Hold on to your hats, crypto fans, because the digital rollercoaster has been anything but dull lately! While the market's been showing some minor ups and downs, it's the headline-worthy antics that have everyone buzzing.
First off, let's jet over to North Korea, where the infamous Lazarus Group is making waves. These cyber masterminds have managed to stash away 13,518 BTC, tipping the scales at over a cool $1.1 billion! They’re now the fifth-largest nation-state holder of Bitcoin, sitting just behind the likes of the US, China, the UK, and Ukraine. Talk about making a splash!
The group pulled off the grandest crypto caper by swiping a jaw-dropping $1.5 billion in Ethereum from Bybit last month. The loot's mostly been turned into Bitcoin, but they've also got their hands on some serious amounts of ETH, BNB, DAI, and a blend of stablecoins and other wrapped assets.
Meanwhile, in the south, South Korea's central bank is playing it safe with its foreign reserves. They're a bit wary of adding BTC to their treasure chest, citing its wild price swings and the potential costs of cashing out during market turbulence. The bank also pointed out that Bitcoin doesn't quite meet the IMF's criteria for reserve assets, which are supposed to be liquid and stable.
But while Bitcoin's been playing it cool, Toncoin (TON) has been partying it up! Over the weekend, TON's price took a joyful leap after the TON Foundation revealed that French authorities returned Telegram founder Pavel Durov's passport. This means he's free to jet out of the country after a summer of legal drama that had cast a shadow over TON's value.
And now, for a plot twist straight out of a thriller: the crypto community was left on the edge of their seats when a daring investor opened a massive $350 million short position on BTC with a whopping 40x leverage. It didn't take long for some in the community, including Tron’s Justin Sun, to seize the opportunity, opening long positions to nudge BTC's price up and try to liquidate this bold trader. BTC soared past $85,000 as long positions stacked up, but the trader kept their cool, adding margin and pushing their liquidation price higher. In the end, the crowd backed off, leaving the trader's position intact, now ballooning to an estimated $450 million. Talk about high-stakes drama!
So there you have it, folks – a whirlwind tour of the latest and greatest in the crypto world. Whether it's audacious heists or wild market maneuvers, there's never a dull moment in this digital domain!
