Bitget starts recovery from $387.5 million breach with Bitcoin withdrawals now live
Bitget restores withdrawals after its $387.5M breach as Bitcoin slips on rising yields while Strategy and Bitmine keep expanding their crypto treasuries.
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Public companies are turning their balance sheets into crypto vaults.
Strategy, Bitmine, and DeFi Dev Corp are all racing to stockpile tokens.
Meanwhile, rising Treasury yields are putting fresh pressure on prices.
And Goldman Sachs sees market breadth at its thinnest since 2000.
Today's newsletter covers the collision of corporate conviction and macro doubt.
Bitget restarts Bitcoin withdrawals after revealing how hackers got in
Bitget's attackers stole internal credentials through a third-party vendor vulnerability.
CEO Gracy Chen disclosed the attack path during a livestream as the exchange processed over 9,500 pending withdrawal orders.
The breach highlights how even large exchanges remain exposed through their supply chains.
Markets
Rising Treasury yields drag crypto lower as market cracks widen
The 10-year Treasury yield hit 5.21%, its highest level in nearly two decades.
That pressure rippled into risk assets as Goldman Sachs flagged the median S&P 500 stock sits 16% below its yearly high.
The index looks healthy on the surface, but most stocks are quietly bleeding, a dynamic crypto hasn't escaped.
BTC slipped below $84K, ETH traded near $2,675, SOL eased toward $118, and XRP settled near $1.49.
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Strategy drops $143M on more Bitcoin, now holds nearly 848K BTC
Strategy bought 1,665 Bitcoin last week at an average price of about $86K each.
The purchase was funded entirely through MSTR share sales, bringing total holdings to 847,666 BTC worth $70B.
That stack now rivals some sovereign wealth funds in sheer size.
Bitmine now holds 6 million ETH, roughly 5% of total supply
Bitmine Immersion Technologies has amassed a $16B Ethereum position.
Combined with cash and other assets, the firm's total portfolio tops $17B.
A single company holding that much ETH means its stock now trades like a leveraged Ethereum bet.
DeFi Dev Corp snaps up another 48K SOL, building a Solana war chest
DeFi Development Corp added 55,491 SOL tokens worth roughly $6M to its treasury.
The Nasdaq-listed firm now holds about 2.5 million SOL, positioning itself as a dedicated Solana accumulation vehicle.
If SOL moves 10% in either direction, this company feels it immediately.
On Our Radar
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Meme of the Day
Until next time.
Estéfano
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