142,709,679,640 SHIB Left Coinbase Prime, Cardano ETF Deadline This Week, Strategy's $40 Billion Bitcoin Bet Just Got Bigger: Crypto News Digest by U.Today
Emily HarrisU.Today's daily news digest presents the most important updates in the crypto industry[...]
Coinbase Prime Transfers $2M in SHIB to Inactive Wallet with No Explanation
Arkham Intelligence data reveals that Coinbase Prime recently moved over 142.7 billion SHIB tokens—valued at approximately $2 million—to an inactive wallet without explanation. The transfer occurred across 11 transactions: ten carried 13.546 billion SHIB each, while the eleventh transferred 7.25 billion SHIB. Notably, the receiving wallet has remained dormant since the deposit, with no further on-chain activity. While large transfers are common for Coinbase Prime, this one stands out due to its unclear purpose, sparking speculation about whether it's part of a broader strategy or simply a cold storage move.
SEC Expected to Announce Decision on Grayscale's ADA ETF Application This Week
The U.S. SEC is anticipated to rule on Grayscale's ADA ETF application this week, according to @Cardanians_io. Grayscale filed the application on February 11, seeking to list a spot ADA ETF on the New York Stock Exchange. With the SEC's deadline set for May 29, approval could arrive imminently. Meanwhile, Virtune, a Swedish wealth management firm, has already launched a Staked Cardano ETP (VIRADAE) on Nasdaq Helsinki, offering 1:1 ADA backing and a 2% annual staking reward. Market optimism is growing, with Polymarket traders now pricing a 71% chance of approval—up from 55% on May 15.
Strategy Purchases Additional $427.1M in Bitcoin, Totaling Over $40.6B
On May 26, Strategy announced a $427.1 million Bitcoin purchase, bringing its total holdings to over $40.6 billion. This latest acquisition marks the first time Strategy's average buy price has neared $70,000, with the most recent purchase averaging above $106,000. The company's Bitcoin stash is now valued at nearly $64 billion. To sustain its buying spree, Strategy is raising $2.1 billion through a new equity offering. Co-founder Michael Saylor reiterated the firm's commitment to accumulating Bitcoin regardless of price, stating, "We'll just keep buying. The price is gonna go up. It's gonna get exponentially harder, and the price is going to go up exponentially higher, and we'll just keep buying."
