exit

According to BBX data, yesterday the capital actions of mining companies' AI transformation coincided with the innovation of cryptocurrency ETF products, with the following core dynamics:HIVE Digital Technologies Ltd. (NASDAQ / TSX-V: $HIVE) announced on April 22 the completion of a $115 million private placement of 0% convertible preferred notes (including full exercise of the underwriters' over-allotment option), with the notes maturing in 2031 and estimated net proceeds of approximately $109.5 million; the initial conversion price of the notes is about $2.57 per share, representing a premium of approximately 17.5% over the closing price on April 16, while implementing capped call options to hedge against dilution risk. The funds will be used for GPU procurement and data center construction, and the company has also received conditional approval from the Toronto Stock Exchange, expecting to upgrade from the TSX Venture Exchange to the TSX main board around April 30.Keel Infrastructure Corp. (NASDAQ: $KEEL) (formerly Bitfarms) announced on April 22 the completion of the sale of its 70 MW Paso Pe mining site in Paraguay, with actual proceeds after delivery adjustments of approximately $13 million (the original agreed price was up to $30 million, with the difference reflecting delivery adjustments). CEO Ben Gagnon stated that this marks the company's complete exit from Latin American assets, and the proceeds will be fully redeployed to North American HPC/AI infrastructure pipelines; following the announcement, the company's stock price rose by about 4%.GSR (privately held) officially launched the GSR Crypto Core3 ETF (NASDAQ: $BESO) on Nasdaq on April 22, which is the first multi-asset actively managed cryptocurrency ETF in the U.S. covering Bitcoin, Ethereum, and Solana, with a management fee of 1.00%, rebalancing weekly based on research-driven signals, and executing on-chain staking for yield on portions of its Ethereum and Solana holdings; the investment advisor is Framework Digital Advisors, and the chief market maker is Jane Street Capital.

The crypto fund C1 Fund announced a partial exit from its investment in Ripple, achieving approximately 150% returns in less than four months, but has not disclosed the amount of profit. The portfolio of C1 Fund also includes Kraken, Consensys, and Chainalysis, and it stated that it will continue to invest in high-quality crypto companies in the future.

Binance co-founder He Yi responded to questions about personal plans and the company's management structure at the BNB Chain event in Hong Kong.Regarding whether he would write a book, He Yi said, "Never say never," but at this stage, he has no desire to express that and is not considering writing a book for now. When discussing how to face challenges, He Yi summarized two points: first, the mutual trust between Binance and its users; second, having great employees is crucial.Regarding changes in the management structure, He Yi pointed out that CZ is the founder and the foundation, but he has currently stepped back from management. The current management structure is led by him and Richard Teng, and they will continue to seek suitable partners globally in the future. On this basis, Binance will focus on applying for more global licenses, with Richard responsible for establishing standards, while He Yi focuses on user growth and service.

According to monitoring by Hyperinsight, a whale starting with 0x01f has completely closed a BTC short position in the past half hour, recording a loss of approximately $56,000, with an average closing price of $74,942.The position was opened early this morning, with a size of 139 BTC, approximately $10.42 million. Address: 0x01f135c734b4aae018ebf4e7995c560a38422e50.

According to Theblock, Covenant AI, the main subnet developer on Bittensor, has announced its exit from Bittensor. Covenant AI founder Sam Dare stated that Bittensor attracted builders, miners, validators, and investors into this ecosystem because of its promise of not being controlled by any single entity. However, this promise is a lie.Dare listed Bittensor co-founder Jacob Steeves as a major reason for the departure. He claimed that Jacob has been exercising authority over the subnet to regain control of Covenant, as Covenant has grown too large to manage.It is reported that after Covenant's announcement, the price of Bittensor's TAO token plummeted significantly, dropping from $338 to $285 in a short period, a decrease of 15%.

According to monitoring by Hyperinsight, in the past 10 minutes, the top 4 short addresses on Hyperliquid (0x4a2) closed their short positions all at once, causing a temporary price increase at the 15-minute level. The closing scale reached 15,000 ETH, approximately 32.94 million USD, with a closing price of 2,196 USD, recording a profit of about 260,000 USD.

According to crypto analyst Ai Yi @ai_9684xtpa, a certain address accumulated 4,827 ETH at approximately $2,047.53 from April 4 to April 5, and sold it on April 7 at approximately $2,100.94.This batch of ETH was transferred to Binance and exchanged for USDT in the past 3 hours, with a transaction amount of about $10.14 million, realizing a profit of approximately $256,000 from this swing trade.

Aave founder Stani Kulechov tweeted that Aave respects Chaos Labs' decision to withdraw from its risk management role and thanks them for their contributions over the past years. The smart contracts, asset listings, and network deployments of the Aave protocol are not affected, and both parties will maintain close cooperation during the withdrawal process.Aave currently employs a dual-layer economic risk management model, jointly managed by Chaos Labs and LlamaRisk. Given the scale of the Aave protocol, it will continue to maintain the dual-layer model in the future and additionally add a technical risk layer managed by Aave Labs. Aave Labs will work closely with LlamaRisk to ensure that risk coverage remains uninterrupted during the transition and to support LlamaRisk in increasing its budget and team size.

According to Jin Shi reports, Middle East issue scholar Mohammad Ali Shabani stated in an interview that he believes U.S. President Trump is ready to fulfill his threat to strike Iran's critical infrastructure, which poses a serious risk of escalating the regional situation. Iran, on the other hand, has conveyed its signal of "not backing down" to the U.S. by launching attacks on Kuwaiti infrastructure. He added, "The current situation is somewhat similar to a standoff, with neither side able to exit gracefully. In this context, I believe the possibility of a serious escalation in the region within the next 24 hours is very high."

On-chain analyst Murphy stated that the average cost of all loss-making Bitcoin chips has currently fallen below $100,000, now at only $93,600. This means that under the current chip structure, BTC will reach the market average breakeven point when it rises back to $93,000. During the two rapid declines at the end of last year and the beginning of this year, a large number of high-position trapped chips chose to cut losses and exit, lowering the average cost of overall floating loss chips.It is also observed that the average cost of loss-making chips has a deviation coefficient of 1.4 compared to the current 30-day average price of BTC, while in the past three bear market bottoms, the deviation coefficient has exceeded 2 at least. When the average deviation coefficient is greater than or equal to 2, it indicates that the market has entered an absolute bottom range, at which point the price of BTC is less than 50% of the average cost of loss-making chips. To meet this condition, the lowest point of BTC in this round would need to drop to $46,800, but historical patterns may not always hold true. This bear market may be less painful than any previous bear market. According to PolyBeats monitoring, in the market related to whether Bitcoin will reach $60,000 or $80,000 first on Polymarket, the probability of reaching $60,000 first is 68%, while the probability of reaching $80,000 first is 32%.

According to monitoring by Hyperinsight, the whale starting with 0x664 closed all of its SOL short positions, recording a loss of approximately $160,000, with an average closing price of $84.9.This short position was fully opened after the address deposited about $440,000 into Hyperliquid in the past 2 hours, with an average opening price of $83.5 and a position size of $9.096 million. After the stop-loss closure, the address withdrew the remaining $272,000 from the account completely.

According to GMGN data, the Meme coin WhiteWhale on the Solana chain has plummeted by about 50%, with a current market value of $12 million and a 24-hour trading volume of $5.4 million.The well-known trader The White Whale announced that he is officially stepping down from his leadership role in WhiteWhale and has permanently locked 500 million WhiteWhale tokens in one go today, valued at about $13 million at the time of locking. The main reason for his departure is a family crisis, coupled with the community's ongoing demands to "do more to pump the price," which has left him feeling exhausted and gradually losing enthusiasm for cryptocurrency. This Meme coin was initially created by fans using the well-known trader The White Whale's avatar on X and Hyperliquid, and was later taken over by The White Whale, who aggressively accumulated it.ChainCatcher reminds users that trading Meme coins is highly volatile, largely dependent on market sentiment and speculative hype, and has no actual value or use case, so investors should be aware of the risks.

According to monitoring by Hyperinsight, "Strategy Opponent" (0x94d3) has completely closed its 40x leveraged BTC long position, with an average closing price of approximately $68,308, recording a loss of about $249,800.This long position continued to build after BTC fell below $69,000 early this morning, expanding to a scale of 439.9 BTC, approximately $30.3 million, and has now chosen to stop-loss and exit within the past half hour. Currently, this address has opened a short position of about $500,000 in BTC, with an average price of $67,923.At present, this address also holds a 20x leveraged BRENTOIL long position, with a holding scale of $25.74 million, an average price of $98.64, and an unrealized profit of $1.16 million (34%).

According to monitoring by Hyperinsight, a whale temporarily closed all of its BTC short positions, with an average closing price of approximately $69,929.The size of this short position was 300 BTC, equivalent to about $20.97 million, with an average opening price of $70,472. After BTC fell below $70,000, this address chose to take profits and exit the short position, which had a holding period of 33 hours, recording a total profit of approximately $265,000.

According to on-chain data analysis platform Onchain Lens, a certain whale address has deposited 51,750 SOL (approximately 4.75 million USD) into Binance after being inactive for 7 months.The whale had previously withdrawn 50,000 SOL for approximately 9.12 million USD and transferred it to staking, resulting in a loss of about 4.37 million USD compared to the initial cost in this sale.

The development team behind Across Protocol, Risk Labs, has proposed to dissolve the existing DAO structure and transform the project into a U.S. C Corporation. The team pointed out that the current token and DAO architecture have significantly impacted its ability to collaborate with institutional and corporate partners, and a traditional corporate structure will help explore new business opportunities.According to the proposal, ACX token holders can choose to exchange their tokens for equity in the new company at a 1:1 ratio or redeem them for USDC at a price of $0.04375 each, which is a 25% premium over the average price of the past 30 days. Holders of over 5 million tokens can directly convert to equity, while smaller holders can participate through a Special Purpose Vehicle (SPV).After the announcement, ACX surged 70% in a single day to $0.06. The redemption window is expected to open within three months after the proposal is approved, lasting for six months. Co-founder Hart Lambur emphasized that the formal decision must be approved by a DAO vote.

Liquid Capital founder Yi Lihua posted on platform X: "The biggest problem in the crypto industry in recent years is the decline of innovation, which stems from two aspects. First, the previous U.S. government's tightening of crypto policies, which should be resolved with the passage of the recent crypto infrastructure bill. Second, Binance's requirement for projects to adhere to a 1+3 year lock-up mechanism for crypto VCs.I believe Binance's original intention is good, fostering a long-term investment mindset. However, the consequence of this mechanism is that project parties, market makers, and exchanges run away with liquidity first, while VCs face a long unlocking period that leads to zero. VCs originally bore the greatest risks in the primary market, yet they also have to bear the risk of exiting last, which is clearly contrary to traditional investment markets. The result of this is the collective demise of crypto VCs, making it difficult for quality entrepreneurs to secure funding and reducing industry innovation.I suggest giving Zhao Changpeng a better exit mechanism for crypto VCs to activate VC capital, which will benefit industry innovation and also be more favorable for exchanges to list quality assets."