Cointime

Download App
iOS & Android

Hedge Funds Burned by Yen Shorts as SVB Fear Lifts Haven Demand

Hedge funds held the biggest yen-bearish positions in six months last week, a painful trade as the collapse of Silicon Valley Bank suddenly boosted demand for Japan’s currency as a haven.  

Leveraged funds increased short positions on the yen to the most since September in the week through March 7, Commodity Futures Trading Commission data show. The Japanese currency rebounded from an almost three-month low reached on March 8, strengthening 3.5% in a little more than a week, as investors slashed bets on further Federal Reserve interest-rate hikes and concern about the health of the banking sector encouraged investors to hold safer assets. 

SVB
Comments

All Comments

Recommended for you

  • TeleportDAO has raised $9 million through CoinList public sale and financing

    The Bitcoin cross-chain infrastructure TeleportDAO has raised $9 million through CoinList public sale and financing, with participation from OIG Capital, DefinanceX, Oak Grove Ventures, Candaq Ventures, TON, Across, bitSmiley, and others.
  • Bitcoin spot ETF has net outflow for five consecutive days, with total net asset value of US$53.063 billion

    According to SoSoValue data, the total net outflow of Bitcoin spot ETF was 4.3876 million US dollars on April 18th (US Eastern Time).
  • Blast DEX Thruster receives $7.5 million in seed round funding

    The decentralized trading protocol Thruster based on Blast raised $7.5 million in seed funding led by Pantera Capital, bringing Thruster's valuation to $70 million. Angel investors include Santiago Santos, Frax founder Sam Kazemian, Pendle founder TN Lee, Stacked founder Alex Lin, Renzo founder Kratik Lodha, and Axelar founder Georgios Vlachos also participated in this round of funding.
  • Aark Raises $6M Funding to Accelerate LRT Liquidity Integration for High Leverage Trading

    Aark, a perpetual DEX focused on leveraging LRT assets to bolster liquidity for perpetual traders, has announced the successful completion of its Seed Round funding. The round attracted investment from leading industry pioneers, including HashKey Capital, Arrington Capital, Cypher Capital, Morningstar Ventures, IVC, and Metavest. With the new investment, Aark plans to grow its team to develop more scalable liquidity, targeting the substantial $10 billion TVL market and enabling unparalleled high-leverage trading of up to 1000x for long-tail assets. Aark's CEO, Eden, stated that the company aims to propel the on-chain derivatives industry to new heights and surpass centralized counterparts.
  • Hidden Road plans to raise $120 million at $1 billion valuation

    Cryptocurrency broker Hidden Road Partners is raising Series B equity financing, which will bring its valuation to around $1 billion, and this round of financing is expected to raise about $120 million. Founded by Marc Asch in 2018, this bulk broker has worked at hedge fund billionaire Steven Cohen's company SAC Capital and Point72 Asset Management. Hidden Road completed a $50 million financing round in 2022. Hidden Road provides primary brokerage services for a variety of markets, including foreign exchange, precious metals, and digital assets.
  • RWA protocol Centrifuge announces $15 million Series A funding

    RWA protocol Centrifuge announced the completion of a $15 million Series A financing round, led by ParaFi Capital and Greenfield, with participation from Circle Ventures, IOSG Ventures, Arrington Capital, Spartan Group, and Wintermute Ventures. Additionally, Centrifuge stated that it will establish a lending market called Centrifuge Pools on the Base network.
  • Yuanlong Yatu's subsidiary UOVAMETA completed a financing of tens of millions of dollars to further improve the layout of the AI ​​and Web3 industry chain

    Shanghai Wowo Universe Digital Technology Co., Ltd. (referred to as "Wowo Universe" or "UOVAMETA"), a subsidiary of Beijing Yuanlong Yatu Culture Communication Co., Ltd., has completed its first round of strategic financing worth tens of millions of yuan. Lehua Entertainment, Alibaba Pictures, and others participated in the investment, while the parent company Yuanlong Yatu also participated in the capital increase and share expansion. This financing will help UOVAMETA further improve its AI and Web3 industry chain layout, laying a solid foundation for the development and expansion of future platform products.
  • Account abstraction app Plena raises $5 million

    Plena, an abstract account application, has completed a $5 million financing round with participation from Big Brain Holdings, DeWhale, GBV, WebWise, Galxe, Normie Ventures, FounderHeads, and others. In addition, Plena has announced a collaboration with DAO Maker, Chain GPT, Decubate, AI Tech, and Viction Chain by Coin98 to launch the largest airdrop campaign, distributing 2% of its total supply before listing.
  • Account abstraction app Plena completes $5 million in financing, with Normie Ventures and others participating

    Plena, an account abstraction application, has announced the completion of a $5 million financing round with participation from Big Brain Holdings, DeWhale, GBV, WebWise, Galxe, Normie Ventures, FounderHeads and others. Plena also announced a collaboration with DAO Maker, Chain GPT, Decubate, AI Tech, and Viction Chain by Coin98 to conduct an airdrop activity, distributing 2% of its total supply before listing.
  • Homium Closes $10M Funding Round and Tokenizes Home Equity Loans on Avalanche

    Real estate equity mortgage loan institution and securitization platform Homium announced the completion of a $10 million Series A financing, led by Sorenson Impact Group and Avalanche Ecosystem Fund, and has launched the first home equity loan on Avalanche.