DeFI News by Thebittimes.Com

Tom Lee’s BitMine has become the second-biggest crypto treasury company globally after Michael Saylor’s Strategy after it added 373,110 Ethereum tokens to its reserves over the past week. That series of buys has pushed the company’s total ETH holdings to 1,523,373 tokens valued at $6.44 billion at current prices, according to data from StrategicETHReserve.  BitMine now holds 1.26% of the total ETH supply, and has more than double the amount of ETH on its balance sheets compared to its nearest rival, SharpLink Gaming.  Top 5 biggest ETH treasury companies (Source: StrategicETHReserve)  SharpLink Gaming holds 728.8K ETH valued at $3.08 billion, while the third-biggest ETH treasury company is The Ether Machine with as stockpile of 345.4K ETH valued at $1.46 billion. BitMine Now Only Behind Strategy In Crypto Holdings BitMine shared an update on its ETH holdings via an Aug. 18 X thread to say its ETH holdings gained $1.7 billion in value in just ...

MicroStrategy (MSTR) investors flagged a curiously timed bitcoin (BTC) withdrawal right before the company’s founder, Michael Saylor, announced a $531.9 million purchase this morning. They asked why the company seemingly created three brand new wallets and withdrew 7,382 BTC mere hours before announcing its acquisition of 4,980 BTC. The timing and the amounts seemed “too weird.” The data comes from Arkham, which compiles wallets and assets that might be under MicroStrategy’s control. However, none of the wallets or their movements are officially confirmed by any proof of reserves. To be clear, MicroStrategy does not officially disclose its wallets . Nevertheless, one observer speculated that the company’s dividend-yielding preferred stocks could provide a rational explanation for yesterday’s on-chain movements. Bitcoin Outflow from Saylor—$796M Transferred Before Monday Buy! Michael Saylor’s Strategy just sent out nearly $800M in $BTC to 3 new wallets on...