Cryptocurrency exchanges operating on Indonesian soil will b | The Crypto Basic on Binance Square

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Cryptocurrency exchanges operating on Indonesian soil will be required to register with the recently established national bourse for crypto assets. This move is geared toward monitoring asset liquidity and recording crypto transactions. 

#CryptoRegulationUpdate #CryptoRegulationBattle #Cryptocurrency.traders #CryptoNews🔒📰🚫 

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The notorious whale who has made staggering returns by trading #Bitcoin on Hyperliquid has survived a bull consortium to liquidate his $420 million position. A whale wallet has recently been trending for its risky but highly rewarding trades. The user has made over $16 million in one month by trading Bitcoin, Ethereum, and Hype with insane leverages on Hyperliquid. Meanwhile, on Saturday, the whale opened a new Bitcoin short position worth a staggering $332 million. Notably, this trade came despite the pioneering cryptocurrency’s recent bounce towards its 200-moving average above $84,000. With Hyperliquid reducing its leverage limit from 50x to 40x due to a recent occurrence, the user used the highest leverage, opening the Bitcoin short position at an entry price of $84,040 and an initial liquidation price of $85,300. He placed his take profits at $69,414 and $58,664, raising questions within the crypto community. Bull Consortium Hunts Whale’s Liquidation Meanwhile, the current short position aggrieved a faction of whales, who formed an alliance to hunt the user’s liquidation price. Led by self-acclaimed “liquidity providor,” CBB, the band swung into action, driving Bitcoin’s price to $84,690 in a few hours through eight-figure purchases. Max Brown, a prominent influencer, revealed purchasing $500,000 worth of Bitcoin (6.07 BTC) in a team effort to push prices to the whale’s liquidation. Seeing the ploy, the whale took to adding margin to his open Bitcoin short position to avoid liquidation. Data shows that the user deposited 5 million USDC from Arbitrum to increase his liquidation price. Nonetheless, the alliance failed to hunt down the 40x short position, as the asset has since dropped to $83,602, leaving the whale in profit. Interestingly, he has closed parts of the trade in profit through the TWAP strategy and currently holds $420 million with a PnL of $2.3 million. #cryptonewstoday

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Renowned crypto payment giant #Ripple has filed for the “Ripple Custody” trademark with the USPTO, as listed in the Justia U.S. legal database. Ripple submitted the application on February 25. XRP community figure, Crypto Eri, recently discovered the update, highlighting it in a post on X. Details of Ripple Custody Trademark Under this trademark, Ripple aims to offer downloadable software for the custody of crypto assets, virtual currency, and fiat currency. It also seeks to provide downloadable software for transmitting, storing, and managing these assets. The filing also covers peer-to-peer network services for the electronic transmission of financial data related to custody and storage, as well as providing temporary, non-downloadable software for the custody, transmission, and storage of these currencies. Moreover, this includes Software as a Service (SaaS) for managing and transferring cryptocurrency, fiat currency, and digital currency. Notably, this move comes several months after Ripple acquired the custody firm Metaco. Ripple is now progressing in its efforts to offer infrastructure services for institutions. #CryptoNewsFlash

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North Korean government-tied serial hackers The Lazarus group now outholds major Bitcoin-holding nations after swapping most of the proceeds from the Bybit hack to the premier asset. The notorious state-backed hackers pulled off the biggest heist in crypto history in February after exploiting prominent crypto exchange Bybit. Lazarus Group stole $1.46 billion worth of crypto, primarily denominated in Ethereum, the second-largest cryptocurrency by market cap. Unconventionally, the hackers, typically known as patient holders of stolen funds before laundering, immediately resorted to laundering the stolen funds. Data from Arkham shows that the serial exploiters have now converted most of the proceeds from the hack to Bitcoin. North Korea’s Group: The Latest Bitcoin Whale Per data, North Korea’s Lazarus group now holds 13,518 BTC, worth a staggering $1.13 billion at the asset’s current price. What is more eloquent about this figure is the country’s current position among the Bitcoin-holding governmental entities globally. North Korea’s current Bitcoin stash places it fourth on the log, outholding top nations like Bhutan and El Salvador. For context, while Bhutan holds 10,634 BTC ($886 million), El Salvador has a stack of 6,118 BTC ($509.5 million). Unlike North Korea’s sly Bitcoin ownership, these two nations acquired their stash through well-meaning endeavors. El Salvador has pledged to acquire 1 BTC daily as a strategic reserve, while Bhutan leverages its rich hydroelectric power to mine the pioneering cryptocurrency. Meanwhile, above North Korea are the United States, China, and the United Kingdom. Notably, these global forces did not procure their bitcoins like the state-tied hackers but acquired them through seizures. The US has 198,109 BTC ($16.47 billion), China boasts 195,000 BTC, and the UK holds 61,245 BTC ($5.1 billion). #CryptoNewss

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