The sharp reversal aligned with a cautious mood among traders after Monday’s market rally following the ambitious plan, as a CoinDesk analysis previously noted.
THORChain was one of the platforms Bybit hackers used to launder funds, according to observers.
$165 million in long ETH positions have been liquidated in the last 12 hours.
The company is expected to raise $4 billion at a $35 billion valuation.
Mike Selig, the newly-appointed chief counsel for the SEC’s Crypto Task Force, was previously a New York-based partner at Willkie Farr & Gallagher LLP.
The president's AI and crypto czar says he's sold his crypto positions, but questions still remain about his other investments.
The U.S. stock market has turned lower as well ahead of coming tariffs against major trade partners.
Weinrib previously worked at crypto exchanges Binance.US and Gemini.
Investor withdrawals hit $3.8B over three weeks amid Bybit hack, Fed uncertainty, and profit-taking from 19-week inflow streak.
At one point the trader was just $50 away from being liquidated.