A sharp selloff in Bitcoin, ether and XRP led to roughly $1.5 billion in leveraged positions being forcibly closed. Bets on prices rising made up nearly 84% of those liquidations. Binance accounted for almost half of the total forced closures. A subsequent rebound has since begun to squeeze short sellers.
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Developers working on the XRP Ledger have proposed a set of fixes that would narrow which accounts are permitted to hold restricted, or permissioned, tokens on the network. The changes are aimed at tightening control over that category of asset. The XRP Ledger Foundation has stated that no users were affected by the issue that prompted the fixes. The report is based on information from CoinDesk and offers few further details about the specific technical changes.
CoinDCX, India's largest cryptocurrency exchange, has limited new futures positions following a security incident at Binance. The incident disrupted a key liquidity provider that CoinDCX relies on. The exchange said deposits, withdrawals, and customer funds are not affected. The restriction is aimed at managing the liquidity disruption rather than addressing any direct breach on CoinDCX's own platform.
The 18,270 bitcoin stolen in the Binance hack have been divided among 19 separate wallets, according to a CoinDesk blockchain trace. Seventeen of these wallets each hold exactly 1,000 BTC. None of the wallets has moved any funds since Thursday night. The funds are valued at roughly $1.4 billion, and the split makes it harder for authorities or exchanges to freeze the assets in full.
Bitcoin and ether fell following a suspected security breach at Binance that involves roughly $6.3 billion. A separate exploit on the Polymarket platform also weighed on sentiment across the crypto market. Standard Chartered warned that crypto prices could stay under pressure before they establish a floor. The article's details are limited to these developments and the bank's outlook.
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