.saylor’s bitcoin billions have rebounded in price since his exit as MicroStratergy CEO a year ago, and HuobiGlobal stablecoin reserves are down 30% amid reports of executive arrests. LedesmaLyllah reports.
A rebound in the price of bitcoin has sharply narrowed losses for MicroStrategy's holdings of the cryptocurrency.almost exactly a year ago as CEO of MicroStrategy to become its executive chairman with a sole focus on investing in bitcoin, his digital-asset strategy was looking pretty bleak. He had already spent billions of dollars of MicroStrategy’s money to purchase bitcoin — and his paper loss amounted to about $1 billion.
Over the weekend, financial media in Hong Kong reported that several executives at Huobi had been taken away by police in China. According to data from, Huobi’s stablecoin exchange balances have dropped by 33% in the last week, with traders withdrawing $49 million. Earlier, Colin Wu of Wu Blockchain had posted that “a large number of senior executives of offshore cryptocurrency exchanges … have been detained and investigated by the Chinese police” without adding specifics.
Over the past week, all $22 million in ether and ether derivatives stolen from Alchemix were returned. Curve, which lets users cheaply swap stablecoins on its platform, was hit by a reentrancy attack that allowed attackers to steal tokens from Curve, and lending and borrowing platforms Metronome and Alchemix.The chart shows monthly changes in the turnover on Deribit, the world's largest crypto options exchange, by trading volume and open interest.
As the volatility meltdown continued, the cumulative turnover in crypto options, perpetual futures and standard futures segments declined by 27% to $37 billion in July.
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