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Crypto-related stocks also fell on Wednesday, with Coinbase shares closing down 6.14% and Bitmine dropping 9.17%.
It is the same setup Michael Burry warned about this week, when he said falling crypto collateral can force metal selling in a feedback loop.
Tether's total reserves also grew by $11.7 billion during the quarter to $192.9 billion, including 96,184 BTC.
Bhutan has slipped to the seventh-largest nation-state Bitcoin holder, with its stash falling from 13,295 BTC in October 2024 to 5,700 BTC.
The decline followed sharp losses in Asian and U.S. tech shares, where concerns over peaking AI investment, stretched valuations and slowing earnings have driven investors out of risk assets.
Payy’s new privacy layer 2 makes every ERC-20 transfer private by default without the need for new wallets or tokens.
XRP has fallen to $1.44, its lowest level since November 2024, as bitcoin’s decline fuels broader risk aversion in the crypto market.
Social media sentiment has turned “extremely bearish” toward Bitcoin and Ethereum this week, according to analytics platform Santiment.
The latest decline reflects a broader unwind in leverage, with investors reassessing Bitcoin’s short-term role as an inflation hedge.
On-chain data points to fading demand and tighter liquidity, while prediction markets show little expectation of near-term rate cuts.
CFTC Chair Mike Selig described the proposal as a “frolic into merit regulation” by the Biden administration.
Strium will begin with synthetic US and Japanese stocks and commodities before expanding to real tokenized shares and asset-backed products with identity verification.
