Ethereum sell-off fears rise as crypto hedge fund moves $60M ETH to an exchange
Ether risks turning overbought on shorter timeframes, amounting to sell-offs also as it retests a critical resistance level. Ethereum's native token Ether (ETH) rose by more than 5% to reach its intraday high above $1,930 on May 30. Nonetheless, the ETH/USD pair risks facing another sell-off round due to concerns about a massive ETH inflow into an exchange.58.7K Ether transferred to FTX in MayOn May 30, the Ether address allegedly associated with Three Arrow Capital — a Singapore-based crypto hedge fund, sent 32,000 ETH worth $60 million to the FTX crypto exchange within a span of an hour,....
Related News
The U.S. Securities and Exchange Commission has filed a lawsuit against a cryptocurrency hedge fund founder for fraud. The regulator is seeking an emergency order freezing $25 million in digital assets held by a crypto hedge fund he controls. Crypto Hedge Fund Founder Sued in the US The U.S. Securities and Exchange Commission (SEC) has sued a crypto hedge fund founder in Manhattan federal court. The regulator alleges that Stefan Qin, a 23-year-old Australian, defrauded investors in his $92.4 million cryptocurrency arbitrage fund, according to Tuesday’s court filing. Qin founded New....
Reports indicate that the bankrupt crypto hedge fund Three Arrows Capital (3AC) is facing more trouble from liquidators and financial authorities from the U.S. Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC). The whereabouts of the hedge fund’s co-founders Su Zhu and Kyle Davis are still unknown and the court-appointed liquidator plans to leverage unorthodox means to send the two co-founders a subpoena. 3AC Is Allegedly Under Investigation by US Regulatory Watchdogs The co-founders from the troubled crypto hedge fund Three Arrows Capital (3AC)....
In July, a hedge fund in Jersey issued a press release announcing that it had become the first regulated fund to deal in bitcoin. The Jersey fund, called Global Advisors Bitcoin Investment Fund (GABI), later said it was seeking $200m in assets under management. In subsequent months, mentions of GABI have been regularly prefaced by its status as the first regulated bitcoin hedge fund by everyone from the BBC to Newsweek. Now another hedge fund is challenging GABI's claim. Crypto Currency Fund, managed by Timothy Enneking, says that it, not GABI, should rightfully be referred to as the....
One of the wallets linked to the struggling cryptocurrency hedge firm Three Arrows Capital has moved money for the first time in about ten days. Three Arrows Moves From Wallet On-chain data shows that a wallet associated with the bankrupt cryptocurrency hedge fund Three Arrows Capital removed staked ether (stETH) worth $33 million from the […]
In Spain, an investment company has begun to promote what they called the “first crypto hedge fund.” The product has been registered in Malta by Avenue Investment Crypto, headed by a crypto advocate, Martin Huete. Investments Allocated Mainly in Bitcoin and Ethereum According to Infobae, the hedge fund “exclusively” targets qualified investors whose minimum investment starts at 100,000 euros ($120,600). However, anyone who would like to join the crypto hedge fund should prove to the firm that they hold assets for 750,000 euros ($904,900). Although Avenue Investment....