Crypto Shenanigans: SHIB Exodus, Cardano ETF Drama, and Bitcoin Bonanza! 😂💰

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Ah, dear reader, gather ’round as we delve into the curious happenings of the crypto world, where fortunes are made and lost faster than one can say “blockchain.” 🤑

142,709,679,640 SHIB left Coinbase Prime: What’s going on?

In a twist that would make even the most seasoned detective raise an eyebrow, it appears that Coinbase Prime has decided to play a little game of hide and seek with a staggering 142.7 billion SHIB tokens. Yes, you read that right—worth a mere $2 million at the time, these tokens have been whisked away to an inactive wallet, leaving us all scratching our heads in bewilderment. 🤔

Arkham Intelligence, the ever-watchful guardian of crypto data, reported that there were 11 transactions from Coinbase Prime’s hot wallet. Ten of these transfers were a neat 13.546 billion SHIB each, while one smaller, more modest transfer moved 7.25 billion SHIB. The receiving wallet, however, seems to be on a permanent vacation, showing no signs of life or further transactions since its unexpected windfall. Is this a masterstroke of strategy or merely a whimsical act of cold storage? The market watchers are left to ponder, perhaps over a cup of tea. ☕

Cardano ETF deadline this week — Will SEC approve?

Meanwhile, in the land of regulatory intrigue, the U.S. SEC is poised to unveil its decision regarding Grayscale’s ADA ETF application this week. The suspense is palpable! Grayscale, in a move reminiscent of a high-stakes poker game, submitted its application on February 11, hoping to launch a spot ADA ETF on the New York Stock Exchange. The deadline for this nail-biting decision is set for May 29, and investors are holding their breath, praying for a favorable outcome. 🙏

In a delightful twist, the Swedish wealth management company Virtune has launched a Staked Cardano ETP (VIRADAE) on Nasdaq Helsinki, offering a 1:1 physical support for ADA and a 2% yearly staking reward. Investors are now feeling a bit more optimistic, with Polymarket users estimating a 71% chance of Grayscale’s ADA ETF approval—up from a mere 55% just a fortnight ago. Who knew the world of crypto could be so thrilling? 🎢

Strategy’s $40 billion Bitcoin bet just got bigger

And as if the drama couldn’t escalate further, Strategy has announced a rather audacious move, purchasing an additional $427.1 million worth of Bitcoin. This brings their total investment to a jaw-dropping $40.6 billion, with an average purchase price now hovering above the $106,000 mark. For the first time, their average purchase price is inching closer to the $70,000 level. Talk about commitment! 💪

Currently, Strategy’s Bitcoin holdings are valued at nearly $64 billion, and they are not stopping there. The company is raising funds through a new $2.1 billion equity offering to continue their Bitcoin spree. Co-founder Michael Saylor, with the confidence of a seasoned gambler, declared, “We’ll just keep buying. The price is gonna go up. It’s gonna get exponentially harder, and the price is going to go up exponentially higher, and we’ll just keep buying.” One can only hope he has a good supply of antacids on hand! 😅

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2025-05-27 19:17