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Mega 312,233 SOL Deposit Worth $75 Million Crashes Into Coinbase
Crypto Trends

Mega 312,233 SOL Deposit Worth $75 Million Crashes Into Coinbase

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A whale-sized move has just hit Solana (SOL), once again shifting attention back to order books. A total of 312,233 SOL, worth $75,156,559 at the spot price, was transferred to Coinbase Institutional, making it one of the largest individual Solana transactions of recent days and instantly triggering speculation across trading desks.

Whale Alert sounded the first alarm and Arkham confirmed the path: The funds were routed from a Coinbase Prime deposit to a Coinbase Prime hot wallet, with FalconX infrastructure visible in the transaction trail two days earlier, reinforcing the institutional footprint.

At $238 per SOL, this transaction cannot be ignored. This inflow is equivalent to weeks of typical retail flow compressed into a single transaction.

SOL/USDT by TradingView

Against this background, the significance of the transaction is even clearer: Solana has been on an aggressive climb in September, rising from $190 at the end of last month to reach $257.91 at the upper Bollinger Band, before settling in the $238 zone where buyers and sellers are now locked.

The chart is boxed in: $226 is the level that must hold, while $258 is the breakout number that could change market positioning in a matter of hours.

Bottom line

What this transfer means depends on its purpose. If it’s for distribution, then the $75 million held on Coinbase could quickly impact the order books.

However, if it is internal reshuffling or liquidity routing, the chart will remain in play, and the question will be whether bulls have the strength to force a clean push through the $258 ceiling and turn resistance into support.



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Gaming Gear

Check Your Bank Accounts, You Might Spot a Deposit From a Facebook Lawsuit

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Read your email carefully this week: On Monday morning, I received an email from PayPal with the enticing subject line, “Your Facebook Consumer Privacy User Profile Litigation Settlement Payment.” And no, it wasn’t a scam. I opened it to find my PayPal account had been sent $37.55 as my share of Facebook’s $725 million privacy settlement. 

Don’t miss any of our unbiased tech content and lab-based reviews. Add CNET as a preferred Google source.

I was glad I spotted the email, because the money would’ve sat there in PayPal until I made a PayPal purchase. Instead, I chose to transfer it to my bank, where it’s expected to show up by Thursday.

That’s the good news. The bad news is that if you neglected to file a claim by the 2023 deadline, you’re out of luck.

This all stems from what might be the largest privacy settlement in US history: Facebook’s parent company, Meta, is paying $725 million to settle claims involving the sharing of user data with third-party companies.

Back in 2018, Facebook was accused of improperly disclosing users’ personal information. Cambridge Analytica, a UK political consulting firm with ties to Donald Trump’s 2016 presidential campaign, ended up with the data of as many as 87 million Facebook users. Meta denied any wrongdoing, saying in a 2023 statement that it agreed to the deal because “it’s in the best interest of our community and shareholders.”

A representative for Meta did not immediately respond to a request for comment.

The amount you receive depends on how long you had an active Facebook account.

Screenshot by Gael Fashingbauer Cooper/CNET

Payment amounts differ

The official website for the lawsuit has more information about settlement payments. It notes that settlement payments are being sent only to class members with approved claims. Distribution of the payments will continue over the next 10 weeks. If your claim is approved, a notification will be sent to your email a few days before your payment is issued.

If you are unsure of the status of your claim form and would like to check, you can send an email to the Settlement Administrator at info@facebookuserprivacysettlement.com, but you must include your Claim ID.

Some recipients will be paid via direct deposit, Venmo, Zelle, a mailed check or a virtual prepaid MasterCard, based on the method they chose when they filed their claim. I certainly didn’t remember which method I chose back then, but the PayPal email jogged my memory.

Your settlement amount might be slightly different from mine. The website says authorized claimants receive one point for each month in which they had an active Facebook account during the class period. The number of points helps determine the amount you’re paid.

According to CBS News, the average payment amount is $29.43, and the maximum payout is $38.36.



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Ethereum-Whale
GameFi Guides

Ethereum whale cashes out $8.97M profit after Kraken deposit

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Ethereum’s market is on edge as massive whale activity and sudden liquidations create chaos and uncertainty for traders. According to Onchain Lens, one whale deposited 2,074 ETH, worth about $8.97 million, into Kraken, making a profit of $6.07 million. This particular whale had gathered a total of 3,289 ETH between September 2021 and December 2024 for $6.43 million.

In another twist, Onchain Lens revealed that a whale with a hefty 15x ETH long position closed out with a $35.39 million loss. This whale continued with a pivot to a 25x leveraged Bitcoin short position, valued at $122.6 million.

Moreover, the Onchain tracker EmberCN had earlier reported an Ethereum whale, which had been quiet for a while moved 150,000 ETH to a staking address. According to EmberCN, three wallets from the ICO era transferred a total of $646 million in ETH, marking their first activity since February 2022.

These transactions are part of a larger trend of ICO whales making a comeback. Just last month, one whale sent $19 million in ETH to Kraken, while another moved 2,300 ETH to the exchange.

Traders Face Heavy Liquidations

Coinglass data shows Ethereum’s total open positions at $9.04 billion, with short positions slightly dominating at 52.86%, totaling $4.78 billion. Long positions make up 47.14%, valued at $4.26 billion.

Margins are still balanced, with a $1 billion total margin split between longs at $473.25 million and shorts at $527.97 million. Losses are severe, reaching $237.29 million, with short positions down $215.31 million and longs down $21.99 million.

Ethereum Sentiment on Exchanges, Source: Coinglass

Funding fees highlight demand for shorts. Long traders paid $39.46 million, while shorts earned $138.86 million, showing stronger pressure from bearish bets.

High Volatility Despite Bullish Ratios

Even with bearish positions, sentiment on exchanges is bullish. According to the platform data, ETH/USDT long-to-short ratio on Binance is at 2.48, and among the top traders, it climbs to 3.07. OKX is showing a similar level of optimism with a ratio of 2.3.

That said, over the last day, with $23.98 million coming from the long liquidations and $8.88 million from the shorts, approximately $32.86 million in liquidations were recorded amid high volatility. 

Most of these $20.59 million liquidations occurred within the span of approximately four hours, punishing the long traders the most.

Ethereum’s market is volatile at the moment. Big whale moves, heavy betting with leverage, and sudden liquidations are creating wild swings, bringing chances to profit but also big risks.

Also Read: ARK Invest Buys $16M BitMine and $7.5M Bullish Stocks





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VersaBank Kicks Off Tokenized Dollar Deposit Pilot Using Algorand, Ethereum and Stellar
Crypto Trends

VersaBank Kicks Off Tokenized Dollar Deposit Pilot Using Algorand, Ethereum and Stellar

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VersaBank, a Canadian digital bank with a focus on business clients, has started testing a tokenized deposit that the bank says provide a safer and more compliant alternative to stablecoins.

The pilot, run through the bank’s U.S. subsidiary VersaBank USA, will trial a U.S. dollar version of the bank’s blockchain-based Digital Deposit Receipts (DDRs) tech. Each token, branded USDVB, represents one U.S. dollar held on deposit at VersaBank USA.

The program will simulate thousands of transactions of small value, first internally and then with select external partners. Tokens will be managed through the bank’s digital vault and e-wallet platforms and issued on the Ethereum ETH$4,647.03, Algorand ALGO$0.2532 and Stellar XLM$0.3852 blockchains.

While stablecoins, crypto tokens with prices tied to fiat currencies like the U.S. dollar, have captured most of the attention, banks are also exploring tokenized deposits to make money transfers more efficient using blockchain rails. A stablecoin, like Circle’s USDC or Tether’s USDT, is typically issued by a private company and backs the tokens’ value with reserves held at a third-party custodian. Meanwhile, a tokenized deposit is a liability of a regulated bank and subject to banking rules.

Earlier this year, Custodia and Vantage Bank tokenized U.S. dollar demand deposits on Ethereum, while JPMorgan tested its deposit token on Coinbase’s layer-2 network Base.

Unlike most stablecoins, VersaBank said its tokens are federally insured and can earn interest, making them functionally similar to traditional deposits but with the added efficiency of blockchain-based settlement.

The bank said it expects to finish the pilot by the end of 2025 and will seek approval from the Office of the Comptroller of the Currency (OCC) before any public launch.

Read more: Stablecoins, Tokenization Put Pressure on Money Market Funds: Bank of America



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