Nearly a billion dollars in leveraged crypto positions were liquidated in the past 24 hours as the Bitcoin price rallied above $78,000. Bitcoin (BTC) rallied above $78,000 to hit another 10-week high on Friday as crypto and equity markets reacted to cooling tensions in the US and Israel war in Iran. The rally above range highs also resulted in a large liquidation of leveraged Bitcoin positions. More than $660 million in short positions were liquidated, with Bitcoin accounting for $353 million of that total. Ether (ETH) followed with $160 million in short liquidations. Related: Three things Bitcoin must do to hold highs above $76K: Analysts Read more
Payward, the parent company of the Kraken crypto exchange, cited Bitnomial's regulatory licenses as the primary driver for the acquisition. Payward, the parent company of the Kraken cryptocurrency exchange, announced on Friday that it has entered into a “definitive agreement” to acquire Bitnomial, a US-licensed cryptocurrency and derivatives exchange; the deal values Bitnomial’s equity at $20 billion. Bitnomial is the “first” crypto-native exchange in the United States to hold all three regulatory licenses from the Commodity Futures Trading Commission (CFTC), including exchange, clearinghouse, and brokerage permits, according to Payward’s announcement. “Settlement mechanics, margin models, and contract structures define what products can exist and who can access them. The US has had no clearing infrastructure built for digital assets,” Arjun Sethi, Co-CEO of Payward and Kraken, said. He added: Read more
Myanmar has reduced the sentence of imprisoned ex-leader Aung San Suu Kyi, her lawyer told Reuters on Friday, as part of an amnesty by a new president who ousted her government in a coup five years ago. Suu Kyi, 80, was serving a 27-year sentence for a litany of charges her allies said were politically motivated to keep her at bay, ranging from incitement and corruption to election fraud and violating a state secrets law. The sentence has been cut by one-sixth, but it remains unclear whether the Nobel Peace Prize winner will be allowed to serve the rest of her sentence under house arrest, the lawyer said. Suu Kyi, who had dismissed the charges against her as “absurd”, has not been seen in public since the end of her marathon trials, and her whereabouts have been unknown. Earlier, state media reported that President Min Aung Hlaing approved an amnesty for 4,335 prisoners, the third such move in the past six months. Amnesties typically take place in Myanmar each year to mark Independence Day in January and the ...