7
Apr, 2025
Metaplanet repays 2B yen bonds early, CEO comments on BTC ‘down days’
Altcoin News, Bitcoin News, Crypto Analytics, Crypto Industries & Currency Updates
Metaplanet, a Japanese hotel manager turned Bitcoin treasury company, has fully repaid 2 billion yen ($13.5 million) worth of bonds ahead of schedule as it seeks to shore up its financial position.
Metaplanet conducted an early redemption of its 9th Series of Ordinary Bonds on April 4, more than five months before the maturity date, the company disclosed on April 7.
The zero-interest bonds were issued in March through Metaplanet’s Evo Fund and used to acquire additional Bitcoin (BTC). Since the bonds carry zero interest, the repayment would not have a material impact on the company’s fiscal 2025 results, it said.
Source: Metaplanet
Metaplanet, which trades publicly on the Tokyo stock exchange, has made Bitcoin the center of its corporate strategy through a series of acquisitions. The company’s Bitcoin balance has swelled to 4,206 BTC, placing it among the top 10 publicly traded holders.
The acquisitions are part of a broader strategy disclosed in January that could see Metaplanet purchase up to 21,000 BTC by the end of 2026. At the time, the company said it planned to raise more than $700 million to help fund its Bitcoin buying spree.
Related: Metaplanet share price rises 4,800% as company stacks BTC
CEO comments on Bitcoin price action
Metaplanet has seemingly embraced Bitcoin’s volatility, having adopted a buy-the-dip mentality to acquire more of the digital asset.
Over the weekend, Metaplanet CEO Simon Gerovich called Bitcoin’s volatility “a natural part of an asset that is truly rare, diversified, and has long-term potential,” according to a translated version of his social media post.
Source: Simon Gerovich
Bitcoin’s price is under renewed pressure as part of a global sell-off in risk assets stemming from US President Donald Trump’s “Liberation Day” tariff announcement last week. The BTC price plunged below $80,000 on April 7, according to Cointelegraph Markets Pro.
Bitcoin’s performance mirrors broader declines in US stocks, with the benchmark S&P 500 Index losing $5 trillion over two trading sessions.
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Learn MoreMetaplanet repays 2B yen bonds early, CEO comments on BTC ‘down days’
7
Apr, 2025
Bitcoin Price Watch: Bearish Momentum Builds Across All Timeframes
Altcoin News, Bitcoin News, Crypto Industries & Currency Updates
Bitcoin is trading at $77,346 with a market capitalization of $1.53 trillion, as it battles persistent bearish momentum across multiple timeframes. Over the last 24 hours, bitcoin has traded between $74,604 and $82,859 on $75.43 billion in volume, suggesting volatility amid downward pressure. Bitcoin On the daily chart, bitcoin’s price action has shifted significantly downward, […] …
Learn MoreBitcoin Price Watch: Bearish Momentum Builds Across All Timeframes
7
Apr, 2025
ZKasino scammer loses $27M as Ethereum price drops
Altcoin News, Bitcoin News, Crypto Analytics, Crypto Industries & Currency Updates
A wallet linked to the $40 million ZKasino scam lost more than $27 million after a leveraged position was liquidated, marking what some in the crypto community are calling a dose of karmic justice.
ZKasino launched in April 2024, luring investor capital by promising an airdrop of its native token to users who bridged Ether (ETH) to the platform.
However, instead of returning the funds, ZKasino transferred around $33 million in user ETH to the staking protocol Lido Finance.
Nearly a year later, the wallet behind the alleged exploit has been liquidated for $27.1 million after ETH’s price declined sharply, according to blockchain analytics platform Onchain Lens.
Source: Onchain Lens
“A scammer gets a dose of karma,” Onchain Lens wrote in an April 7 X post, adding:
“The ZkCasino scammer, who scammed $40M+, closed its $ETH (20x) position on #Hyperliquid, faced a total loss of $27.1M.”
Following the liquidation, affected users appear no closer to recovering their funds.
Related: Trump’s Liberation Day: ‘Climax of uncertainty’ before crypto market recovery
The liquidation comes after a period of record-breaking sell-offs in traditional equity markets that led to a crypto market correction, which saw ETH’s price fall to a near two-year low of $1,480, last seen in May 2023.
Source: Lookonchain
Earlier on April 7, an unidentified crypto whale was forced to make a $14 million emergency deposit to avoid an over $340 million Ether liquidation.
Related: Smart money still hunting for memecoins despite end of ‘supercycle’
The ZKasino exit scam
After being accused of running an exit scam, ZKasino said it initiated a 72-hour process to return funds to investors a month after transferring the $30 million of user funds to Lido.
“We are now initiating the 2-step bridge back process in which bridgers can sign up and bridge back their ETH at a 1:1 ratio,” ZKasino said in a May 28, 2024, Medium post, adding that the team hasn’t given up on the project.
However, any investors wanting their ETH back will forfeit any allocated ZKAS tokens and the remaining 14 months of ZKAS releases, ZKasino said.
On April 29, 2024, Dutch authorities arrested one of the people suspected to be responsible for the “rug pull.” A few days later, all bridged ETH was returned to the ZKasino multisig wallet as Derivative Monke publicly denied the rug pull allegations on X.
However, ZKasino still hasn’t returned the ETH nearly a year after the incident.
“Unfortunately, everyone who sent the ZKAS back has not heard anything from them yet,” one user, who communicated on the condition that his identity not be revealed, told Cointelegraph in August 2024.
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Learn MoreZKasino scammer loses $27M as Ethereum price drops