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In the last 24 hours, the Cryptocurrency market has recorded liquidations exceeding $1.4 billion, according to data from Coinglass.
This phenomenon mainly impacted traders with long leveraged positions, who faced large losses after a sharp drop in the prices of Bitcoin and several altcoins.
Bitcoin fell to lows of $92,000 on Friday, representing a 13.4% drop from its all-time high reached just three days earlier. Altcoins also suffered significant declines: Ethereum fell 16%, while XRP and Dogecoin fell 18% and 26%, respectively.
In parallel, Wall Street reported record outflows of $680 million from spot Bitcoin ETFs on Thursday, the highest figure since the launch of these products in January.
Leadership change at Aptos Labs: Avery Ching takes over as CEO
Mo Shaikh, co-founder of Aptos Labs, has resigned from his position as CEO, indicating that he is looking to “start a new chapter” in his career. Avery Ching, also co-founder and until now CTO of the company, will take the lead as the new CEO.
Shaikh has been a key figure in the development of Aptos Labs since its founding in 2021. Under his leadership, the company launched its mainnet in October 2022 and raised $400 million in capital. In his farewell, he expressed full confidence in the team and Ching’s ability to lead the next stage of growth.
Aptos Labs, known for its Layer 1 blockchain designed to improve scalability, security and speed, uses the Move programming language, originally developed for Meta’s Diem project.
Copper Technologies abandons registration in the United Kingdom and bets on international expansion
London-based cryptocurrency custodian Copper Technologies Ltd. has withdrawn its application for registration with the United Kingdom’s Financial Conduct Authority (FCA), Bloomberg reported.
Under the direction of its new CEO, Amar Kuchinad, the company will focus its strategy on international markets such as Switzerland, Hong Kong and Abu Dhabi, where it already operates.
“Since joining, my priority has been to drive Copper’s global growth strategy,” said Kuchinad, who took over the leadership following the departure of Dmitry Tokarev as CEO in October.
Copper is also evaluating expanding to the United States, favored by a friendlier environment after the electoral victory of Donald Trump, who is known for his support of the crypto sector.
BPCE’s Hexarq gets green light to operate in French crypto market
The Autorité des Marchés Financiers (AMF) of France has authorized Hexarq, a subsidiary of BPCE bank, as a crypto asset service provider (CASP). This permission allows you to offer services such as custody, purchase, sale and trading of digital assets.
Launched in 2021, Hexarq is focused on cryptocurrencies and tokenized real-world assets (RWA). The platform will integrate its services into the Banque Populaire and Caisse d’Épargne networks, with full deployment planned for 2025.
The entry of BPCE, one of the 10 largest banks in Europe, into the crypto sector is a strategic move. With a base of 35 million clients and assets under management of 1.3 billion euros, the authorization positions France as a leader in regulating the crypto market in Europe.
With this announcement, Hexarq becomes the fourth company to receive CASP certification from the AMF.
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