Arthur Hayes: HYPE will soon reach a historic high

According to BizWatch, FocusAI, the largest shareholder of Busan Digital Asset Exchange, is seeking to acquire South Korean cryptocurrency exchange Flybit. Both parties have entered the final stage of discussing the details of the transaction, including the sale of shares held by Flybit CEO and largest shareholder Kim Seok jin. Flybit registered as a virtual asset service provider in 2021, but withdrew from the Korean won valuation market due to the inability to establish real name account partnerships with banks.

According to Lookonchain monitoring, loracle.hl (@ loraclexyz) has shorted HYPE for over $100 million, with a floating loss of over $230 million and a liquidation price of $69.49.

According to GlobeNewswire, BNB Chain's ecological perpetual contract and predictive market protocol IOTrader have completed a strategic financing of $3.8 million, with investors including Animoca Brands、ViaBTC Capital、Everwood Capital、CANDAQ、WAGMI Ventures、Credit Scend And Web3 Labs. This agreement has integrated perpetual futures, predictive markets, customized event markets, and AI assisted trading over the past 11 months, with a cumulative trading volume exceeding $1 billion and tens of thousands of monthly active traders. The IOI token has not yet been launched, the smart contract has passed a third-party security audit, and the white paper has been reported to the Irish central bank in accordance with the EU MiCA framework.

According to FOX Business reporter Darren Botelho citing threat detection data company estimates, the Iranian government controls approximately $7.7 billion in digital assets. The US Treasury Department has frozen approximately $500 million in Iran related cryptocurrency assets, of which $344 million was frozen last month. The CEO of 250 Digital Asset Management stated that although cryptocurrency is often seen as a tool to evade sanctions, it helps with law enforcement tracking. According to reports, the US government may pressure Iran by restricting access to the banking system for cryptocurrency exchanges.

BitMEX co-founder Arthur Hayes posted on the X platform that HYPE's price target is $150 and he expects it to soon reach a historic high.