The Daily: Stream Finance external fund manager discloses $93 million loss, Sequans dumps nearly a third of its bitcoin holdings, and more
Crypto liquidations surpassed $1.3 billion as Bitcoin neared $100,000, while Stream Finance halted withdrawals after a $93M loss.Summary
The crypto market experienced over $1.3 billion in liquidations as Bitcoin dropped near $100,000, signaling a fragile market. In major news, DeFi protocol Stream Finance suspended all deposits and withdrawals after an external fund manager reported a $93 million loss, prompting an investigation and causing its xUSD stablecoin to depeg significantly. Meanwhile, Paris-based Sequans sold 970 BTC (nearly a third of its holdings) to repay $94.5 million in convertible debt, framing it as a strategic balance sheet move. Separately, Strategy filed to offer euro-denominated STRE shares to fund future bitcoin acquisitions. In other developments, the FTX estate withdrew its motion to restrict customer claims in jurisdictions like China and Russia, and Bernstein raised IREN's price target to $125 following a $9.7 billion AI cloud contract with Microsoft.
(Source：The Block)