[News Brief] Jun 2, morning | Mt. Gox-linked cold wallet transfers 10,423 BTC to a new address

Mt. Gox-linked cold wallet transfers 10,423 BTC to a new address

According to Odaily, crypto analyst Ai Yi said a Mt. Gox-linked cold wallet transferred 10,423 BTC to a newly created address. The transfer was worth about $739 million.

The same address also sent 116 BTC to a Mt. Gox hot wallet. That transfer was worth about $8.25 million.

No further transfers from the 10,423 BTC moved to the new address have been confirmed yet, and its specific purpose remains unknown.

This is the first large on-chain transfer from Mt. Gox-linked addresses in about six months.

U.S. spot Bitcoin ETFs record net outflows for 11 straight trading days

Odaily, citing SoSoValue data, reported that U.S. spot Bitcoin ETFs saw total net outflows of $484 million on June 1 Eastern Time.

The streak of net outflows from spot Bitcoin ETFs extended to 11 trading days. BlackRock's IBIT recorded the largest daily net outflow at $440 million. IBIT's cumulative net inflows stand at $63.367 billion.

Meanwhile, Morgan Stanley's ETF MSBT posted net inflows of $6.1434 million. MSBT's cumulative net inflows stand at $239 million.

Total net assets of spot Bitcoin ETFs are $91.16 billion, representing 6.37% of Bitcoin's total market capitalization. Cumulative net inflows were tallied at $55.179 billion.

Hong Kong to remove transitional arrangements for existing virtual asset businesses

Hong Kong's Financial Services and the Treasury Bureau said it will not introduce transitional arrangements for existing virtual asset service providers.

According to PANews, acting Deputy Secretary for Financial Services and the Treasury Chan Ho-lim said in a Legislative Council speech that no separate grace period will be provided under the new regulatory framework for virtual asset trading, custody, advisory, and management services, in order to prevent regulatory gaps.

He explained that institutions currently operating in the sector or seeking to enter it should contact regulators as soon as possible and begin the pre-application process.

At present, six virtual asset trading platforms in Hong Kong are under review. Unless exempt, a license is required to provide virtual asset trading, custody, advisory, or management services, and the new regulatory proposal includes penalty provisions at a level similar to the current framework.

Strive buys 2,500 Bitcoin for $183 million

Strive announced that it purchased 2,500 Bitcoin for $183 million. Following the acquisition, the company's Bitcoin holdings increased to 19,000 BTC.

The source is @pete_rizzo_. Additional corporate Bitcoin purchases are often interpreted as a gauge of institutional demand and the broader trend of including Bitcoin as a treasury asset.

Capital B seeks approval for up to $122 billion in fundraising to support Bitcoin treasury reserve strategy

Capital B has submitted a proposal to shareholders seeking approval for up to $122 billion in fundraising to accelerate its Bitcoin treasury reserve strategy.

Source: Odaily. Alexandre Laizet, a board member overseeing Capital B's Bitcoin strategy, said on X that the company had submitted a new proposal to the board. The proposal includes an equity raise of up to €5 billion, or about $5.8 billion, through the issuance of 12.5 billion shares at current par value, along with authorization for €100 billion, or about $116 billion, in credit facilities.

Shareholders will be able to vote online ahead of the joint general meeting on June 17. Earlier, Capital B bought 192 BTC for $15.2 million and later added 4 BTC, bringing its total holdings to 3,139 BTC.

2,440 BTC transferred from unknown wallet to Coinbase Institutional

According to Whale Alert, 2,440 BTC was transferred from an unknown wallet to Coinbase Institutional.

The transfer was worth about $166.74 million. Large Bitcoin transfers to exchanges may indicate preparations for selling, or may be related to custody or over-the-counter trading, so the market is closely watching the fund flow.

USDC Treasury mints another 250 million USDC on Solana

According to PANews, on-chain data shows that the USDC Treasury minted an additional 250 million USDC on the Solana blockchain at 8:41 p.m. Korea time on June 2.

The issuance is an on-chain movement that the market is watching closely in relation to changes in stablecoin liquidity on the Solana network.

34,740 ETH transferred from Bitfinex to a new external wallet

According to Whale Alert, 34,740 ETH was transferred from Bitfinex to a newly created external wallet.

The transfer was worth about $69.04 million. Large Ethereum outflows from exchanges are commonly interpreted as a sign of reduced selling pressure, though the actual purpose of the transfer has not been confirmed.

U.S. spot Ethereum ETFs see $44.4389 million in net outflows

According to Odaily, citing SoSoValue data, U.S. spot Ethereum ETFs recorded total net outflows of $44.4389 million on June 1 Eastern Time.

BlackRock's ETHA recorded the largest net outflow, with $34.9728 million leaving the fund in a single day. Fidelity's FETH saw net outflows of $9.4662 million.

Total net assets of spot Ethereum ETFs stand at $11.14 billion, representing 4.6% of Ethereum's total market capitalization. Cumulative net inflows were tallied at $11.33 billion.

Ripple expands Washington, D.C. office for U.S. policy engagement

PANews reported that Ripple is expanding its Washington, D.C. office to strengthen communication with the U.S. Congress, regulators, and industry partners.

The expansion is aimed at increasing Ripple's participation in the U.S. crypto policymaking process. Discussions around digital asset regulatory frameworks and stablecoin-related legislation have continued in the United States.