News & Research

A Bitcoin OG, an early, long-term holder who has been selling BTC to buy ETH, deposited 2,120 BTC ($230 million) to the decentralized exchange Hyperliquid (HYPE) about an hour ago, swapping 1,000 BTC ($109 million) for ETH, Lookonchain reported.

An Indian court has sentenced 14 individuals, including a former ruling party lawmaker and a senior police official, to life in prison for kidnapping and extorting Bitcoin, Cointelegraph reported. The group was convicted for their involvement in the 2018 kidnapping of businessman Shailesh Bhatt in Surat, a city in the state of Gujarat, from whom they extorted 750 BTC. The defendants included the police chief of the Amreli district and a former member of parliament from the Bharatiya Janata Party (BJP).

A new wallet, presumed to belong to an institution, has acquired a total of 1,506 BTC worth $163.5 million from Galaxy Digital over the past two hours, Lookonchain reported.

The following are the BTC perpetual futures long/short position ratios over the past 24 hours on the world's top three cryptocurrency futures exchanges by open interest: Overall: Long 48.72% / Short 51.28% 1. Binance: Long 48.53% / Short 51.47% 2. Gate.io: Long 49.97% / Short 50.03% 3. Bybit: Long 47.62% / Short 52.38%

The former CEO and CFO of the bankrupt crypto lending firm Cred have been sentenced to 52 months and 36 months in prison, respectively, on fraud charges. The two had previously admitted to intentionally downplaying and concealing the company's financial situation while selectively providing only positive information to investors.

El Salvador's National Bitcoin Office (ONBTC) announced on X that the government is distributing its Bitcoin holdings from a single wallet into multiple wallets. The office stated this measure is designed to mitigate security risks associated with the advancement of quantum computing. Each new wallet will be capped at a maximum of 500 BTC. As of Aug. 23, El Salvador held 6,227.18 BTC.

U.S. spot Ethereum (ETH) exchange-traded funds (ETFs) recorded a total net outflow of $164.6 million on Aug. 29, according to data from Trader T. This marks a shift to net outflows after seven consecutive trading days of net inflows. The outflows were led by Grayscale's Mini ETH fund with $61.3 million, followed by Fidelity's FETH with $51 million, Grayscale's ETHE with $28.6 million, and Bitwise's ETHW with $23.7 million. No spot ETH ETFs registered any inflows for the day.

U.S. spot Bitcoin ETFs recorded a net outflow of $126.69 million on Aug. 29, marking the first day of net outflows in five trading days, according to data from Trader T. While BlackRock's IBIT and WisdomTree's BTCW attracted inflows of $24.61 million and $2.3 million, respectively, these were offset by outflows from Fidelity's FBTC ($66.2 million), Ark Invest's ARKB ($72.1 million), and Grayscale's GBTC ($15.3 million).

ETH/BTC investor James Fickel deposited 39,800 ETH ($172 million) to Coinbase Prime four hours ago, EmberCN reported. He previously incurred a loss of 20,600 ETH (approximately $90 million) from an ETH/BTC long position last year.

An early Bitcoin investor, or OG, sold 2,000 BTC (approximately $221 million) and purchased 49,850 ETH (approximately $219 million) over the past 12 hours, according to Lookonchain. The on-chain analytics firm noted that this brings the investor's total holdings to 691,358 ETH, valued at roughly $3 billion.