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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.
01:05:49
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Quick takeaways
- Bitcoin's current downward trend contrasts with Ethereum's stability amidst a $1.4 billion hack, affecting market sentiments towards altcoins.
- Data reveals that a significant portion of U.S. Bitcoin ETF buying is for trading rather than long-term holding, impacting demand projections.
Deep dives
Market Overview and Recent Events
Bitcoin is currently experiencing a downward trend, trading at $94,500, while Ethereum shows a relative steadiness despite a significant hack resulting in $1.4 billion stolen. Solana has seen a dramatic decrease, raising questions about market sentiment and interest in meme coins after a surge in hype. There’s speculation regarding the impact of an interview with Bybit's CEO that analyzed the hack and broader market conditions, which has led to varied interpretations and discussions among investors. Additionally, there is concern over outflows from crypto products, with analysts noting net outflows of approximately $500 million last week.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode