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Crypto News

Bitcoin(BTC) Drops Below $113,000 with a 2.6% Decrease in 24 Hours

Bitcoin has dropped below $113,000 and is now trading at $112,677, with a narrowed 2.6% decrease in 24 hours.

Ethereum(ETH) Drops to $4,100 with a 6.4% Decrease in 24 Hours

Ethereum has dropped to $4,100 and is now trading at $4,195, with a narrowed 6.4% decrease in 24 hours.

Ether-holding company shares fell in overnight trading. BTCS Inc. fell 9%; BitMine Immersion Technologies Inc., SharpLink Gaming fell 7%; Upexi, Inc. fell 6%; Bit Digital, Inc. fell 4%.

Faraday Future to Invest $30 Million in Qualigen Therapeutics

Faraday Future Intelligent Electric Inc., an EV manufacturer with a market capitalization of $261 million, announced plans to make a strategic investment of approximately $30 million in Qualigen Therapeutics, Inc., according to a press release statement issued Sunday.

The investment would give Faraday Future about 55% of QLGN’s common stock on a pro forma basis. Additionally, FF Founder and Co-CEO YT Jia will invest approximately $4 million through an FFGP loan, acquiring roughly 7% of QLGN with a two-year share lockup commitment.

Ethereum Spot ETF Sees Significant Inflows in Mid-September

According to PANews, from September 15 to 19, Ethereum spot ETFs experienced a net inflow of $557 million. During this period, BlackRock's ETHA saw a net inflow of $513 million, bringing its historical total net inflow to $13.4 billion. Grayscale's ETH recorded a net inflow of $17.99 million, with a historical total net inflow of $1.44 billion. On the other hand, VanEck's ETHV experienced a net outflow of $8.16 million, although its historical total net inflow stands at $189 million. Currently, the total net asset value of Ethereum spot ETFs is $29.64 billion, representing 5.51% of Ethereum's total market capitalization, with cumulative net inflows reaching $13.92 billion.

Metaplanet Increases Bitcoin Holdings to 25,555 BTC

Japanese publicly traded company Metaplanet has increased its Bitcoin holdings by acquiring an additional 5,419 BTC. This acquisition brings the company's total Bitcoin holdings to 25,555 BTC.

Michael Saylor's Bitcoin Tracker Update Sparks Anticipation for Strategy's Disclosure

Michael Saylor has once again shared Bitcoin Tracker information on the X platform. Historically, Strategy company tends to reveal Bitcoin acquisition data the day following Saylor's updates. This pattern has led to expectations that new information regarding Bitcoin holdings may be disclosed soon.

Crypto Custody Firm BitGo Files for IPO as Industry Stays Active

BitGo Holdings Inc. has filed for an initial public offering in the US, adding to an active market for digital assets.

The crypto custody firm had net income of $12.6 million on revenue of $4.19 billion for the first six months of the year, compared with net income of $30.9 million on revenue of $1.12 billion a year earlier, according to its filing Friday with the US Securities and Exchange Commission.

The company joins a number of crypto firms that have rushed to the public markets after US President Donald Trump embraced the industry. The number of shares to be offered as well as the price range for the company’s proposed IPO have not yet been determined, according to the filing.

Bitcoin Spot ETF Flow

The overall net inflow of the US Bitcoin spot ETF last Friday was $222.62 million. The total net asset value of Bitcoin spot ETFs is $152.31 billion, and the ETF net asset ratio (market value compared to the total Bitcoin market value) is 6.63%.

The Bitcoin spot ETF with the highest net inflow on Sep. 19 was iShares Bitcoin Trust ETF, with a net inflow of $246.11 million, according to SoSoValue.