Bhutan’s sovereign fund shifted over $8 million in Bitcoin amid a drop in its Aave loan health rate, as global market and regulatory pressures intensify.
Bhutan’s sovereign fund saw its Aave loan health rate fall to 1.15 before transferring 100.82 BTC, valued at $8.31 million, to Singapore-based QCP Capital. The Bitcoin market cap has slipped to 12th globally. In parallel, Hong Kong’s Securities and Futures Commission (SFC) cautioned against suspicious cryptocurrency trading platforms, while Binance revealed plans to roll out new stock perpetual products. The developments highlight ongoing sovereign engagement in crypto alongside increasing regulatory scrutiny and product diversification by major exchanges.