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Crypto & Web3CoinDesk ·

Hex Founder Richard Heart Reportedly Arrested in Istanbul

Turkish media report that Richard Heart, founder of the crypto project Hex, has been detained in Istanbul. Police reportedly conducted a raid on his residence in the city. During the search, officers allegedly seized about $4 million in cash and 64 luxury watches. The reports did not provide further details on the charges or the legal basis for the arrest. The information comes from Turkish media outlets as relayed by CoinDesk.

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Crypto & Web3CoinDesk ·

Fink Says Data Center Construction Pause Could Trigger US Recession

BlackRock CEO Larry Fink has warned that a moratorium on data center construction in the United States could push the economy into recession. He also raised concerns about the country's national debt, which he noted has surpassed $40 trillion. The comments highlight how heavily the economy now relies on data center investment. The source article does not provide further details on the timing or specifics of any proposed moratorium.

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Crypto & Web3CoinDesk ·

Nearly $1 Billion in Crypto Bets Liquidated as Bitcoin, Ether and XRP Fall

Roughly $1 billion in leveraged cryptocurrency positions were forced to close as bitcoin, ether and XRP prices declined. Ether made up nearly 60% of these forced liquidations across the two largest cryptocurrencies. The ether price dropped about twice as sharply as bitcoin during the slide. Forced closures occur when traders' leveraged positions fall below required margin levels, amplifying market moves. The article does not specify the exact date or the precise size of each asset's decline.