Coinbase CEO Responds to COIN Dumping: It's not possible to have 99.999% of your assets in one stock forever, bulk of net worth still in Coinbase stock
Jan. 7 — Coinbase CEO Brian Armstrong addressed X users’ questions about his ongoing COIN stock sales in a post on the platform.
“I’ve been selling, but I’ve been with Coinbase for 13 years now,” he said. “Wouldn’t it be crazy to keep 99.999% of my net worth in a single stock? This was a deliberate choice. That said, most of my net worth is still in COIN, and I’m bullish on the future. I’ve also used a portion of the proceeds to help launch additional companies.”
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Bitwise Advisor Analyzes J.P. Morgan Launch of Bitcoin ETF: Bullish for Bitcoin, Significant Unmet Market Demand
**January 7**
Bitwise advisor Jeff Park highlighted an overlooked point in a social media post: Morgan Stanley’s Bitcoin ETF launch is an "epic bullish signal" for Bitcoin, with three key drivers:
1. **Unmet demand = early-stage growth**: Even as IBIT (the first spot Bitcoin ETF) became the fastest ETF ever to hit $80 billion in AUM, Morgan Stanley sees significant unmet real demand—signaling the market is still in its early days, especially for attracting new clients.
2. **Economic + social client value**: The firm bets Bitcoin isn’t just economically meaningful to clients, but socially important. Even if the ETF doesn’t become a "phenomenal hit," the intangible brand lift will boost its influence.
3. **Defensive move against decentralization/fee leakage**: With IBIT already aggregating liquidity at scale, Morgan Stanley’s launch acknowledges a critical truth: controlling distribution channels, not product superiority, is what truly owns the customer.
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「Buddy」 Partially Closes ETH Long Position, Account Total PnL $1.57M
Jan. 7 — Per data from HyperInsight, the wallet address linked to "Brother Maji" (Huang Licheng) closed one ETH long position today.
As of now, the address holds:
- 8,600 ETH long positions (25x leverage), valued at ~$28.15M, with an unrealized gain of $1.135M;
- 250,000 HYPE long positions (10x leverage), valued at ~$6.93M, with an unrealized gain of $442K.
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Top Whale Watch: "BTC OG Insider Whale" Sees $27M Paper Profit, "Strategy Bear Whale" Adds $18M to ETH Short Position
**January 7th Update**
Per the Coinbob Popular Address Monitor, market recovery has boosted the "BTC OG Insider Whale’s" unrealized profits to $27 million. Meanwhile, the "Strategy Counterparty" has expanded its ETH short position to $79.5 million. Most whales held positions steady or made minor adjustments; key details below:
### BTC OG Insider Whale
Total unrealized profits hit $27.06 million. Its core holding is an ETH long position (16% profit) worth ~$660 million at an average entry of $3,147 (unrealized gain: $21.33 million). It also holds profitable BTC and SOL long positions. Total account holdings sit at ~$825 million, making it the top ETH, BTC, and SOL long holder on Hyperliquid.
### CZ Counterparty
Current ETH long position has $3.5 million in unrealized profits (~$185 million holding, avg $3,190). It also holds an XRP long position (~$87.95 million) with $1.05 million in unrealized losses. It’s the largest XRP long holder and second-largest ETH long holder on Hyp
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Coinbase Bitcoin Premium Index returns to negative premium, currently at -0.0277%
On January 7th, Coinglass data shows the Coinbase Bitcoin Premium Index has flipped negative again, now at -0.0277%. Yesterday, the index switched from a discount to a premium after 22 days, hitting 0.011%.
BlockBeats Note: The Coinbase Bitcoin Premium Index measures the gap between Bitcoin’s price on Coinbase (a leading U.S. exchange) and the global market average. It’s a key gauge of U.S. market capital flows, institutional investment interest, and shifts in market sentiment.
A positive premium means Coinbase’s Bitcoin price trades above the global average, typically signaling: strong U.S. buying pressure, active entry by institutions or compliant funds, ample USD liquidity, and broadly optimistic investor sentiment. A negative premium (discount) means Coinbase’s price trades below the global average, usually reflecting: heavy U.S. selling pressure, reduced investor risk appetite, higher market risk aversion, or capital outflows.
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