PANews March 5 News, according to Arkham monitoring, the previously unrealized loss of $20 million by crypto KOL “Bonk Guy” has been announced to transfer all his USELASS holdings to a centralized exchange. Meanwhile, he took a 2x leveraged long position on USELASS worth $230,600 on the Lighter platform, with an initial market value of about $43.4 million. Currently, this trade has a floating profit of $16,000. Arkham joked, should we now call him “USELESS Guy”?
Additionally, according to Bonk Guy’s post, he stated that his reasons for transferring include: publicly holding positions unrelated to the project’s success or failure, as the market has proven his holdings have no real impact on the price; publicly holding assets is more harmful than beneficial to himself and the project, and to avoid being focused on if tokens rise back to high levels in the future; storing eight-figure assets in a TG bot wallet poses security risks, as hacker intrusions could cause bigger problems. He emphasized that transferring tokens is unrelated to the price and that he will still hold USELESS tokens until reaching or exceeding historical highs.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Saylor backtracks, may sell BTC to pay dividends: Strategy’s Q1 loss is $12.5 billion
Strategy (formerly MicroStrategy, Nasdaq: MSTR) announced its 2026 Q1 financial results on May 5—driven by BTC’s price dropping to $62k at one point in February. The company recognized $14.46 billion in unrealized impairment; Q1 recorded a net loss of $12.54 billion. CEO Michael Saylor made his first hint during the earnings call: he may sell some BTC to fund a special-stock dividend. CoinDesk reported, citing Saylor’s exact words: “We will probably sell some bitcoin to pay a dividend just to i
ChainNewsAbmedia7h ago
XRP ETFs Record $81.59M Inflows in April as Institutional Demand Accelerates
According to market analyst Crypto Patel, XRP ETFs recorded $81.59 million in net inflows during April 2026, with 57.96 million XRP units traded across products. The figure marked XRP's strongest monthly ETF inflow since December 2025. Across the broader US crypto ETF market, total net inflows
GateNews8h ago
CleanSpark Sells 748 BTC in April, Holdings Drop to 13,453
According to CleanSpark's unaudited April operational data released on May 6, the bitcoin miner sold 748 BTC during the month, reducing its total holdings to 13,453 BTC. The company mined 640 BTC in April but divested more than it
GateNews9h ago
Bitcoin Spot ETFs Record $1.6B Net Inflows Over 4 Consecutive Days
According to SoSoValue, U.S. spot Bitcoin ETFs recorded net inflows of approximately $1.644 billion over the past four days through May 6. BlackRock's iShares Bitcoin Trust (IBIT) led with roughly $890 million in inflows, bringing its Bitcoin holdings to over 818,146 BTC, valued at $65.47 billion. F
GateNews10h ago
Bitcoin Spot ETFs Record $1.6B Inflows Over 4 Days
## Spot Bitcoin ETFs Attract $1.6 Billion in Four Days
United States spot Bitcoin (BTC) exchange-traded funds (ETFs) have recorded a net cash inflow of approximately $1.644 billion over four consecutive days through May 5, according to data from SoSoValue. The inflows have increased total Bitcoin h
CryptoFrontier10h ago
