Bitcoin (BTC)

Prime Trust's on-chain Bitcoin balance was short of its internal ledger by as much as 1,400 BTC. Customer Bitcoin simply was not there. The bankruptcy estate has now filed a clawback lawsuit against Strike, expanding from last week's $970 million suit against Swan. The fine-print clause that allowed Prime to 'take and hold title to Custodial Property in its own name' is now the legal mechanism unwinding customer claims across multiple counterparties. Celsius was able to claw back ~$425m through preference litigation against 1,500+ settling account holders plus thousands of non-settlers sued individually, with the SDNY bankruptcy court ruling administrators can demand crypto back at *current* appreciated value, not petition-date value. That precedent is now ammo for Prime Trust against Swan, Strike, and their users. The qualified custodian name is not nearly as important as the way the assets are custodied, and legal agreements.

JUST IN: 🚨 SpaceX files for IPO, reveals 18,712 $BTC holdings worth more than $1.4 billion with an average purchase price near $35,000 https://t.co/HBqDKvRwOk

IPO filing documents from SpaceX reveal that it holds 18,712 BTC (approximately $1.4 billion). This is an overwhelming scale, more than double previous reports. Elon Musk, who looks to the stars, apparently has also solidified his base with crypto assets. Companies are moving to hold Bitcoin as a strategic asset. #SpaceX #Bitcoin #CryptoAsset #Bitcoin

The bear market may have started way earlier than the price chart suggests. Look at network usage, active wallets, transaction volume - and the price action of altcoins. "I think you can make an argument that the bear market started much sooner." And after months of extreme fear post-October 10th, "there were no bulls left" - which paradoxically is why a new low is unlikely. The people left holding are convicted capital. FT @BitcoinJesusETH @LGDoucet.