$BTC This early this morning, Bitget’s hot wallet was hacked for more than 300 million. The hackers converted most of the funds into Ethereum. The reserve funds are 5,500 Bitcoins, worth less than 500 million. The compensation is completely sufficient. But don’t ignore the downside risk 📉—if the stolen funds can’t be recovered, they’ll have to sell coins to stay afloat. I don’t know whether these final 5,500 Bitcoins will be enough to cover the payout. This is a bullish catalyst for the top tier, such as $BNB $ETH
$AKE According to CoinGlass liquidation data, $AKE saw nearly $12 million in liquidations over the past 24 hours. Of this, long positions were $2.66 million, and short positions were $9.31 million.