The company is positioning ETH as its primary treasury reserve asset and said it plans to stake and restake the acquired ETH, effectively removing it from circulation.
Attackers earlier this week exploited a re-entrancy flaw in the OrderBook contract, allowing the attacker to manipulate short positions on BTC, inflate GLP’s valuation, and redeem it for outsized profits.
“The BTC breakout marks a regime shift, and we expect altcoin dispersion to rise from here,” one trader said, with several trading desks expecting higher moves in major tokens.