otc

DeFi liquidity management layer Delta issued a statement clarifying recent community concerns regarding token sales. The team stated that an OTC transaction was conducted in the early stages of the project, allocating 2.6% of the supply, or 26 million DELTA tokens, to partners in exchange for operational funds and marketing support.Of these, 16.5 million tokens (1.65%) have been sold, while another 9.5 million tokens (0.95%) remain in two receiving wallets. The team acknowledged that no vesting period, lock-up period, or other restrictions were set for the tokens allocated to partners, nor could they control subsequent selling actions.The team stated that after communicating with partners and seeking solutions, both parties failed to reach a consensus. The team also provided detailed on-chain transaction records to demonstrate that the team itself did not directly sell the tokens.

According to Onchain Lens monitoring, Galaxy Digital OTC deposited 47,000 HYPE to OKX 4 hours ago, worth 4.06 million USD.

According to a post by Binance, the platform has begun to recover affected assets for users and continues to work with law enforcement, asset issuers, blockchain intelligence companies, and industry partners to track, freeze, and recover more funds.Binance stated that the company has set aside over $6.34 billion to cover the losses caused by this incident, of which $5 billion is held in tokens that are identical to the affected assets. The remaining portion is being purchased through market channels and over-the-counter (OTC) channels to match the types of tokens for the remaining affected assets and to fill the asset gap. Due to the low liquidity of some tokens and the time required for OTC settlements, the related purchases may take a long time. The aforementioned amount does not include assets that have been frozen or are protected, as these assets are still being recovered and verified.Currently, $3 billion in assets have been frozen, and Binance is working with partners and law enforcement to recover the related assets. Binance stated that it will continue to use company resources to cover the confirmed funding gap and will publish more verified information as the recovery work progresses. Ultimately, all user funds will be verified through publicly available reserve proof.

Unified Margin Trading Exchange Nado announced the launch of the on-chain OTC trading venue PRIME, scheduled to go live in the fourth quarter, aimed at connecting institutional market maker liquidity. Institutional liquidity providers will continuously quote and inject tiered liquidity into the dedicated PRIME liquidity pool, while the pricing engine aggregates the total depth from all connected market makers into a single executable streaming price, which is then pushed to traders after adjusting for real-time volatility and inventory. This price can be executed on demand without the need for a quote, with the interaction method closely resembling Nado's existing central limit order book.PRIME operates in parallel with the Nado order book, rather than replacing it. If the same market exists in both venues simultaneously, positions can be interchanged, allowing traders to open BTC perpetual contracts through PRIME and close them on the order book, or vice versa. Below the displayed price, smart order routing executes trades at the optimal prices from the connected market makers at that time; when a single market maker's depth is insufficient, the routing will prioritize merging liquidity from multiple providers based on price. Nado stated that the trading fee for transactions executed through PRIME is 0. The new market will first onboard market makers rather than accumulating orders on the order book.The first batch of participants includes Hyperliquid, Variational, Lighter, Extended, and leading traders from Nado, with more information to be announced in the coming weeks. Initially, PRIME will cover crypto assets and perpetual contracts with good liquidity, with the new market going live on PRIME first, and will open to the order book after sustained demand is validated. Future goals include exotic perpetuals, spot, and options. Nado offers spot, perpetual, and currency markets, using unified margin, developed and deployed by the Kraken-related team on the Ink network, which stated on October 26 that its historical cumulative trading volume has reached $10 billion.

Axis Robotics issued a statement regarding the massive sell-off of AXIS tokens from October 28 to 29, stating that no team or investor tokens were sold. The team, investors, and other locked allocations total 835 million AXIS, accounting for 83.5% of the total supply, and remain in a custody contract co-managed with Binance, with no tokens transferred out, and they will not be unlocked before the end of the 12-month lock-up period.The project party stated that the tokens sold this time came from a portion of the ecological allocation in the initial circulating supply, which was originally delivered through a single over-the-counter (OTC) trading counterparty, and the relevant written agreement includes lock-up terms. The project party believes that the trading model indicates that this counterparty may sell the tokens on the open market, which, if true, would violate the agreement. They have currently suspended further transactions with this counterparty and are reviewing the agreement with legal counsel to seek remedies; the remaining ecological tokens will only be distributed through on-chain custody mechanisms in the future.ChainCatcher previously reported that, according to on-chain detective ZachXBT, insiders from Axis Robotics (AXIS) obtained over 76 million AXIS tokens (worth over 12 million USD) from a multi-signature wallet, which were then sold off through a DEX, with some tokens transferred to Bitget exchange. As a result, the AXIS price plummeted by 40% in the past 24 hours.One insider sold 42 million AXIS tokens and currently holds over 5.04 million USDC across their 8 wallet addresses.

Sonic Labs officially stated that within the next 24 to 48 hours, approximately 13 million S tokens will be transferred according to a strategic over-the-counter trading agreement, with the counterparty being its long-term partner.Both parties will collaborate to expand the coverage and user engagement of the Sonic ecosystem within each other's networks. This advance disclosure aims to inform the community about the upcoming large on-chain transfer.

According to Onchain Lens monitoring, Galaxy Digital OTC clients transferred 134,000 LINK to Binance, worth 1.73 million USD, possibly for sale.

According to on-chain analyst Yu Jin's monitoring, a certain whale/institution conducted OTC trading through Galaxy Digital and sold the last 10,000 ETH 5 hours ago, completing their liquidation.This entity bought and sold 52,000 ETH within two and a half months, making a profit of 24.49 million dollars: from July to September, they accumulated 52,000 ETH at an average price of 2,161 dollars; since the end of September, they liquidated at an average price of 2,632 dollars.

According to the Financial Times, DWF Labs' DWF Maas and Falcon Digital have sued the cryptocurrency custody company BitGo in the High Court of London, accusing it of violating over-the-counter (OTC) agreements by selling Falcon Finance (FF) and ESPORTS tokens before the agreed lock-up period ended, resulting in a drop in token prices.According to the lawsuit, both parties agreed that the tokens would be offered at a discounted price but must adhere to a three-month lock-up period and subsequent phased unlocking arrangements. DWF claims that BitGo transferred the tokens to exchanges about two months before the first unlocking, causing market sell-off pressure and damaging the value of its remaining holdings, thus seeking $141 million in damages. BitGo declined to comment on the lawsuit, and the related allegations have not yet been adjudicated by the court.

Cryptocurrency analyst Darkfost stated that the Bitcoin reserves held by known over-the-counter (OTC) platform addresses have dropped to a historical low, currently around 123,000 BTC, down from nearly 500,000 BTC in September 2021.The continuous decline in OTC reserves may have several reasons, including investors' preference for holding BTC long-term, a more decentralized structure of Bitcoin holdings, and participants like miners no longer primarily selling BTC through OTC channels. Additionally, some holders may prefer to sell directly on the open market. Regardless of the specific reasons, the significant reduction in OTC reserves means that there is increasingly less BTC available for sale outside the open market. If buyer demand shifts more towards purchasing directly from the open market, it may provide support for BTC prices.

According to on-chain analyst Yu Jin's monitoring, Arthur Hayes (0x6cd...e21) purchased 244,000 UNI through Flowdesk OTC at a price of $7.06.

Cryptocurrency exchange platform Luno announced that it has received a Class F digital asset business license issued by the Bermuda Monetary Authority. This license provides Luno with a regulated base outside of its core emerging markets, placing it alongside globally recognized operators such as Coinbase, Circle, and Kraken.Luno stated that for B2B and institutional business, Bermuda can extend its crypto-as-a-service and global settlement products to clients outside of Africa and the Asia-Pacific region, establishing a base in a jurisdiction designed for digital assets and modern payments. The license allows for the provision of cryptocurrency, tokenized stocks and commodities, as well as over-the-counter trading of the rand-backed stablecoin ZAR Universal, which is issued by Luno's sister company BlockTowerTech and aimed at institutional use; the global spot market can access all tradable assets from Luno; and wallet infrastructure for secure custody and transfers.Luno claims that for 13 years, by prioritizing regulation and security, it has built trust with millions of customers, and Bermuda is the next step.

Axis announced the launch of Axis Prime, expanding its previously built fragmented market execution infrastructure for institutional allocators running market-neutral strategies to provide institutional liquidity and execution services for new banks, brokerages, remittance businesses, and digital asset platforms.Prime completes trade pricing, liquidity acquisition, execution and settlement management, as well as inventory and counterparty risk management through a single institutional relationship. This service supports over 15 currencies, stablecoins, and settlement channels, evaluating more than 25 million cross-asset pricing paths, with selected channels averaging a quoted spread of less than 10 basis points.Axis stated that Prime has completed its first OTC order for a large centralized cryptocurrency exchange. Capital entering Axis supports the balance sheet and trading infrastructure, while Prime utilizes this infrastructure to quote and execute external institutional capital flows, forming a dual-use model of capital formation and liquidity provision in parallel.

According to Onchain Lens monitoring, a whale transferred 772,470 LINK (approximately $8.91 million) to Galaxy Digital and Cumberland for sale. Among them, 602,000 LINK ($6.94 million) were transferred to Galaxy Digital, and 170,470 LINK ($1.97 million) were transferred to Cumberland.

According to the latest ranking data of stock derivatives exchanges released by RootData, the exchange with the largest 24h position decline among the top ten is XT.COM, with a position of approximately 959 million USD, a decrease of 11.52%; the largest price difference is Hotcoin, with a price difference of 0.107%.It is reported that this price difference is the weighted price difference based on the 24h transaction volume, and a higher value usually indicates higher trading costs.

According to Onchain Lens monitoring, a certain OG whale accumulated BTC when the price was around $10 to $15, and after being inactive for 10 months, transferred 50 BTC to a new address, worth approximately $3.22 million, possibly for OTC sale.This OG whale address cluster had previously shown a similar pattern, with funds subsequently flowing to FalconX or CEX.

According to monitoring by Lookonchain, a certain OTC whale has once again purchased 10,000 ETH today, worth 19.1 million USD; two weeks ago, it also bought 27,000 ETH, worth 52.03 million USD.

According to Onchain Lens monitoring, BitMEX founder Arthur Hayes (0x6cd...7e21) received 5 million USDC from Galaxy Digital OTC Desk.