Bithumb Airdrop Error Briefly Distorts BTC Prices
CW6 Bithumb mistakenly credited users with 2,000 BTC instead of 2,000 won, briefly pushing local BTC prices lower before accounts were restricted. ProShares launched KRYP, tracking the CoinDesk 20 Index. CME Group signaled plans to explore a proprietary token and tokenized collateral initiatives.
Bithumb wrong airdrop to users
Bithumb said users were mistakenly credited with 2,000 BTC instead of 2,000 won during a rewards event, creating large bitcoin balances that existed only in the exchange’s internal ledger.
Users attempted to sell the credited balances, pushing bitcoin on Bithumb as much as 15.8% below prices on other exchanges, with BTC briefly trading near 81 million won ($55,000).
The exchange said it restricted affected accounts within minutes, prices normalized quickly, and the incident was not related to a hack or security breach, with customer assets remaining secure.
ProShares introduces top 20 coin ETF
ProShares unveiled KRYP, the first ETF designed to track the CoinDesk 20 Index (https://indices.coindesk.com/coindesk20), providing exposure to 20 of the largest and most liquid cryptocurrencies.
The index is rules-based, capped and rebalanced quarterly to limit concentration risk.
CME Group eyeing own 'CME Coin'
CME Group CEO Terry Duffy indicated that the company is exploring launching its own token that could operate on a decentralized network.
The initiative is part of CME's weighing on tokenized collateral, and the firm is collaborating with Google on a “tokenized cash” solution set to launch later this year.
Duffy's comments are the first explicit mention of a proprietary CME-issued asset, as the firm prepares to introduce 24/7 trading for all crypto futures and new futures contracts for Cardano, Chainlink, and Stellar.
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