Public Keys: Circle Goes Quiet, Miners Dump Bitcoin, and Semler Gets Bailed Out

Public Keys is a weekly roundup of Decrypt That follows the most important listed crypto companies. This week: Reading tea leaves during Circle and Etoro Silent periods, Bitcoin -My workers selling a lot of from Bitcoin and Semler Scientific that offers effects to raise cash to buy Bitcoin to obtain a loan to pay the doj.

It’s oh so quiet

There was a shock of excitement this week when USDC Stablecoin Emizer Circle told Decrypt The company is in a mandatory quiet period because they have submitted their S-1 at the start of the month.

Initially it sounded like a subtle nod that the company would move forward with plans to go to public, even while rumors are swallowing that other newly announced technical listed IPOs are being put aside. The most frequently mentioned reason is the continuous trade war of President Donald Trump and the uncertain future for rates.

But then Decrypt reached to the trading platform Etoro, which also has his paperwork submitted To become public, the company had a similar answer: “We are still in a quiet period and therefore cannot comment on a potential IPO,” said a spokesperson.

Even if there are non -aforementioned sources Bloomberg or The Wall Street Journal are right that technology companies have second thoughts, the silent period does not disappear alone. Only an official withdrawal, submitted to the SEC, can do that.

Mine the bitcoin, sell the bitcoin

It has been another week of non-so-called news for Bitcoin Miners, this time interrupted by companies that sell their BTC.

Data company Cryptoquant said in a Tuesday report that Miners sustained their sale last week as the price of the largest cryptocurrency dropped below $ 80,000.

The company said that on 7 April miners sold a total of 15,000 BTC-de on two second biggest daily outflow this year. That is worth at least $ 1.12 billion, based on the low price of the day of less than $ 75,000.

Now it is not unusual for a Bitcoin -Mijnbureau to sell part of its BTC. But when the rate with which Mijnbedrijven sells shows a sharp increase, this is a sign of problems.

In June 2024, miners liquidated $ 200 million in reserves, because the price of Bitcoin fluctuated around $ 66,000. This newest round makes that pretty minor.

Semler’s Doj arrangement plan

Bitcoin Treasury Company and Medical Tech Startup Semler Scientific, which acts on the Nasdaq under the SMLR Ticker, announced in a Sec That it has guaranteed a loan from Coinbase credit to pay what it hopes will be a settlement with the Ministry of Justice.

“If Semler SCI is able to reach a settlement with DOJ,” the company wrote, “Semler SCI is planning to borrow under the Coinbase Master Loan Agreement and use yields (together with his cash) to pay for the proposed settlement with Doj.”

The company was set under fire for claims of possible violations of a federal anti-fraud against the marketing of Quantaflo, the flagship product.

It is not unusual to have a master loan agreement with Coinbase Credit. But it becomes a bit cloudy when you consider that Semler has just announced that it does a effect of $ 500 million to raise cash to buy more Bitcoin – some of which will use as collateral to secure its Coinbase loan.

Bitcoin Miners Hut 8 has a Coinbase line of credit for “General business purposes‘And Cipher -Mybouw has since had a credit line of $ 10 million last year. Another Bitcoin mini worker, CleanSpark, simply raised his credit line with Coinbase $ 200 million And dumped his HODL strategy and said it would start with “the use of part of the monthly Bitcoin production to support operational expenses and repayment of the credit.”

Coinbase credit also appears in many Bitcoin and Ethereum ETF archives. But wait – Enter your pitchforks. Are not Because the BTC and ETH support of those ETF shares is explained.

The money, like Ishares Bitcoin TrustUse Coinbase as a liquidity provider in the short term to pay sponsor costs and cover transaction costs without immediately liquidating crypto assets.

Spoken about coinbase

The crypto exchange, which is traded on the Nasdaq under the ticker of the currency, is again the subject of a lawsuit of a constitutional regulator.

Oregon supervisors submitted their complaints on Friday and accused the crypto exchange of violating the state law by stimulating and promoting the sale of cryptocurrencies as non -registered effects. Earning “millions of dollars in reimbursements because oregonians were dealing with enormous losses,” said the state -general general of the state in a statement.

Coinbase Chief Legal Officer Paul Grewal was not too satisfied, after he had celebrated the resignation of the SEC shop against the company in February very recently.

“The US showed that it was ready to run the page on that dark, misled chapter of the unlawful focus on industry,” wrote Grewal. “But the attorney general of Oregon refuses to face that reality and tries to wage the same war again.”

Other Keys

• Fake -token, real pain. No, there is no official token for basic, the Coinbase incubated Ethereum L2. But wow, our participation in everyone who got stretching thought there was one.