🐋 Billions in ETH bought

What we’ll cover today:

🐋 ETH whales scoop $3B in just two days

🚔 Bitsonic CEO adds more jail time for fraud

🪑 Barry Silbert returns to lead Grayscale’s next chapter

ETH Whales Are Back in Town 🐋

Ethereum (ETH) just got a big vote of confidence from whales and institutions, scooping billions worth in just 48 hours.

🚨 Breaking News
Over $3 billion in ETH was bought by 14 new whale wallets in two days, signaling major bullish interest.

⚡ Wire Simplified

• ETH jumped 5.7% to $3,730 before cooling at $3,650.

• Whale wallets bought 856,000 ETH worth $3.16B in two days.

• Institutional holdings (SER) surged from $3B to $10.8B in six weeks.

• ETFs still saw $129M outflows last week despite big buys.

• Price must beat $3,800–$3,900 resistance to run higher.

✔️ Straight to the Point
Big whales are hungry for ETH again, but without breaking $3,800, this rally could just be a fancy warm-up lap.

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Bitsonic Boss Bags Another Jail Term 🚔

Bitsonic CEO Shin Jinwook just got six extra months in prison for another crypto fraud trick, yes, round two.

🚨 Breaking News
Shin defrauded $72K more by manipulating Bitsonic Coin prices, on top of his original $7.5M fraud conviction in 2023.

⚡ Wire Simplified

• Shin’s sentence: 7 years + 6 months.

• Manipulated BSC token price to fool investors.

• Used fake cash deposits to inflate trading volume.

• Cashed out in BTC/ETH, then invested elsewhere.

• Bitsonic shut down in Aug 2021 due to “issues.”

✔️ Straight to the Point
Shin’s crypto crime spree keeps stacking years in prison, making him a strong contender for the “Hodl Behind Bars” award.

Barry Silbert is Back at Grayscale 🪑

Barry Silbert, Grayscale’s founder, has returned as board chair, just as the crypto giant gears up for its next phase.

🚨 Breaking News
Silbert replaces Mark Shifke as chair, while Grayscale adds four C-suite hires to supercharge operations and investor offerings.

⚡ Wire Simplified

• Silbert resigned in 2023 amid legal pressure on DCG.

• Grayscale now preps for “next growth phase.”

• New hires: COO, CMO, CHRO, CCO.

• SEC approved GBTC’s conversion to a spot BTC ETF.

• Company confidentially filed for IPO in the U.S.

✔️ Straight to the Point
Silbert’s comeback could spark fresh growth for Grayscale if legal clouds stay away and the new dream team delivers results.