Wisconsin Joins Regulatory Battle Over Prediction Markets, Sues Platforms Such as Kalshi and Polymarket

April 24th: Per Hyperinsight monitoring (https://t.me/HyperInsight), a major BTC short seller address (0x004) recently active on Hyperliquid closed out a short position near its breakeven price in the past half hour. The address previously held a $15.58 million position (liquidation price: $77,936) and netted a small $60,000 profit. Subsequently, the address placed a limit sell order at $79,000—above current BTC prices—for 100 BTC (roughly $7.9 million), planning to reinitiate a short position if the price hits that level. Address: 0x004edcd40360e293e4cf260d2ebdf8c7076c1bb8

On April 24th, LookOnChain’s monitoring data indicates Tether minted 3 billion USDT on the Ethereum network last week. Separately, AbraXas Capital received 2.89 billion USDT from the Tether Treasury over the past seven days.

April 24 — Perpetual contract trading platform Pacifica (part of the Solana ecosystem, link: https://app.pacifica.fi/?referral=pacbot) has officially launched its spot market and unified margin system, per an official announcement. The first spot trading pair is SOL/USDC, making Pacifica the first Perp DEX to integrate spot collateral into a full-warehouse margin system. The unified margin system merges users’ USDC balances, perpetual contract P&L, and spot holdings into a single account. Traders can collateralize spot assets directly to open perpetual positions without pre-borrowing USDC. If an account falls into deficit, the system automatically triggers implicit borrowing to cover the gap. For traders, this mechanism natively supports basis trading: long spot positions and short perpetual positions of the same underlying asset can be net-settled in the same account, with the hedged portion eligible for a higher collateralization rate bonus.

April 24 — Per Cointelegraph, ARK Invest’s Q1 report reveals Bitcoin held by “HODLers” jumped 69% from 2.13 million BTC to 3.6 million BTC — the highest level since 2020, even as the crypto’s price dropped 22%.

On April 24th, per HyperInsight monitoring (via https://t.me/HyperInsight), the "Silver Ironhead Air Force" whale—after a failed morning attempt to open a long position—has again opened significant BTC and ETH long positions in the past half hour, nearly exhausting the account’s entire margin. Simultaneously, larger-scale buy orders have been placed below current prices, with plans to gradually increase holdings. Specific positions and orders are as follows: - **20x leveraged BTC position**: Size = $10 million, average entry price = $77,592; additional $20 million buy orders placed at $75,800 and $76,900. - **20x leveraged ETH position**: Size = $15.3 million, average entry price = $2,303; additional $20 million buy orders placed across the $2,180–$2,270 range. If all 200 lower buy orders are filled, the total size of the two long positions will reach $65 million. Meanwhile, the composite average price for BTC is expected to fall to ~$76,764, and for ETH to ~$2,258. Address:

On April 24, Coinglass data shows that as Bitcoin saw a slight decline and traded within a narrow range, current funding rates for major centralized (CEX) and decentralized (DEX) exchanges point to deepening bearish sentiment in the market. Specific funding rate details are available in the attached image. **BlockBeats Note**: Funding rates are fees set by crypto exchanges to align contract prices with underlying asset prices—typically applicable to perpetual contracts. This is a capital exchange mechanism between long and short traders; the trading platform does not collect this fee. It adjusts the cost or profit of traders holding contracts to ensure contract prices track underlying asset prices closely. **Funding Rate Reference**: - 0.01% = baseline rate - >0.01% = generally bullish market - <0.005% = generally bearish market