The Wolf Of All Streets North Korea’s Lazarus Behind $1.4bn Bybit Hack | Crypto Town Hall
Feb 24, 2025
Matt Hogan, an analyst at Bitwise, shares insights on Bitcoin ETF buying trends and the impact of a massive $1.4 billion hack linked to North Korea. Dave Weisberger, a former Morgan Stanley employee, discusses the intricacies of the Bitcoin basis trade. Together, they explore the decline of meme coins and highlight the importance of focusing on projects with real utility. They also touch on the potential for a revival in decentralized finance and the role of AI in enhancing the security of cryptocurrency transactions, providing valuable tips for navigating this evolving landscape.
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Bitcoin ETF Trading
- Most Bitcoin ETF buying is for arbitrage or the carry trade, not long-term holding.
- This is because large brokerages cannot trade spot Bitcoin and must use futures.
Market Reactions to Bybit Hack
- Despite a $1.4 billion hack, Bitcoin and Ethereum remained relatively stable.
- Altcoins, however, experienced significant losses, with Solana down considerably.
Solana's Price Drop
- Solana's price drop is likely due to rumors of North Korean hackers laundering money through Pump.Fun.
- This raises concerns about regulatory action against Solana.