How the Chinese cryptoqueen's $6.5B Bitcoin empire unraveled

Published at 2025-11-12 19:49:34

Sources and court filings outline a rapid accumulation of Bitcoin through opaque OTC deals, lending relationships and offshore entities, followed by a series of defaults, asset freezes and alleged mismanagement that left a roughly $6.5 billion position exposed. That unwinding reportedly produced noticeable sell pressure and heightened volatility in BTC trading during the fallout, testing liquidity across exchanges and OTC desks.

The episode underscores persistent counterparty and custody risks in crypto markets and has already prompted fresh scrutiny from regulators and creditors seeking asset recoveries. Traders and platforms will be watching court developments and asset-tracing efforts closely; the broader lesson is that concentration and opacity can transmit localized failures into wider price and trust shocks for Bitcoin markets.

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Coinbase said it is collaborating with leading U.S. banks on stablecoin projects and pilot crypto services, with CEO Brian Armstrong noting banks are "leaning into this as an opportunity." The move reflects a growing, if cautious, Wall Street interest in crypto infrastructure.

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Dogecoin Activity Surges 10,187%, Ending Five-Day Slide

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Published at 2025-12-03 15:30:31

Japan's 20% Crypto Tax Could Ignite Retail Investor Rally

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