Crypto markets are just a touch softer but overall trading on thin volumes. Bitcoin is down 50bps to $16.7k and Ethereum is just hanging on to $1200 on $4.5B of volume. Novogratz has stepped up to save Bitcoin miner Argo with a $100M bailout from Galaxy — $65M will go to buy Argo while $35M will be a loan to help with the restructuring. Michael Saylor has added another $45M worth of Bitcoin to their stash since early November at MicroStrategy, bringing the total to a $2.2B position. Lastly, the infamous crypto trader Avraham Eisenberg, who exploited DeFi protocol Mango Markets for $110M, was arrested in Puerto Rico for market manipulation.
NFT volumes look strong with close to $25M on the day. ETH-NFTs were $19M and Solana-NFTs were $3M. BAYC remains on top with a $3M turnover with 21 buyers, while Pudgy Penguins sneaks into second with the continued hype on Twitter — PP had a $1.7M turnover across 191 trades. Otherdeed, MAYC, and BAKC round out the top 5 with a combined $4M in volumes. Gumi has announced a deeper partnership with SBI and Square Enix on their pivot into the Metaverse, raising $53M into the JV.
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