Category: News

The risky short bet was made in anticipation of Ethereum’s Pectra upgrade as Ether fell nearly 11% amid growing global trade concerns.

An anonymous cryptocurrency trader has accumulated almost $68 million in unrealized profit by shorting Ether amid its recent price decline.

According to blockchain data from Hypurrscan, the trader opened a 50x leveraged short position when Ether (ETH) was trading at $3,176, on Feb. 1. As of 9:06 am UTC on March 5, the position had almost $68 million in unrealized profit.

Shorting involves “borrowing” the underlying cryptocurrency from a broker, selling it at the current price, and then repurchasing it once the price falls — a strategy used by traders to bet on the price decline of an asset.

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Animoca Brands co-founder and executive chairman Yat Siu expects continued growth through 2025 due to a more crypto-friendly regime in the US.

Animoca Brands reported $314 million in bookings for 2024, marking a 12% year-over-year increase.

Bookings is a term commonly used in the gaming sector to represent the sum of revenue and deferred revenue. It includes all payments received and potential sales based on contracts not yet fulfilled. 

According to Animoca Brands, its Digital Asset Advisory (DAA) business accounted for $165 million in bookings in 2024, a 116% increase over the previous year. The company’s subsidiaries and incubated projects generated $110 million in bookings, while its investment activities contributed $39 million.

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ParaSwap DAO members were split, with some supporting the conditional return of the fees and others voting against the refund.

Bybit confirmed it was behind a proposal requesting that decentralized finance (DeFi) protocol ParaSwap return fees earned from swaps conducted by the Lazarus Group using digital assets stolen from the exchange.

On March 4, a proposal was posted on ParaSwap’s decentralized autonomous organization (DAO) forum asking to freeze and return 44.67 Wrapped Ether (wETH), worth almost $100,000, to a wallet address. 

The proposal initially attracted skepticism, with several DAO members calling for verification before advancing the proposal. Bybit shared a verification post on its official X account on March 5, confirming that it was behind the proposal to return the funds. 

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Multisig cold wallets are highly secure but not immune to attacks, as demonstrated by incidents like the February 2025 Bybit hack, emphasizing the need for additional precautions.

Multisignature (multisig) cold wallets are often considered one of the safest ways to store digital assets, providing an extra layer of protection against theft. However, even these advanced security measures are not infallible, as demonstrated by the February 2025 Bybit hack.

Before diving into their security, let’s break down what multisig cold wallets actually are.

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“Ripple can, will, and should act in its own interest,” said David “JoelKatz” Schwartz in response to criticism regarding the firm’s XRP sales.

Ripple Labs is free to sell XRP tokens to raise operational capital, according to comments from the company’s chief technology officer. His remarks have sparked concerns among cryptocurrency investors.

“XRP isn’t a security because Ripple doesn’t actually owe you ‘utility’ or anything else,” Pierre Rochard, vice president of research at Riot Platforms, wrote in a March 5 X post.

“They are free to dump on you and you have no right to do anything about it other than join them in dumping XRP,” Rochard said, cautioning that investors are “not investing in Ripple,” just “getting tokens created out of thin air dumped on you.”

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Animoca Brands co-founder and executive chairman Yat Siu expects continued growth through 2025 due to a more crypto-friendly regime in…

ParaSwap DAO members were split, with some supporting the conditional return of the fees and others voting against the refund.

Multisig cold wallets are highly secure but not immune to attacks, as demonstrated by incidents like the February 2025 Bybit…