Spot Bitcoin ETF trading volume reaches $10 billion for the first time

On March 5, 2024, trading volume for spot Bitcoin ETFs reached $10 billion. This is a new all-time high, noted Bloomberg analyst Eric Balchunas.

The previous record in this sector was recorded on February 28, when the trading volume of spot Bitcoin ETFs approached $6 billion. According to Balciunas, the increase in indicators is explained by high volatility in the crypto market.

Let us remind you that on March 5, the price of Bitcoin set a new historical high, reaching $69,129 on the Coinbase exchange. After the jump, it fell back to less than $59,500.

 

FLOKI rises after burn vote

The price of the Floki token (FLOKI) increased by more than 100% after a community vote approved a proposal to burn 2% of its supply. Almost 90% of the vote supported the burning, with a significant contribution from one of the most influential voters. The decision to remove these tokens from circulation is aimed at increasing network security and optimism towards the token. The tokens to be burned will come from the supply held on the Multichain bridge, which suffered a major attack in July 2023. The rise in FLOKI's price is part of a larger trend of increasing interest in investing in memcoins, with other popular tokens such as Dogecoin (DOGE), Shina Inu (SHIB) and Bonk (BONK) also experiencing significant price increases.

 

Stanford University Foundation invested 7% of its capital in Bitcoin

The Charles Blyth Foundation at Stanford University has invested 7% of its capital under management (AUM) in Bitcoin. This was stated by the head of the blockchain club based on the institution, Kole Li.

According to him, the fund invested in iShares Bitcoin Trust (IBIT) shares from BlackRock. At the same time, the average cost of 1 BTC in the organization’s portfolio was $45,000.

Lee did not indicate how much he was talking about. However, he noted that the decision was determined by three main factors:

- capital inflow into spot Bitcoin ETFs;

- market cyclicality;

- hedging risks in the epicenter of the financial crisis and war.

 

Decentralized exchange WOOFi suffered $8.75 million hack

On March 5, 2024, the decentralized cryptocurrency exchange WOOFi suffered a hacker attack worth more than $8.75 million.

The project team, in a post on X (formerly Twitter), stated that "one of the WOOFi oracles on Arbitrum was attacked using flash loans."

Additionally, the team added that other products such as WOOFi Stake, Earn and Pro remain unharmed and functioning as usual.

WOOFi also offered the attacker a 10% reward for returning the stolen funds.

Amid this news, the WOO token fell by 8% in 24 hours.

 

Worldcoin has been banned in Spain

The Worldcoin cryptocurrency project was blocked in Spain. The local data protection agency (AEPD) has demanded that the company immediately stop collecting personal information in the country and stop using the data it has already collected. This was reported by the Financial Times with reference to an email.

 

According to journalists, the Spanish regulator will officially announce the “precautionary measure” on March 6 and will give Worldcoin 72 hours to “demonstrate its compliance with the order.”

 

We note that at the end of 2023, AEPD expressed concern about the use of iris scanning technology by minors. This prompted Worldcoin to introduce new age verification tests.

 

Arkham analysts tracked $1.3 billion worth of Bitcoin assets of Tesla and SpaceX

The analytical platform Arkham Intelligence has discovered the Bitcoin wallets of Elon Musk’s companies. We are talking about companies Tesla and SpaceX, whose addresses users can now track.

Experts noted that financial flows from the identified wallets coincide with previously published company reports. SpaceX has 8,290 BTC on its balance sheet across 28 addresses, which in monetary terms is estimated at $554 million.

 

Tesla's Bitcoin reserves contain 11,510 BTC across 68 addresses. In monetary terms, the digital assets of the electric car manufacturer reach $769 million.