Ultron AI Morning News| 19/06/2024

 CryptoQuant CEO: Long-term Bitcoin holders sold $1.2 billion in the past two weeks


  Golden Finance reported that CryptoQuant CEO Ki Young Ju wrote that long-term Bitcoin holders sold $1.2 billion in the past two weeks, possibly through brokers. During the same period, ETF net flows were negative, with an outflow of $460 million.

  If this $1.6 billion of sell-side liquidity is not purchased over the counter, brokers may deposit BTC into exchanges, thereby affecting the market.


 Global Ethereum ETPs outperform Bitcoin counterparts ahead of anticipated ETF launch in US


  Global Ethereum exchange-traded products have outperformed their Bitcoin counterparts over the past week ahead of the highly-anticipated launch of spot Ethereum exchange-traded funds in the U.S. Ethereum ETPs generated net inflows for their fourth consecutive week, totaling 16,911 ETH, according to data from K33 Research. Meanwhile, Bitcoin ETPs saw net outflows of 12,523 BTC — the third-worst week to date — primarily driven by U.S. spot Bitcoin ETF net outflows.


MicroStrategy Is Pioneering Bitcoin Capital Markets, Bernstein Says

  MicroStrategy (MSTR) is not just a software firm diversifying its corporate treasury into cryptocurrency, it is pioneering bitcoin (BTC) capital markets, broker Bernstein said in a research report on Tuesday. The broker notes that to date MicroStrategy has raised $4 billion of convertible debt for the solpurpose of buying more bitcoin. A convertible bond is a type of debt security that can be converted into shares. Michael Saylor’s firm currently holds 214,400 bitcoin worth about $14.5 billion.


Media: Changpeng Zhao Arrives at California Federal Prison to Serve Sentence

  Changpeng Zhao, former CEO of Binance, has arrived at a maximum security federal prison in California. Previously, he was sentenced to four months in prison for money laundering. After the verdict was announced, Zhao is still at large due to the peculiarities of the legal process. Changpeng Zhao (CZ), former CEO of the Binance cryptocurrency exchange, arrived at a federal prison in California. CNBC reported on this. Zhao's defense team confirmed to the media that their client has been detained. He will serve his sentence at the Lompoc Federal Correctional Institution. FCI Lompoc is reportedly a maximum security federal prison for male prisoners. On average, offenders for drug crimes and/or other non-violent crimes are sentenced to 1 to 15 years in prison. We previously reported that CZ has not yet begun serving his sentence due to the peculiarities of the legal process.


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