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The fund allegedly lost about half of its assets following FTX's collapse.
Gold has gained more than 5% in two weeks, reaching a record high driven by rate cuts and geopolitical tensions.
Hilbert Group and Xapo Bank have announced a strategic partnership to launch a Bitcoin-denominated hedge fund exceeding $200 million, set to launch in September 2024.
Investors balance risk as Bitcoin futures dip, reflecting uncertainty before the Federal Reserve's September meeting.
High-net-worth individuals and private equity funds will drive adoption, said Colin Butler.
Fear of a global economic recession continues to drive investors away from risk-on assets like Bitcoin.
A hedge fund manager is ordered to return $5.6 million in illicit profits and faces a four-year disqualification for false trading activities. (Read More)
Strong macroeconomic data, fear of an artificial intelligence bubble and an ongoing court case could be factors in Bitcoins multiday correction.
Three finalists are competing for $1 million in seed capital at the Bitcoin Alpha Competition. Crowd-sourced fund managers are taking center stage at the worlds largest Bitcoin conference.
Pro traders use a combination of futures trading strategies to generate profits while limiting their liquidation risk.
Millennium Management, holding 27,263 BTC worth $1.69 billion, has allocated about 2.5% of its $67.7 billion in total assets under management to Bitcoin.
The proportion of traditional hedge funds investing in crypto assets declined in the past 12 months though the long-term outlook remains positive, according to a new report by Big Four accounting firm PricewaterhouseCoopers (PwC).The percentage of funds with crypto exposure fell to 29% from 37% in 2022, according to the Global Crypto Hedge Fund Report.
The post Hedge Funds’ Long-Term Crypto Interest Remains Robust Even as Proportion Investing Drops: PwC appeared first on BTC Ethereum Crypto Currency Blog.
For years, analysts and traders have said cooling inflation would benefit the crypto market, yet prices are still down. Cointelegraph explains why.
Yield App halts operations, citing losses from FTX exposure, despite previous assurances of no significant impact.
Bitcoin price shows strength as investors expect the Fed to resume printing, but a handful of global macroeconomic headwinds are still in play.
Millennium Management is the largest Bitcoin ETF investor with a $1.9 billion investment.
Bitcoin futures and options indicators remain stable even after BTC price swiftly rejected off the $63,500 level.
Bitcoin may be dripping lower at spot rates. Still, one analyst is unfazed, expecting the coin to reverse recent losses and snap up firmly before peaking in December 2024. At spot rates, BTC is down roughly 11% from 2024 peaks and struggling to generate sufficient buying pressure, looking at the formation in the daily chart. Will History Support Bitcoin And Rally To Fresh Highs? Taking to X, the analyst highlights historical price patterns using the 2-week Fisher Transform indicator, a tool for picking out potential reversal zones like double tops or bottoms. Though the technical indicator lags, it has accurately picked out peaks in the past. Related Reading: Dogecoin Deflates: Whats Behind The 20% Price Drop Amidst Memecoin Mania? In 2021, when Bitcoin soared to over $69,000, the Fisher Transfer indicator printed a signal, highlighting potential peaks. In the coming weeks following this signal, prices crashed. By the end of 2022, Bitcoin had fallen to as low as $16,000, accelerated by the collapse of FTX and the bankruptcy of several other popular crypto hedge funds, including Three Arrow Capital (3AC). The analyst also emphasizes the importance of the indicator in differentiating between a double top, mirroring 2017 and 2021, and a potential single peak later this year. Presently, the trader said prices are approaching 2017 levels. Then, prices created what the analyst described as a “more subtle initial rise” before peaking six months later at over $20,000. If this leads, and the indicator “pauses” where it is, Bitcoin will likely record a “single top.” However, only time will tell where this top will be at. Hedge Funds Were Selling At Tops? This prediction comes amid significant bearish bets by leveraged hedge funds. Data from the United States Commodities Futures Trading Commission (CFTC) reveals that these funds held record “short” positions in Bitcoin futures contracts by last week. Observers note this was the largest short position since 2017, at over 16,000 contracts. By shorting, they expected prices to dump, which is precisely what’s happening at spot rates. Related Reading: Bitcoin Short-Term Holders Go On 1.2 Million BTC Buying Spree, Is Retail Finally Here? However, even as hedge funds short, another analyst, responding to the trend, said the futures premium remained high. This is a development that some of these crypto hedge funds are taking advantage of. The number of shorts could increase in the days ahead as United States Federal Reserve officials appeared to be hawkish and upbeat economic data started pouring in. Being a data-driven central bank, the Federal Reserve might not slash rates as fast as initially projected. Feature image from DALLE, chart from TradingView
The flash loan exploit was executed through the Arbitrum and Binance Smart Chain networks.
The post Hedgey Finance loses $44.5 million in flash loan exploit appeared first on Crypto Briefing.
Token infrastructure platform Hedgey Finance lost approximately $44.5 million of digital assets within two hours across Ethereum’s layer-2 network Arbitrum and Binance Smart Chain. In an April 19 statement shared with CryptoSlate, blockchain security firm Cyvers explained that a malicious attacker exploited Hedgey’s “createLockedCampaign” function using flash-loaned funds to siphon off the funds. A breakdown […]
The post Hedgey Finance hit by $44.5 million crypto theft across Arbitrum and Binance networks appeared first on CryptoSlate.
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