Top Stories of The Week
Metaplanet CEO rejects claims it hid details of BTC trades
Metaplanet CEO Simon Gerovich pushed back against accusations that the company misled investors about its Bitcoin strategy and disclosures.
Critics on X have argued that Metaplanet delayed or withheld price‑sensitive information about large Bitcoin purchases and options trades funded with shareholder capital, obscured losses from its derivatives strategy and failed to fully disclose key terms of its BTC‑backed borrowings.
In a detailed X post on Friday, Gerovich argued that Metaplanet promptly reported all Bitcoin purchases, option strategies and borrowings, and that critics were misreading its financial statements rather than uncovering misconduct.
Bitcoin ETFs shed $166 million in bad start to year
Selling pressure in US-listed spot Bitcoin ETFs continued Thursday, with analysts noting the cryptocurrency is on track for one of its worst yearly starts.
Spot Bitcoin ETFs saw $165.8 million in outflows Thursday, bringing weekly losses to $403.9 million, according to SoSoValue data.
The redemptions moved the funds closer to a possible five-week outflow streak, with year-to-date losses totaling $2.7 billion.
Trading activity continued to shrink, falling 21% over the week and reaching its lowest levels since late December, signaling weakening investor activity.
White House floats limited stablecoin rewards
The US White House has held another meeting between representatives from the cryptocurrency and banking industries on a market structure bill under consideration in the US Senate, seeking to iron out differences on stablecoin yield provisions, among other issues.
In a Thursday Fox News interview, Ripple CEO Brad Garlinghouse said that the company’s chief legal officer, Stuart Alderoty, attended the meeting with White House officials earlier in the day.
The White House reportedly refocused talks between crypto and bank lobbyists on limiting how stablecoin rewards should be paid.
It was the third meeting in 16 days to discuss stablecoin provisions that have stalled the crypto bill.
No agreement was reached on Thursday, but executives at…
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