By Shikha Singh
HK Asia Board Approves Bitcoin Investment, Acquires 7.88 BTC for $761,705.
HK Asia Holdings Limited has expanded its Bitcoin holdings, purchasing approximately 7.88 BTC for $761,705 on Feb. 20.
The latest acquisition, approved by the company’s board, brings the Hong Kong-based investment firm’s total Bitcoin assets to roughly 8.88 BTC, valued at an average cost of $97,021 per coin, totaling around $861,500.
Shares in HK Asia were up by around 5.7% on Feb. 24 as of the lunch break on the Hong Kong Stock Exchange and were trading at around 6.66 Hong Kong dollars, according to Google Finance.
Raydium’s RAY Dives 25% as Pump.Fun Appears to Test Own AMM Exchange.
Pump is a token issuance platform based in Solana.Fun may soon be launching its own automated market maker (AMM), according to a URL connected to the site. However, there has been no public announcement yet.
Pump.Fun’s own AMM would mean tokens are no longer migrated to Raydium, or at least that’s what the market thinks, dampening sentiment for the latter’s RAY tokens. RAY is down 25% in the past 24 hours because of the apparent development.
Bybit Closes ‘ETH Gap’ as Exchange Replenishes $1.4bn Hole After Hack.
Bybit has returned to a 1:1 backing of client assets and has fully closed the “ether gap” it faced after an unprecedented $1.4 billion hack hit the exchange late Friday.
The exchange has received 446,870 ether (ETH), worth $1.23 billion at current prices, through loans, large deposits, and ether purchases in the past two days, on-chain tracking service Lookonchain said in an X post on Monday.
Address activity indicates the purchase of over $400 million through over-the-counter trading, with an additional $300 million coming directly from exchanges. Nearly $300 million was sought as loans; the rest are from addresses apparently belonging to crypto funds.
WazirX Moves Funds Out of Bybit Post Hack, Offers No Explanation.
The Bybit hack on February 21, 2025, saw $1.5 billion wiped out, making it one of the biggest crypto hacks ever. While most exchanges rushed to reassure users that their funds are safe post-Bybit hack, WazirX had stayed completely silent. Moreover, they moved ₹606 crore out of Bybit just a day after the hack, without a word of explanation.
Months after the Rs 2000 crore hack in July 2024, WazirX had moved Rs 606 crore worth of remaining user funds to Bybit Exchange, which was unregistered with India’s FIU back then. It was only a few weeks ago that Bybit was registered with the FIU. Now, after the hack, WazirX has moved their funds from the Bybit exchange without having felt the need to offer any explanation to their users.
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