BTC whale switches from $91M short to 3x long position

Bitcoin's price has surged towards $93,000, reflecting a significant rally that may enhance its reputation as a hedge against economic instability. This upward movement is attracting increased institutional interest and reshaping market dynamics.

Cardano has submitted a funding request for 70 million ADA from its Treasury, aiming to enhance its core infrastructure. This strategic move is designed to bolster the platform's capabilities, potentially leading to increased adoption in decentralized finance (DeFi) and among institutional investors.

Lighter has surpassed Hyperliquid with a remarkable $9 billion in 24-hour decentralized exchange (DEX) volume, indicating a significant shift in market dynamics within the decentralized finance sector. This development underscores the increasing competition among DEX platforms as they vie for user engagement and market share.

KuCoin EU has successfully secured a MiCA license, allowing it to operate within the European Economic Area (EEA). This regulatory approval enhances the company's compliance framework and is expected to foster greater trust among users and investors in the cryptocurrency space.

Senator Dave McCormick has disclosed an investment of up to $150,000 in the Bitwise Bitcoin ETF this week, reflecting a growing interest in cryptocurrency among political figures. This investment highlights the increasing acceptance of digital assets within the political landscape.

CME Group experienced a significant disruption in its data center, leading to a halt in futures trading. This incident raises concerns about the vulnerabilities within financial infrastructure, which could have far-reaching implications for market stability and investor confidence globally.

North Korea's Lazarus Group is suspected of orchestrating a significant breach at Upbit, South Korea's largest cryptocurrency exchange, resulting in a loss of approximately $36 million from its Solana wallet. This incident has led Upbit to suspend all deposits and withdrawals as it investigates the breach and works to enhance security measures.

Interpol has called for coordinated global action against scam hubs involved in investment and cryptocurrency fraud, aiming to enhance international cooperation and mitigate the effects of transnational scams. This resolution seeks to protect the integrity of digital assets and bolster consumer confidence in the cryptocurrency market.