1️⃣ U.S Government Moves Bitcoin From Seized Silk Road Wallet Holding $2 Billion in Funds 💸
On-chain data reveals that a wallet tagged as belonging to the United States Department of Justice has started moving some of the $2 billion worth of BTC it holds. According to pseudonymous blockchain analyst ZachXBT the funds were moved to a Coinbase deposit address.Specifically, around 2,000 BTC were moved to a wallet tagged as belonging to Coinbase while the remainder were moved to a wallet Arkham identified as belonging to the government.
2️⃣ Argentine Government Passes Registration Requirements For Crypto Firms 🔍
The Argentine government has reportedly begun implementing requirements for cryptocurrency exchanges to operate legally in the country. Specifically, Argentina’s Comisión Nacional de Valores (CNV) made an announcement on March 25 stating that virtual asset service providers would be operating in accordance with recommendations from the Financial Action Task Force (FATF).
In response to the announcement, Max Kieser, a longtime Bitcoin maxi and an advisor to El Salvador President Nayib Bukele, tweeted,
Javier Milei makes his first major mistake. He never took the time to understand #Bitcoin, now he’ll suffer the consequences.
3️⃣ Bitfinex Derivatives Users Can Now Place Bets on Bitcoin and Ether Implied Volatility 🔴
Crypto exchange Bitfinex has announced the launch of perpetual futures tied to bitcoin (BTC) and ether (ETH) volatility indices. Notably, this allows traders to place bets on expected price turbulence in the assets. The new futures are based on the decentralised derivatives platform Volmex’s bitcoin implied volatility index (BVIV) and ether implied volatility index (EVIV). According to Volmex, the two indices are analogous to Wall Street’s fear gauge, the VIX index, which is derived from the options market tied to the S&P 500 index.
Bitfinex’s head of derivatives, Jag Kooner stated,
The creation of these indices allows our customers to not only monitor but actually trade the implied volatility of Bitcoin and Ether in a simple perpetual format [...] Tracking the 30-day implied volatility in Bitcoin and Ether options contracts without the need to roll — i.e. dated futures — opens up the product to both retail and institutional investors alike.
4️⃣ Largest Ethena Airdrop Recipient Gets Nearly $2M ☄️
According to on-chain data analysed by Arkham Intelligence, the largest recipient of the Ethena Labs airdrop received 3.3 million Ethena tokens (worth nearly $2 million). Following the airdrop, the Ethena token was listed for trading at 8:00 am UTC on some of the biggest centralised crypto exchanges, including Binance, Bybit, KuCoin, HTX, MEXC and BitMart. Since then, the Ethena token has surged by over 60% in the past 24 hours and currently occupies the 80th ranking on largest cryptocurrencies by market cap chart.
5️⃣ Crypto VC Paradigm in Talks to Raise Over $750 Million for Fund 💵
According to a Bloomberg report, crypto-focused VC firm Paradigm is in talks with investors to raise between $750 million and $850 million for a new fund. Notably, Bloomberg commneted that the deal would mark the industry's biggest since the recent crypto winter slump, even if it is completed at the lower end of the range. Some of Paradigm’s most notable Web3-related investments include Coinbase, Fireblocks, Blast, Optimism, Uniswap, Gitcoin and friend.tech.
Source: COINBUREAU