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Crypto

U.S. government moves seized cryptocurrency worth about $565.9 million to Coinbase Prime

The U.S. government moved about $565.87 million worth of seized cryptocurrency to Coinbase Prime within hours, blockchain outlet U.Today reported. The transfer included bitcoin and tether. Some of the assets were classified as seized holdings linked to the Bitfinex hack case and to FTX and Alameda Research. Onchain Lens tracked a latest transfer of 94.15 million USDT and said authorities have not disclosed the purpose of the transactions.

Crypto

Hunter Biden memecoin hits $144 billion then plunges 95 percent in 30 minutes

A memecoin called LAPTOP, which Hunter Biden helped found, surged immediately after trading began and then fell more than 95 percent in about 30 minutes. Cryptopolitan reported the token started trading on Coinbase-built Base and peaked within minutes. Arkham estimated fully diluted value briefly hit $144 billion before dropping to $5 billion. Large token transfers were detected, and one tracked wallet suffered heavy losses. Analysts also warned about concentrated, recently created top holder wallets.

Crypto

Wintermute expands XRP short position, betting against 49 percent rally

Crypto market maker Wintermute has built large short positions in XRP and Hyperliquid, with its XRP short exceeding $10 million, according to on-chain data tracked by Onchain Lens and cited by U.Today. Wintermute’s overall short exposure rose by about $45 million since the prior tally. XRP has gained 49.24 percent over the past seven days, while open interest reached $3.61 billion. Derivatives positioning broadly leans long, though Wintermute’s XRP short is about 0.28 percent of total open interest.