BitMEX: "1011" Flash Crash Forces Market Makers to Hold Large Amounts of Cryptocurrency, Liquidity Hits Lowest Level Since 2022
January 8, 2025 — Per CoinDesk, cryptocurrency exchange BitMEX noted in its latest report that the “1011” flash crash’s ripple effect hit market makers, forcing them to hold significant amounts of cryptocurrency. The crash triggered roughly $20 billion in cascading liquidations, undermining market makers’ neutral strategies and pushing market liquidity to its lowest level since 2022.
BitMEX added that when the Auto-Deleveraging (ADL) mechanism activates and market makers’ hedging short positions are forcibly liquidated, these firms are left holding unhedged spot positions amid rapid market declines. This broke the “neutral strategy” promise of perpetual contracts, prompting market makers to pull liquidity globally in Q4 2025 — pushing order book liquidity to its lowest level since 2022.
As a flood of imitators entered the space, Delta-neutral “easy yield” strategies (relying on funding rate arbitrage) have shrunk sharply, with annualized returns falling below 4%. Meanwhile, B-boo
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Binance Alpha is open for the second round of Bless (BLESS) airdrop claims, with a point threshold of 251 points
On January 8, Binance Alpha launched the second round of its Bless (BLESS) airdrop for claiming.
Users with at least 251 Alpha points can claim 2,500 BLESS tokens on a first-come, first-served basis.
If the reward pool isn’t fully distributed, the points threshold will automatically drop by 5 points every 5 minutes.
Note: Claiming the airdrop will consume 15 Alpha points.
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Sotheby's: Cryptocurrency's Impact on Luxury Home Spending Grows as Regulation May Allow Crypto Assets in Mortgage Collateral
On January 8, Sotheby’s International Realty—the luxury real estate arm of auction house giant Sotheby’s—released a report outlining the evolving state of the global luxury real estate market and the key economic policies and factors shaping it. The report notes that cryptocurrency’s impact on luxury home purchases is growing, particularly in markets like Dubai, New York, and California. Regulatory tweaks could allow cryptocurrency assets to be considered for mortgage eligibility.
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「BTC OG Insider Whale」 Long Position Goes from Profit to Loss, Currently Facing a Floating Loss of Approximately $5.27 Million
On January 8, monitoring data from HyperInsight (via its Telegram channel at https://t.me/HyperInsight) shows that the long positions held by "BTC OG Whale Insider" have flipped from profitable to unprofitable.
The total position size is approximately $796 million, with an unrealized loss of around $5.27 million as of now. The breakdown is as follows:
- 203,340 ETH long positions: Unrealized loss of $6.14 million
- 1,000 BTC long positions: Unrealized loss of $1.36 million
- 511,612.85 SOL long positions: Unrealized gain of $2.23 million
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21Shares will distribute staking rewards to its Ethereum ETF holders, with each share receiving $0.010378.
On Jan. 8, 21Shares announced via Globenewswire that it will distribute income from ETH staking to holders of its Ethereum exchange-traded product (ETP), the 21Shares Ethereum ETF (ticker: TETH).
Under the plan, TETH shareholders will receive $0.010378 per share, with the payout scheduled for Jan. 9, 2026.
### Notes on U.S. language/formatting adjustments:
1. **Date abbreviation**: Used "Jan. 8" (standard U.S. press shorthand, not full "January 8th").
2. **Concision**: Replaced "according to Globenewswire" with "via Globenewswire" (more direct for news briefs).
3. **Term clarity**: Added "ticker: TETH" (U.S. financial content typically labels ETF symbols explicitly).
4. **Flow**: Split long sentences into two concise paragraphs (common in U.S. news alerts).
5. **Vocab**: Used "payout" (casual, widely understood synonym for "distribution" in U.S. finance context).
6. **Consistency**: Capitalized "21Shares" (brand name standardization) and clarified "ETP" (exchange-traded
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