Some 417,348 ETH, valued at approximately $1 billion remain traceable on the blockchain after being moved using privacy-focused THORChain.
The company plans to use the raise to scale its balance sheet, expand its compliance and technology teams, and open new offices in key jurisdictions.
CME gaps — price disparities caused by the exchange’s weekend closure while spot markets trade around the clock — tend to historically act as magnets for bitcoin prices.
The technical outlook has worsened for both BTC and Nasdaq.
The sharp reversal aligned with a cautious mood among traders after Monday’s market rally following the ambitious plan, as a CoinDesk analysis previously noted.
THORChain was one of the platforms Bybit hackers used to launder funds, according to observers.
$165 million in long ETH positions have been liquidated in the last 12 hours.
The company is expected to raise $4 billion at a $35 billion valuation.
Mike Selig, the newly-appointed chief counsel for the SEC’s Crypto Task Force, was previously a New York-based partner at Willkie Farr & Gallagher LLP.
The president's AI and crypto czar says he's sold his crypto positions, but questions still remain about his other investments.