'Machi' ETH Long Positions Accumulate Losses Exceeding $19.35 Million

[An address withdrew approximately 186,600 SOL from Binance within 11 days] According to OnchainLens monitoring, a newly created wallet withdrew 116,600 SOL from Binance today, valued at approximately $16.2 million. Over the past 11 days, the address has cumulatively withdrawn 186,600 SOL from Binance, totaling approximately $27.19 million.

Monitoring shows that long accounts have long 21 types of altcoins, with a current floating loss of $1.386 million. Only ASTER has made profits from multiple orders, while the rest are in a floating loss state. Among them, HYPE has a floating loss of $218000 due to its large position. In addition, the TWAP buy order for this account has not been cancelled, and the pending order price shows that if the market rebounds, it will continue to be bullish. (Auntie Ai)

[Wintermute Founder: The Problem with the Industry Lies in Exchanges Combining Multiple Functions] DeFiance Capital CEO Arthur Cheong posted on X this morning, stating that the product design and market structure of crypto derivatives (especially perpetual contracts) are the biggest structural issues facing the industry. Without improvement, sustainable growth will be difficult to achieve. Wintermute founder Evgeny Gaevoy responded, pointing out that traditional finance has already addressed these flaws. The real issue lies with centralized and pseudo-decentralized exchanges that combine the roles of executing brokers, central limit order books, and custodial services into one.

Monitoring shows that a trader was forced to close multiple short positions worth over $3 million due to a slight increase, and subsequently opened ZEC 10 times leveraged short positions worth a total of $48.47 million through three wallets, with a floating profit of $3.36 million. The relevant wallet addresses are the main account and two sub accounts. （Onchain Lens）

LevelField has received conditional approval from the state of Illinois to acquire Burling Bank in Chicago. If the transaction is completed, the bank will become the first FDIC insured bank in the United States to provide comprehensive cryptocurrency services. （Cointelegraph）