Bitcoin24h $81,658.83+0.20%

Ethereum24h $2,410.68-0.78%

BNB24h $720.70-0.03%

XRP24h $1.30-0.77%

Solana24h $103.63-1.09%

TRON24h $0.3331-0.57%

Hyperliquid24h $78.73-1.31%

Zcash24h $1,138.73-2.10%

Dogecoin24h $0.0792-1.57%

Monero24h $582.12+4.13%

BitMine lost $8 billion on ETH but Tom Lee still made tens of millions

BitMine’s losses on its ETH bet might exceed losses at FTX, but Tom Lee will make tens of millions of dollars regardless.

Tom Lee’s ETH losses at Bitmine exceed FTX customer losses

Bitmine Immersion Technologies Chairman Tom Lee has lost more of his investors’ money buying ETH than FTX lost on behalf of its customers.

NFT artist Beeple is critiquing the collapse of Ethereum with a grim pigeon-infested depiction of this year’s ETH Denver conference.

Peter Thiel and Founders Fund lost tens of millions of dollars investing in ETHZilla, a struggling ETH treasury company.

BitMine’s ETH holdings surpassed an unrealized loss of over $8B today despite spending $16B on the cryptocurrency.