June 23 (Cointime) - Alfred Lin, a partner at Sequoia Capital, defended the firm's investment in FTX, a now-bankrupt crypto exchange. Despite the loss, Lin stated that if given the opportunity to evaluate FTX again, Sequoia would likely make the same investment decision. Sequoia Capital invested a total of $213.5 million in FTX and FTX US through two of its funds, with the Global Growth Fund III holding a $150 million investment in FTX. Some users of the bankrupt exchange are now suing Sequoia and other financiers for their involvement in a promotional marketing campaign that added an "air of legitimacy" to FTX.
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Sequoia Capital Stands by Multimillion-Dollar Investment in Bankrupt Crypto Exchange FTX
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Yesterday, Tether issued $110 million USDT and redeemed $23 million USDT
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US Bitcoin ETF holds nearly $60 billion worth of BTC
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Kaiko data: Bitcoin miners’ income has dropped sharply, and they may sell BTC to maintain operations
The latest data from cryptocurrency research and analysis company Kaiko shows that miners are facing huge selling pressure as Bitcoin mining revenue and transaction fees decline. Bitcoin miners' income mainly comes from two aspects: mining rewards and transaction fees. However, affected by the halving of Bitcoin rewards in April (block rewards dropped from 6.25 BTC to 3.125 BTC), miners have to sell Bitcoin to pay for costs. Kaiko researchers pointed out in the report that the halving event usually prompts miners to sell BTC because the mining process requires a lot of expenses. -
Brazil's trading volume reaches $6 billion in 4 months
According to Kaiko Research, the correlation between Bitcoin (BTC) and stocks is increasing. After reaching a multi-year low of 0.01 in March, the 90-day correlation rose to 0.17 last week. Based on the company's research report on May 13th, the 90-day correlation between Bitcoin and stocks rose to 0.17 in the week of May 5th, higher than the multi-year low of 0.01 in March. The correlation between BTC and risk assets is lower than the high of 0.6 during the bull market. -
Ethereum has about $48.05 million in on-chain loan liquidation quota around $2,778
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Ethereum has about $48.05 million in on-chain loan liquidation quota around $2,778
On May 13th, according to DefiLlama data, there is approximately $48.05 million in on-chain loan liquidation volume for Ethereum around $2778. -
GBTC has seen a cumulative net outflow of over US$17.6 billion since the launch of the Bitcoin spot ETF
On May 12th, according to Farside Investors data, the cumulative net outflow of GBTC since the launch of Bitcoin spot ETF reached 17.6329 billion US dollars. According to Coinglass data, GBTC's asset management scale has decreased to 17.647 billion US dollars. -
The Ethereum network has currently destroyed more than 4.29 million ETH
According to Ultrasound data, as of now, the Ethereum network has destroyed a total of 4,290,622.06 ETH. Note: Since the introduction of EIP-1559 in the Ethereum London upgrade, the Ethereum network will dynamically adjust the BaseFee of each transaction based on transaction demand and block size, and this portion of the fee will be directly burned and destroyed. -
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