Here are the top three news stories over the past day by U.Today.
142,709,679,640 SHIB left Coinbase Prime: What’s going on?
According to data provided by Arkham Intelligence, Coinbase Prime recently transferred over 142.7 billion SHIB tokens, worth just above $2 million at the time, to an inactive wallet, without any explanation. There were a total of 11 transactions from Coinbase Prime’s hot wallet, with 10 transfers carrying 13.546 billion SHIB each and one smaller one moving 7.25 billion SHIB. Notably, the receiving wallet has not engaged with any other on-chain elements or shown any movement of tokens since the deposit. Currently, the wallet still holds the full amount of SHIB it received via the 11 transfers. Even though transfers of this scale are not unusual for Coinbase Prime as it handles large institutional activity, this one stands out due to a lack of obvious purpose or attached context. Market watchers were left to wonder whether it is part of a larger strategy or simply a move to cold storage.
Cardano ETF deadline this week — Will SEC approve?
As reported by @Cardanians_io X account in a recent post, the U.S. SEC is expected to announce its decision regarding Grayscale’s ADA ETF application this week. As a reminder, Grayscale submitted an application on Feb. 11 to launch a spot ADA ETF and trade it on the New York Stock Exchange. According to the screenshot from the SEC document acknowledging this filing, the decision deadline was set for May 29, suggesting that approval may well take place this week. Meanwhile, Swedish wealth management company Virtune launched a Staked Cardano ETP (VIRADAE) on Nasdaq Helsinki earlier this year, offering ADA 1:1 physical support and a 2% yearly staking reward. Investors are now more optimistic about the ADA ETF being greenlit by regulators; Polymarket users now estimate a 71% chance of Grayscale’s ADA ETF approval, compared to 55% on May 15.
Strategy’s $40 billion Bitcoin bet just got bigger
Yesterday, May 26, Strategy announced on its official X handle that it has purchased an additional $427.1 million worth of Bitcoin. This brought the company’s total investment to over $40.6 billion, with the average purchase price being above the $106,000 level this time around. For the first time, Strategy’s average purchase price has now approached the $70,000 level. Currently, Strategy’s total Bitcoin holdings are valued at nearly $64 billion. The company is actively raising funds through a new $2.1 billion equity offering to continue its Bitcoin purchases. Strategy is selling its STRF stock that pays a 10% dividend on an annual basis. Strategy cofounder Michael Saylor emphasized that the company plans to keep buying Bitcoin regardless of its rising price: “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.”
