Crypto Whale Data @0x1d7a9641dcccfe07c722bede8b3c2221cc19d4ca Active 12 hours, 53 minutes ago Activity Profile Shop Friends 1 Groups Forums Media 548 All548 Albums1 Photos548 Videos0 Music0 Create an Album Album Title : Album Description : Create Album Please login You need to be logged in to upload Media or to create Album. Click HERE to login. Upload All Photos SEC fines Jump Trading subsidiary $123 million for propping up TerraUSD stablecoin during depeg In May 2021, following a "depeg" of the algorithmic TerraUSD stablecoin, the token was able to stabilize back at its $1 peg, seemingly automatically. Behind the scenes, however, a subsidiary of Jump Trading's crypto unit, Tai Mo Shan, stepped in with $20 million worth of purchases to help stabilize the token, allegedly misleading investors in the token and its counterpart luna, according to an SEC complaint. The SEC and Tai Mo Shan, presumably named after Hong Kong's highest peak, agreed that the latter should pay about $123 million in fines — over $86 million in disgorgement and about $36 million in a civil penalty — for its actions, which the regulatory agency alleges "caused investors to be deceived about the efficacy of Terraform’s arbitrage mechanism." The $86 million figure was determined based on the amount of money, plus interest, the SEC says Tai Mo Shan profited after it stepped in with $20 million worth of buys of Terraform Labs' TerraUSD stablecoin (UST) in May 2021, after UST briefly depegged before seemingly automatically stabilizing. In exchange, Tai Mo Shan received unlocked luna tokens early, which it was able to sell into the market. The SEC had previously accused Tai Mo Shan of profiting $1.28 billion from the deal in an earlier complaint. Though Terraform Labs founder Do Kwon touted how TerraUSD had survived a "black swan event" in "as intense of a stress test in live conditions as can ever be expected," failing to mention Tai Mo Shan's actions to prop up the coin had the effect of deceiving investors into believing the algorithmic stabilization mechanism functioned as expected, the SEC alleges. Jump Crypto's president, Kanav Kariya, had pleaded the fifth when asked about the deal in a prior deposition. As part of the settlement, Tai Mo Shan will pay the penalty without admitting or denying the findings in the SEC's order. "Tai Mo Shan should have known that purchasing UST and supporting its price in this manner misled the market about the stability of UST’s peg and the effectiveness of Terraform’s algorithm meant to maintain that stability," the SEC wrote in its order. Terraform Labs, for its part, agreed to pay over $4 billion in fines in a settlement with the SEC following its ecosystem's collapse. The firm got permission from a U.S. bankruptcy judge to begin winding down in September of this year. Crypto Whale Data MicroStrategy founder Michael Saylor advocates for Trump-backed 'strategic bitcoin reserve' in proposal to set crypto industry standards MicroStrategy founder Michael Saylor has backed President-elect Donald Trump’s strategic bitcoin reserve in a digital asset policy proposal published on Friday. The so-called “Digital Assets Framework” also lays out a plan for the U.S. to support industry growth, set standards for compliance and communication, as well as set rights for crypto asset holders and companies. “By establishing a clear taxonomy, a legitimate rights-based framework, and practical compliance obligations, the United States can lead the global digital economy,” Saylor wrote in his proposal. “A capital markets renaissance fueled by digital assets will unlock trillions in wealth, empower millions of businesses, and solidify the US dollar as the foundation of the 21st-century digital financial system.” Saylor became one of the most visible Bitcoin backers after his firm began purchasing the asset in 2020, in a bold bet that U.S. monetary and fiscal policy would drain the dollar's value. MicroStrategy, which sells business intelligence software, is now the single largest corporate bitcoin holder, with an estimated $42.6 billion stockpile. Although Saylor is known as a Bitcoin maximalist — someone who believes there is an insurmountable gulf between Bitcoin and other blockchains — his proposal argues for creating universal standards for “ digital assets (beyond Bitcoin)” and strengthening the U.S. dollar’s hegemonic position as the world’s reserve currency. Implementing his plan, which includes creating a “universal” taxonomy and set of standards, would “position America as the global leader in the 21st-century digital economy” and neutralize the national debt. Plan specifics Under his proposed taxonomy, Saylor defines a “digital commodity” as “an asset without an issuer, backed by digital power,” citing Bitcoin as an example. He also classifies assets “with an issuer,” including a “digital security” like tokenized equity or debt, a “digital currency” that is “backed by fiat” and a “digital token,” which is fungible and offers utility. NFTs and tokens backed by “physical assets” like gold and oil have their own delineations. In addition to classifying different cryptocurrencies, Saylor argues for a “robust framework of rights and responsibilities” to be applied to issuers, exchanges and other participants. This includes the baseline rights “to create and issue digital assets” as well as custody, trade and transfer these assets. The responsibilities Saylor advocates largely center around public disclosures and complying with local laws. “No one has the right to lie, cheat, or steal. All participants are civilly and criminally responsible for their actions,” Saylor writes. Meanwhile, in a bid to drive “efficiency and innovation,” he also argues that compliance costs related to issuing a token should be limited to 1% of a firm’s assets under management and no more than 10 basis points annually to maintain an asset. This could help drive “the cost of issuance from $10–100 million to $10–100 thousand,” he writes, and reduce the time to launch a token to a matter of minutes rather than years. Neutralizing the debt To some extent, Saylor wants the U.S. to be at the center stage of the digital economy because he wants the U.S. to remain at the center stage of the global economy. He argues implicitly that becoming the de facto crypto hub is key for maintaining the hegemonic status of the U.S. dollar, which he has previously referred to as a “melting ice cube.” To this end, Saylor says the U.S. should position the dollar as the “global reserve digital currency” by growing the stablecoin market from a market capitalization of $25 billion to $10 trillion, thereby “creating massive demand for US Treasuries.” He also calls for U.S. investors to “capture the majority of the wealth” of the growing crypto industry. Crypto Whale Data Team behind HAWK memecoin, tied to 'Hawk Tuah Girl,' sued for alleged securities law violations Crypto Whale Data El Salvador to limit bitcoin activities for $1.4 billion deal with IMF Crypto Whale Data US Federal Reserve cuts fed funds rate by 25 basis points Crypto Whale Data Ethereum ETF staking yields could drive institutional adoption if regulatory barriers ease under Trump: analysts Crypto Whale Data NFT collection CyberKongz says it has received a Wells Notice from SEC Crypto Whale Data Global crypto investment product YTD inflows quadruple any other year: CoinShares Crypto Whale Data Polygon community weighs proposal to deploy over $1 billion in stablecoin on its bridge for yield generation Crypto Whale Data Solana surpasses Ethereum as fastest growing crypto ecosystem in terms of new developers: Electric Capital Crypto Whale Data In latest shakeup, Interchain Foundation acquires Skip to refocus Cosmos Hub at ecosystem's core Crypto Whale Data Ethereum researcher Max Resnick moves to join Solana development firm Anza Crypto Whale Data Hacked Cardano Foundation X account posts fake token, false SEC lawsuit notice Crypto Whale Data VCs express skepticism towards crypto-AI projects: 'Almost everyone will lose a lot of money Crypto Whale Data Semler Scientific buys additional 303 BTC, expands its bitcoin treasury’s value to over $180 million Crypto Whale Data Trump congratulates bitcoiners on $100,000 milestone as industry reacts to new all-time high Crypto Whale Data Analysts predict continued volatility in South Korean crypto markets as opposition seeks to impeach president Crypto Whale Data Pump.fun reaches monthly revenue peak with $93 million in November, rakes in cumulative revenue of $240 million Crypto Whale Data Coinbase adds memecoin Moo Deng to listing roadmap Crypto Whale Data MARA proposes $700 million convertible senior note offering to buy more bitcoin Crypto Whale Data XRP becomes world's third-largest crypto, overtakes Tether’s USDT in market cap Crypto Whale Data Former Facebook exec says Diem Libra stablecoin fell victim to a 'political kill' Crypto Whale Data CryptoPunks lead November NFT rally with 47% floor price increase Crypto Whale Data Analysts claim crypto capital rotation is driving Ethereum, Cardano and Solana gains Crypto Whale Data Ether gains momentum as capital shifts from bitcoin and derivatives activity increases Crypto Whale Data Will there be a Solana ETF by the end of 2025 Crypto Whale Data Trump's proposed Crypto Advisory Council could establish US bitcoin reserve: report Crypto Whale Data North Korea to blame for 342,000 ETH Upbit hack in 2019, South Korean police say Crypto Whale Data BlackRock Bitcoin ETF's 'unheard of' first-day options trading volume pushes BTC to new all-time high Crypto Whale Data Japan’s Metaplanet shares jump 15% after adding 124 BTC to treasury Shares of Japanese investment firm Metaplanet Inc. rose 15.1% on Tuesday after the company announced the purchase of an additional 124.1 BTC ($11.3 million). Earlier today, the Tokyo-listed firm said that it purchased another 124.1 BTC at an average price of nearly 14.1 million yen ($91,266) per bitcoin. This raised its total holdings to 1,142.2 bitcoin ($104.8 million). Metaplanet’s stock closed up 15.1% at 2,295 yen on Tuesday in Japan, with its daily turnover reaching 21.9 billion yen ($141.7 million), according to data from Futu. Its stock price has risen 1,334% year-to-date. The Nikkei 225 index gained 0.5% today. “Metaplanet ranked [29th] out of 4,000 listed companies in Japan by trading value, surpassing much larger market peers such as Itochu and NTT,” Simon Gerovich, CEO of Metaplanet, wrote on X today. The company has been on a bitcoin buying spree in recent months following its May announcement to adopt bitcoin as a strategic treasury reserve asset. It noted in the Tuesday disclosure that the company’s BTC yield reached 186.9% from Oct. 1 to Nov. 19 this year. On Monday, the company also announced the issuance of one-year ordinary bonds totaling 1.75 billion yen ($11.3 million), with the funds intended for purchasing bitcoin. The redemption date is set for Nov. 17, 2025. Meanwhile, MicroStrategy remains the largest public corporate bitcoin holder, owning 331,200 BTC, according to data from BitcoinTreasuries. On Monday, MicroStrategy acquired an additional 51,780 BTC, its largest set of acquisitions to date. Wall Street giants were also loading up on its shares. 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Gox-linked cold wallet moves over $2 billion worth of bitcoin to new address: Arkham Crypto Whale Data Stealth Nation Reported to Be Purchasing Bitcoin Covertly Talks of an unidentified nation purchasing bitcoin in bulk surged on social media recently. David Bailey, CEO of BTC Inc. and one of President-Elect Trump’s campaign cryptocurrency aides, has reported on the possibility of an undisclosed country acquiring bitcoin outside the public eye. On X, Bailey stated: “There is at least one nation state that has been actively acquiring Bitcoin and is now a top 5 holder. Hopefully we hear from them soon.” Several users suggested Qatar and Saudi Arabia could be the undisclosed country Bailey was referring to. Nonetheless, he stated it was not China, Ukraine, the UK, Finland or Georgia Crypto Whale Data SEC again delays decision on spot Ethereum ETF options Crypto Whale Data 'Not your keys, not your blockchain': DEGEN L3 can't switch 'rollup-as-a-service' providers from firm holding its keys Crypto Whale Data Ethereum developers roll out Mekong testnet to trial next year's Pectra upgrade Crypto Whale Data Bitcoin to benefit from Trump presidency and MicroStrategy's plan: JPMorgan Crypto Whale Data Elizabeth Warren defeats crypto advocate John Deaton to hold Massachusetts senate seat Crypto Whale Data Bitcoin mining difficulty breaks through 100 trillion for the first time Crypto Whale Data Bernstein raises its bitcoin price estimate for Harris win to $50,000, keeps Trump at $80-90K Crypto Whale Data Bitcoin price falls, forward volatility jumps as traders brace for election: Analyst Crypto Whale Data Ramaswamy's Strive launches wealth management arm to bring Bitcoin to standard portfolios Crypto Whale Data Load More
