, and that BOK would correct it. Says an affidavit seen by FOX23, “[Garrow] knowingly executed, and attempted to execute, a scheme…to defraud a financial institution, and to obtain any of the moneys, funds, credits, assets, and other property owned by…a financial institution.” Garrow is facing one count of bank fraud along with a separate count of willfully making and subscribing a false federal income tax return. In a statement to the media, BOK said it is cooperating with law enforcement. “Shane Garrow’s employment was terminated earlier this year upon the discovery that he had breached company policy. We have conducted a thorough internal investigation and worked with law enforcement on their investigation. Client impact was isolated and remediated upon discovery.” Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Bank Executive Allegedly Drains $4,277,227 From Customers’ Accounts in 11-Year Scheme: Report appeared first on The Daily Hodl .
Welcome to Latam Insights Encore, a deep dive into Latin America’s most relevant economic and cryptocurrency news from last week. This edition examines the confusing agreement signed by El Salvador and the IMF and how Bukele’s actions might jeopardize the disbursement of $1.4 billion for the country. Latam Insights Encore: Bukele’s Bitcoin Gambit Might Put
After a 9.8% drop in Bitcoin’s value over the past week, investors are showing signs of caution, worried about the potential for further declines. Despite this, Japan-based Metaplanet has reaffirmed its confidence by buying nearly 620 BTC. Interestingly, the latest acquisition marks its largest Bitcoin purchase to date. Metaplanet’s Largest Single BTC Acquisition According to the company’s official press release , the acquisition, executed as part of its Bitcoin Treasury Operations, involved the purchase of 619.7 BTC, worth around $60.6 million. This latest transaction brings Metaplanet’s total Bitcoin holdings to 1,761.98 BTC, which is valued at almost $168 million. Over the past six months, Metaplanet has leveraged multiple capital market activities, including stock rights issuances and zero-coupon bonds, to fund its Bitcoin purchases. Most recently, the company raised ¥5 billion, valued at $31.9 million, through its 5th Series of Ordinary Bonds on December 20, 2024. Prior to that, the Tokyo-based investment firm also announced a separate ¥4.5 billion, valued at $28.7 million, bond issuance that is set to mature on June 16, 2025. The firm reported a staggering BTC Yield increase of nearly 310% between October 1 and December 23, 2024, demonstrating the significant growth in Bitcoin holdings relative to its fully diluted shares outstanding. Metaplanet appears to have firmly positioned itself as a key player in a corporate Bitcoin investment even as the broader market sentiment remains bearish. Boost From Bitcoin Metaplanet, often referred to as “Asia’s MicroStrategy,” began accumulating BTC in May, mirroring the strategy of the US-based Bitcoin-focused firm. The company recently revealed that it expects its first operating profit in seven years, thanks to its decision in April to use Bitcoin as a treasury asset. For fiscal year 2024, it forecasts a revenue increase to ¥890 million, worth around $5.8 million, from ¥261 million, and predicts an operating profit of ¥270 million. This marked a significant turnaround after years of losses. A key driver has been its innovative use of Bitcoin put options, which brought in ¥520 million. The firm also benefited from a strong performance at its Royal Oak Hotel in Tokyo. The post Metaplanet Makes Largest BTC Purchase to Date Despite Bitcoin Price Correction appeared first on CryptoPotato .
Multinational financial technology firm Moonpay is reportedly in talks to buy Helio as it looks to bolster its crypto service offerings. According to a scoop shared by Fox Business journalist Eleanor Terrett, the Helio deal is worth about $150 million. If successful, this will mark the largest acquisition made by the Miami-based firm since its inception. Moonpay and Helio as the Power Duo While much detail has not emerged regarding the terms of the deal, many in the ecosystem are already weighing the potential. Notably, Helio will enable Moonpay to compete directly with Coinbase Commerce as a self-service crypto payments outfit. Helio enables content creators and ecommerce merchants to get paid for their products and services using crypto. Among the available products includes Solana Pay, the payments engine powering the DexScreener platform. As Terrett highlighted, the Solana Pay outfit is also integrated into Shopify. SCOOP: @FoxBusiness has learned that #crypto payment services provider @moonpay is in talks to acquire @helio_pay for an estimated $150 million. This would be MoonPay’s largest acquisition to date. Helio is a Coinbase Commerce alternative providing a self-service crypto… — Eleanor Terrett (@EleanorTerrett) December 23, 2024 Moonpay occupies a unique role in the crypto ecosystem. It currently powers a lot of crypto payments services with an extensive partnerships record. As reported by Coingape in October, it landed a Venmo partnership to enable crypto access to 60 million users worldwide. With crypto adoption growing, the need for more merchant integrations have grown considerably. Moonpay is among the infrastructure firms benefitting from these growth and Helio might help amplify this. Growing Corporate Investments in Crypto Since the victory of Donald Trump as president-elect last month, the corporate alignment has increased. Suddenly, companies are beginning to revamp their investment strategies in a bid to benefit from the potential incoming pro-crypto administration. From Justin Sun investing $30 million into World Liberty Financial to Tether’s latest $775 million investment in Rumble, firms are largely diversifying their portfolios. While M&A activities beyond the potential Moonpay deal might appear too formal, the presence of Bitcoin and Ethereum-based ETF products is removing entry barriers for firms. BlackRock invests in IBIT , setting a precedent for state pension funds to also join the trend. Asset management firms are doubling down on other crypto ETF products to grant firms more access to gain exposure to the crypto industry. The post Moonpay In Talks To Acquire Coinbase Commerce Rival Helio: Report appeared first on CoinGape .