MANTRA founder will burn $82 million worth of his OM tokens

It's Monday! Some markets around the world are still closed for the Easter holiday, but that hasn't stopped two high-profile firms from gobbling up more bitcoin.

Economy

* Some markets around the world are still closed for the Easter holiday, but that hasn't stopped two high-profile firms from gobbling up more bitcoin.

* Meanwhile, Japanese investment firm Metaplanet purchased 330 bitcoin for $28.2 million to bring its total holdings to 4,855 BTC.

* The moves come as bitcoin prices hover around the $68,000 mark.

Decrypt

* MANTRA founder and CEO John Patrick Mullin announced plans to burn his 150 million OM tokens to restore trust and reaffirm his commitment to the project.

* The move would see him burn his tokens in batches over the next six months, with the first set of tokens set to be burned in May.

* Mullin's tokens are valued at about $82 million at current prices.

Company

* Michael Saylor's company, Strategy, bought 6,556 more bitcoin for about $555 million at an average price of $84,785 each between April 14 and April 20.

* The company's bitcoin holdings now total 152,801 BTC for a purchase price of $7.3 billion and a current market value of over $10.4 billion.

* Strategy's bitcoin purchases come as the cryptocurrency has been trading in a narrow range in recent weeks.

Top 3 DeFi protocols by TVL

The move comes as the macroeconomic environment remains uncertain and the Federal Reserve is expected to continue raising interest rates this year.

Crypto

* Bybit CEO Ben Zhou said nearly 28% of the $1.4 billion stolen in a February hack has become untraceable, up from 23% in early March.

* The crypto exchange executive added that the recovery efforts are ongoing and the exchange is working closely with the relevant authorities to bring the perpetrators to justice.

* Earlier this year, hackers stole $1.4 billion worth of crypto in one of the largest-ever DeFi hacks.

The Bank of Korea announced its active involvement in shaping stablecoin regulations to manage potential threats to monetary policy and financial stability.

* The central bank is currently studying the potential impact of stablecoins on the Korean economy and will participate in discussions with other government agencies to coordinate effective regulations for stablecoins.

* The move comes as stablecoins have become increasingly popular in recent years, with Tether's USDT and Circle's USDC emerging as the leading stablecoins by market capitalization.

DeFi

* GSR led a $100 million private investment into consumer goods firm Upexi to help it build a solana-based treasury, accumulate SOL and stake its holdings.

* The investment will provide Upexi with the resources to develop a comprehensive solana treasury that aligns with its long-term goals and market conditions.

* Upexi is aiming to become a major consumer product company in Japan and southeast Asia.

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