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Under the court ruling, the bankrupt exchange can sell digital assets weekly through an investment adviser, with an initial limit of $50 million in the first week and $100 million in subsequent weeks. If FTX seeks to sell more, it must request court approval to raise the limit to $200 million per week.

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Although FTX and Alameda unlocked more than $400 million in SOL, the firms may not be able to sell all the tokens in a single transaction. In September 2023, the Delaware Bankruptcy Court approved FTX’s plan to sell digital assets, imposing strict limits on liquidation amounts.

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The most recent unlock is FTX and Alameda’s largest unstaking since November 2023 when the companies unstaked 2.1 million SOL, worth $141 million. Since then, the bankrupt crypto firms have consistently unstaked millions in SOL and sent the assets to exchanges.

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Since unlocking staked SOL, the bankrupt crypto firms have deposited about 25,000 SOL worth roughly $3.3 million at Binance.

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Thiel also said that UAE regulators’ enthusiasm for providing clearer rules for the industry generally “de-risked” a lot of crypto activities in the region.

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Quintenz was also nominated to take the seat of Goldsmith Romero, who joined the CFTC in 2022 after being appointed by former President Joe Biden.

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The Bybit hack alone accounts for more than half of the $2.3 billion stolen in crypto-related hacks in 2024, marking a significant setback for the industry.

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A scammer impersonating Bermuda Premier David Burt used a fake profile to promote a fraudulent token called “Bermuda National Coin” on the X platform in a series of social media posts.

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“Not having to hassle with keys gives me peace of mind,” he said. While Bitcoin maxis insist users should always control their own private keys instead of holding their Bitcoin on centralized exchanges, self-custody comes with the responsibility of keeping those keys safe from hackers, thieves and other bad actors.

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Bitcoin analyst PlanB revealed that he has moved all his Bitcoin from self-custody into spot Bitcoin exchange-traded funds (ETFs), in an effort to manage his Bitcoin in the same way as traditional assets.

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Several days later, on June 27, a court in the British Virgin Islands ordered 3AC to liquidate its assets.

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By June 16, 2022, 3AC failed to meet margin calls from lenders and was forced to liquidate certain positions to pay back the creditors.

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BlackRock’s iShares Ethereum Trust (ETHA) led among peers, onboarding upward of $3.5 billion in 2024 net inflows, Farside said. Fidelity Ethereum Fund (FETH) notched second place with $1.5 billion in net inflows.

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Ismail believes that “investors from the equities market will behave differently” than hyper-reactive retail investors. Institutional players bring deep pockets and advanced risk management strategies, which allow them to approach Bitcoin differently than retail investors.

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Cryptocurrency exchanges in Europe are preparing to delist locally noncompliant stablecoins as European crypto regulations near an enforcement deadline.

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“Second, you can have a reserve where the US actively buys Bitcoin below a certain size; this can also be done by the executive easily above a certain size, meaning above a certain amount of purchases per year, you do need congressional buy-in,” Lubka added.

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“It can be a stockpile where they just hold the Bitcoin they already have. This can be done with the stroke of a pen by the president. It is the easiest form,” he said.

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Steven Lubka, head of private clients at the Bitcoin platform Swan Bitcoin, told Cointelegraph that a government looking to create a Bitcoin reserve would have a few options.

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Michael Saylor’s MicroStrategy tops the list with 386,700 Bitcoin, worth about $37 billion, according to the firm’s portfolio tracker.

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A growing list of firms have taken the plunge and added Bitcoin to their balance sheets this year, including YouTube alternative Rumble, artificial intelligence company Genius Group and Japanese investment firm Metaplanet.

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