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Mark Cuban Says Bitcoin Failed as a Hedge | CoinDesk Daily
- Mark Cuban sold most of his Bitcoin holdings, citing loss of confidence in Bitcoin as a hedge asset. He pointed to Bitcoin's failure to rise during recent geopolitical events (Iran conflict) and periods of dollar weakness as evidence it doesn't function as advertised.
- Trump Media transferred another 2,650 BTC to Crypto.com, deepening the company's Bitcoin position losses to approximately $455 million in unrealized losses.
- Trump Media withdrew its spot Bitcoin ETF application and reported a $406 million net loss in Q1 on minimal revenue of $871,000, signaling operational strain.
- Intercontinental Exchange (ICE) and OKEx partnered to launch perpetual oil futures contracts on OKEx's platform, marking the first time a regulated traditional finance exchange has backed data for a crypto-native derivatives product.