PANews reported on November 24th that, according to analyst MLM, an unknown entity used 54 different wallets to short a total of 1.6775 million HYPE tokens (worth $51.65 million) at an average price of $34.2087 over the past few days. Its closing price was only $34.6703, 12% higher than the current price (as of approximately 3:40 AM today). This entity also contributed to the 9% flash crash on November 9th. The entity used high leverage, with a total margin of $9 million in its wallets, and its short positions had realized unrealized profits (UPNL) of $5.34 million. About a month ago, this group of positions appeared to have transferred approximately $8,000 worth of Arbitrum USDC to Twitter user @rektober. The group is also linked to two Solana and Ethereum wallets named 'okwan'. They also appear to be associated with, or be the operators behind, a token called WOULD, which had a market capitalization of $700 million on Solana earlier this year.PANews reported on November 24th that, according to analyst MLM, an unknown entity used 54 different wallets to short a total of 1.6775 million HYPE tokens (worth $51.65 million) at an average price of $34.2087 over the past few days. Its closing price was only $34.6703, 12% higher than the current price (as of approximately 3:40 AM today). This entity also contributed to the 9% flash crash on November 9th. The entity used high leverage, with a total margin of $9 million in its wallets, and its short positions had realized unrealized profits (UPNL) of $5.34 million. About a month ago, this group of positions appeared to have transferred approximately $8,000 worth of Arbitrum USDC to Twitter user @rektober. The group is also linked to two Solana and Ethereum wallets named 'okwan'. They also appear to be associated with, or be the operators behind, a token called WOULD, which had a market capitalization of $700 million on Solana earlier this year.

                                                                               BitGo’s move creates further competition in a burgeoning European crypto market that is expected to generate $26 billion revenue this year, according to one estimate.                     BitGo, a digital asset infrastructure company with more than $100 billion in assets under custody, has received an extension of its license from Germany’s Federal Financial Supervisory Authority (BaFin), enabling it to offer crypto services to European investors. The company said its local subsidiary, BitGo Europe, can now provide custody, staking, transfer, and trading services. Institutional clients will also have access to an over-the-counter (OTC) trading desk and multiple liquidity venues.The extension builds on BitGo’s previous Markets-in-Crypto-Assets (MiCA) license, also issued by BaFIN, and adds trading to the existing custody, transfer and staking services. BitGo acquired its initial MiCA license in May 2025, which allowed it to offer certain services to traditional institutions and crypto native companies in the European Union.Read more