Liquidation Games Continue!

Welcome back to the Daily Coinsauce Newsletter! Let’s dive into today’s updates—there’s a lot to unpack!

📅 Today

The Bybit Hunt Continues!

According to on-chain data, Bybit hackers have laundered 499,000 ETH ($1.4B) stolen in one of the largest crypto heists ever.

The laundering, which took 10 days starting February 21, primarily used THORChain (72% of funds), ExCH, and the OKX Web3 Wallet.

83% of the stolen ETH (worth $1B) was converted to BTC and spread across 6,954 wallets.

77% of the funds remain traceable, 20% have gone dark, and 3% are frozen.

THORChain earned $5.5M in fees from the laundering.

This incident underscores the growing risk of DeFi platforms being exploited for illicit activity.

Liquidation Games Continue!

In the last 24 hours, at-least 194,342 traders were liquidated, with total liquidations reaching over $1 billion.

• President announces anticipated strategic reserve

• Market responds

• Binance send funds to wintermute

• Market returns to pre-announcement level

• $1 billion in liquidations in 24 hours

Total Manipulation!

Like always, we continue to advise our members to always stay cautious while leverage trading, and trade with strict discipline and risk management.

• Weekly on-chain insights.

• 3-5 altcoin chart setups.

• In-depth Bitcoin price updates.

• Occasional in-depth reports on altcoin gems.

• VC funding roundups.

• Market cycle insights.

• Premium Telegram trading group, and more.

🌎 Other News

• 2.8M $SOL Unstaked by Galaxy Digital on FTX Unlock Day!

• SEC Drops its Investigation into Yuga Labs

• Solana Leads All Chains in DEX Volume for 5th Consecutive Month

• Altcoin volatility rises after news of strategic crypto reserve

• Tesla’s China Sales Down 49%

📕 Educational

March is set to be a big month for crypto:

• March 6: CFTC forum on tokenized assets and stablecoins.

• March 7: White House crypto summit with Donald Trump.

• March 10-14: Senate Banking Committee votes on the stablecoin bill.

• March 21: SEC holds its first crypto roundtable.

Stay tuned for key updates.

📊 Stat of the day

🤣 Meme of the day

That concludes our update for today!

We appreciate you joining us for the latest news. We aim to provide the best-in-class insights and highlights that keep you well-informed and ready.

Remember to join us on Telegram and Twitter for additional updates and giveaways. Until then, see you next time!

Disclaimer: None of the content shared in the newsletter is financial advice. Always do your own research and analysis before investing.