On August 16th, **COINOTAG News** reported that a significant **whale address** executed a withdrawal of **124,856 LINK tokens** from **Binance**, totaling an impressive **$2.73 million**. This transaction, noted by **Onchain
The greatly anticipated meeting at the highest levels between the presidents of the United States and Russia failed to reach a conclusion regarding a ceasefire between Ukraine and the world’s largest country by landmass. Nevertheless, Trump said both parties made some good progress on a few points, while Putin categorized the meeting as a “starting point.” This was the first time in almost a decade that the Russian leader set foot on US soil when he attended the UN General Assembly in New York City and met then-President Obama. “There were many, many points that we agreed on … I would say a couple of big ones that we haven’t quite got there, but we’ve made some headway,” Trump said at a joint press conference. Putin said the relationship between the two Great Powers has deteriorated to the “lowest point since the Cold War,” but noted that these talks can be considered a “starting point” for improving it. Before the meeting, Ukrainian President Volodymyr Zelenskyy expressed disappointment that his country would not be represented, as many feared that a potential deal could compromise its sovereignty. “Ukraine is ready to work as productively as possible to bring the war to an end, and we count on a strong position from America … A meeting of leaders is needed – at the very least, Ukraine, America, and the Russian side.” Given the potential significance of the meeting, many experts anticipated a volatile crypto market , especially since it took place after Wall Street had closed for the day. However, this wasn’t the case. Bitcoin’s price had slipped ahead of the meeting to just under $117,000 but stopped its nosedive even as both parties failed to reach a peace conclusion. As of press time, BTC has neared $118,000 once again. The cryptocurrency was impacted a lot more by the hot PPI data that came out the day before, as it dropped from its all-time high of $124,500 to under $118,000 within hours. BTCUSD. Source: TradingView The post Bitcoin Price Unshaken Even as Trump-Putin Peace Meeting Fails appeared first on CryptoPotato .
Venture capital firm Digital Currency Group (DCG) has launched fresh legal action against two of its subsidiaries, intensifying the ongoing fallout from the collapse of Three Arrows Capital (3AC). In a filing to the US Bankruptcy Court for the Southern District of New York, DCG alleged that Genesis Global Capital and Genesis Asia Pacific profited unfairly from a $1.1 billion promissory note tied to the 2022 default of 3AC. The complaint argues that instead of suffering losses, the Genesis entities received “hundreds of millions of dollars” in gains, creating an obligation to return overpayments to their parent company. Background to the Promissory Note DCG issued the 10-year note in June 2022 to cover a potential equity shortfall in Genesis Asia Pacific following 3AC’s failure to meet obligations. At the time, concerns loomed that the collapse of 3AC — one of Genesis’ largest borrowers — would trigger significant liquidity issues. However, according to DCG, cryptocurrency markets later rebounded, increasing the value of collateral held against the loans. That included shares in Grayscale’s Bitcoin Trust, which surged alongside Bitcoin’s recovery. DCG claimed Genesis not only avoided financial damage but ultimately profited from 3AC’s collapse. “[T]he incremental amounts realized by Genesis after issuance of the Note were … far more than sufficient to overcome the prior $1.1 billion collateral shortfall — and, on information and belief, allowed Genesis to profit from [3AC]’s default by recovering nearly $2.8 billion on the original $2.36 billion in [3AC] Loans,” the filing said. Genesis Pushes Back Genesis, however, has rejected the latest complaint, accusing DCG of attempting to rewrite history. “DCG’s unfounded, haphazard and convenient about-face to withhold 3AC distributions is meritless,” said Luke Barefoot, partner at Cleary Gottlieb and counsel to Genesis. “It flatly contradicts the written agreements, DCG’s representations to the bankruptcy court, and the fact that DCG already handed over $100M+ in distributions.” This legal clash follows earlier suits filed by Genesis against DCG, its affiliates, and CEO Barry Silbert. In May, Genesis sought $3.3 billion in damages, accusing its parent company of fraudulent transfers and insider enrichment in the lead-up to bankruptcy. The Wider Market Context The 3AC default was one of several shocks that rattled crypto markets in 2022. The collapse of the Terra ecosystem triggered a cascade of failures, leaving investors with heavy losses and exposing vulnerabilities across the industry. That same year, FTX — once one of the largest exchanges — imploded in spectacular fashion, with executives later indicted for fraud. DCG’s filing referenced the wider turmoil, noting that even without 3AC’s collapse, Genesis would have struggled to survive. “Even had [3AC] not defaulted in June 2022, [Genesis Global Capital] would not have had sufficient capital to withstand the unexpected and devastating market rout that followed the collapse of FTX in November 2022,” the filing stated. Genesis halted withdrawals that month before officially declaring bankruptcy on January 19, 2023. Restructuring and Recovery After months of proceedings, Genesis completed its restructuring in August 2024. The plan involved distributing approximately $4 billion to creditors and other affected parties. While this was seen as a significant step toward closing one of the darkest chapters in crypto lending, disputes between Genesis and DCG remain unresolved. DCG is now seeking more than $105 million plus interest from its subsidiaries, arguing the terms of the promissory note require repayment given the profits made from 3AC’s collateral. Ongoing Legal Battle The latest filing highlights the complex financial web left by crypto’s 2022 crash, with companies still grappling over responsibility for billions lost and gained. For DCG and Genesis, the courtroom has become the battleground for settling questions of accountability. The outcome of this case could have major implications, not just for the firms involved but also for creditors seeking clarity on how recoveries from failed borrowers are handled. With tensions high, the dispute underscores how the ripple effects of 3AC’s collapse and the wider market downturn continue to haunt the sector.
Bitcoin is currently experiencing volatility, having fallen to $117,927 after reaching a peak of $124,533. This decline has resulted in $342 million in liquidations across the crypto market, indicating rising
PI could be poised for a major leg up as its bullish path becomes clear.
Bitcoin remains under the $120,000 price mark following a pullback triggered by remarks from the US Treasury that the federal government will not be purchasing the cryptocurrency. At the time of writing, BTC is valued at approximately $118,612, representing a 4.1% decline from its record high above $124,000 reached earlier this week. The market seems to be currently assessing whether this consolidation phase will lead to renewed upward momentum or extend the correction. Recent blockchain data has brought attention to activity on Binance, the world’s largest cryptocurrency exchange by trading volume. Related Reading: Bitcoin Act Is Still America’s Playbook, Clarifies Senator Lummis Bitcoin Exchange Inflows and Potential Impact According to CryptoOnchain, a contributor to the on-chain data provider platform CryptoQuant, the exchange has recorded one of the seven highest average Bitcoin inflows in recent months. This increase, measured by the Mean Inflow metric, reflects a greater volume of BTC being transferred into Binance wallets, potentially as preparation for selling, using as collateral for leveraged positions, or institutional portfolio adjustments. CryptoOnchain explained that persistent high inflows often indicate that more Bitcoin is moving from private wallets to exchange trading accounts. Without equivalent buying demand to offset this, the increase in supply can create short-term selling pressure. The positive netflow trend, where inflows surpass withdrawals, supports this interpretation, showing that Binance’s Bitcoin reserves are growing. Historically, similar patterns have preceded periods of price volatility, particularly if large holders decide to offload positions or hedge via derivatives markets. If inflows continue at their current pace without a parallel rise in demand, the analyst suggests the market could experience higher short-term downside risk. On the other hand, if these inflows are met with strong buying interest, they could provide liquidity for further price movement. The key factor remains whether the increase in exchange-held BTC is driven by selling intentions or strategic positioning ahead of market developments. Leverage Trends Point to Lower Speculative Risk A separate analysis from another CryptoQuant contributor, Arab Chain, examined Binance’s Estimated Leverage Ratio (ELR) for Bitcoin. The ratio, which measures open interest relative to exchange reserves, recently dropped from its early August peak above 0.27 to around 0.25, before showing a modest rebound. From May to late July, both Bitcoin’s price and the leverage ratio rose together, suggesting heightened participation from traders using larger positions. The recent drop in leverage, despite prices remaining near $119,000, indicates a reduction in speculative exposure, possibly from liquidated high-risk positions or profit-taking after rapid price gains. Arab Chain noted that a lower leverage ratio during a period of price stability can be a constructive sign, as it implies that market support is coming from actual liquidity rather than excessive speculation. Related Reading: The Bitcoin Cycle You Knew Is Dead, Says Capriole Founder Should the ELR remain between 0.24 and 0.25 while Bitcoin gradually moves above $120,000, it could signal a price advance driven more by spot demand than leveraged trading. However, a sudden rise in the leverage ratio above 0.27 during another test of the $120,000–$124,000 range would increase the risk of a sharp correction. This would mirror the conditions seen during previous liquidation events, where a combination of high leverage and rapid price movements triggered large sell-offs, the analyst noted. Featured image created with DALL-E, Chart from TradingView
Nasdaq-listed Top Win International today announced that it has raised $10 million from a group of investors, including Taiwan-based Wiselink. This marks the first time a publicly-listed Taiwanese firm has invested in a Bitcoin treasury company. Top Win International To Purchase Bitcoin According to an announcement today, Hong Kong–based Top Win International is the latest firm to raise funds for its BTC treasury strategy. The firm – traditionally a luxury watch brand – is steadily pivoting toward the digital assets industry. Wiselink led the funding round by purchasing a three-year convertible note worth $2 million. The remaining $8 million was contributed by other investors, including American asset manager United Capital Management of Kansas. The proceeds from the fundraising will primarily be used to purchase BTC. Top Win may also use the funds to invest in other publicly-listed companies with Bitcoin treasury strategies, subject to applicable regulatory requirements. The firm clarified that it has no intention of operating as an investment company. Notably, Top Win was listed on Nasdaq in April 2025 and subsequently changed its ticker symbol from TOPW to SORA following a partnership with SORA Ventures in May 2025. Meanwhile, Top Win shares fell sharply at market open, trading down more than 15% on the day. However, the stock remains up 12.41% over the past five days. In a similar development, NYSE-listed Sequans Communications recently announced an ambitious plan to accumulate 100,000 BTC by the end of 2030. The firm stated that it holds strong conviction in Bitcoin as a foundational asset for long-term value creation. Sequans initiated its Bitcoin strategy on July 8, with a $384 million strategic investment in convertible debt and equity. The firm also added 1,264 BTC to its balance sheet in the last month. As of today, Sequans ranks 21st among publicly traded Bitcoin holders globally. Michael Saylor’s Strategy, MARA Holdings, and Twenty One Capital hold the top three positions, respectively. Everyone Wants Exposure To BTC Corporate adoption of Bitcoin was once considered a novel and risky strategy. However, the trend has accelerated significantly following US President Donald Trump’s victory in the 2024 election. Earlier this week, Norway’s sovereign wealth fund – Norges Bank Investment Management – revealed that it had significantly increased its BTC exposure, bringing its stake to a value of $844 million. Similarly, wealth management firm Choreo disclosed that it had invested roughly $6.5 million in multiple Bitcoin exchange-traded funds (ETFs). At press time, BTC trades at $117,199, down 0.9% in the past 24 hours.
The crypto market is heating up, and altcoin traders are watching every chart tick. XRP has been breaking resistance, Ethereum has extended its rally, and market sentiment is shifting toward a full-scale altcoin market rally. For investors searching for the best altcoins to buy today, the list is getting interesting. While the market’s big names are leading the charge, a new contender — MAGACOIN FINANCE — is starting to draw attention from traders looking for the best crypto to buy now. XRP and Ethereum Driving Market Excitement The XRP price prediction trend has remained bullish as the token holds above $3. Over the past year, XRP has posted gains of more than 450%, driven by renewed optimism around adoption and legal clarity. This stability at higher levels is pushing traders to consider it as one of the best altcoins to buy today for both short- and mid-term strategies. Meanwhile, the Ethereum (ETH) rally has been equally attention-grabbing. ETH is up 33% over the last month, touching highs near $4,700. Market analysts point to strong network activity and upcoming scaling upgrades as catalysts. For many, Ethereum remains the second best crypto to buy now after Bitcoin, but with the potential for sharper gains during an altcoin market rally. This double surge from XRP and ETH is setting a tone of confidence across the sector, leading traders to rotate capital into promising new projects that could deliver higher returns in the next market leg. MAGACOIN FINANCE: Market Models Signal 27x ROI Potential Market forecasts are flagging MAGACOIN FINANCE as a standout opportunity before the next altcoin market rally. Analysts tracking early-stage token cycles suggest the project’s token could see a 27x return on investment in the upcoming rotation phase. This projection is based on a combination of community growth, liquidity expansion, and anticipated market listings. The appeal for traders comes from its timing — MAGACOIN is still in the early stages of wider exposure while the sector is entering a bullish cycle. MAGACOIN FINANCE’s positioning could make it one of the best altcoins to buy today for those seeking higher-risk, higher-reward plays. Final Word: Where the Smart Money Might Flow Next With XRP holding strong above $3 and Ethereum surging toward new highs, the market is preparing for broader gains across altcoins. For those tracking the best crypto to buy now, large-cap tokens offer stability, but they rarely deliver the extreme multiples found in smaller-cap plays. That’s where projects like MAGACOIN FINANCE enter the conversation. MAGACOIN is gaining traction among investors looking beyond the big names — and that makes it a project worth keeping on the radar. To learn more about MAGACOIN FINANCE, visit: Website: https://magacoinfinance.com Access: https://magacoinfinance.com/access Twitter/X: https://x.com/magacoinfinance Telegram: https://t.me/magacoinfinance Continue Reading: Best Altcoins to Buy Today — MAGACOIN FINANCE Primed for Huge ROI as XRP and ETH Rally
On August 16th, COINOTAG News reported significant **net outflows** from the **U.S. Bitcoin spot ETF**, totaling **$14.1 million**, as monitored by **Farside Investors**. This notable trend highlights market reactions and
COINOTAG reports that monitoring by LookIntoChain has revealed the emergence of three new wallet addresses connected to a mysterious entity. In just four days, these wallets have withdrawn an impressive