Q1

Semler Scientific reported a Bitcoin impairment loss of approximately $41.8 million in Q1 this year

ChainCatcher news, according to CryptoPotato, medical diagnostics company Semler Scientific disclosed in an SEC filing submitted on April 15 that it incurred an unrealized loss of approximately $41.8 million from Bitcoin investments in the first quarter of 2025. This loss resulted from the BTC price plummeting from $93,500 at the beginning of January to about $82,000 by March 31.Despite facing losses, Semler still holds 3,182 Bitcoins, making it the twelfth largest corporate Bitcoin holder in the world, just behind Boyaa Interactive International Limited. CEO Doug Murphy-Chutorian reiterated the company's dual strategy of focusing on both Bitcoin accumulation and medical innovation.Financially, Semler expects first-quarter revenue to be between $8.8 million and $8.9 million, but anticipates an operating loss of $1.3 million to $1.5 million. As of March 31, the company held approximately $10 million in cash and cash equivalents.Meanwhile, Semler announced through another 8-K filing that it has reached a principle agreement with the U.S. Department of Justice (DOJ) to pay approximately $30 million to resolve a long-standing legal dispute. This dispute involves the company allegedly charging Medicare for medical devices through improper marketing, in violation of the False Claims Act.Semler also announced plans to issue up to $500 million in securities, with the proceeds to be used for general corporate purposes, including continued cryptocurrency purchases. Since the beginning of the year, the company's stock traded on NASDAQ (SMLR) has fallen over 22%.

Coingecko: In Q1 of this year, the total market capitalization of the crypto market fell by 18.6% to $2.8 trillion, while Bitcoin strengthened its dominant position against the trend

ChainCatcher news, according to the Coingecko quarterly report, the total market capitalization of cryptocurrencies fell by 18.6% to $2.8 trillion in the first quarter of 2025. Bitcoin further solidified its dominance in the market downturn, with its market share rising to 59.1% (a new high since 2021), while altcoins generally performed poorly. The shares of stablecoins USDT and USDC increased, while Ethereum's market share dropped to a five-year low of 7.9%.​1. Bitcoin outperforms traditional risk assetsBitcoin broke through $100,000 in January, reaching an all-time high, but ended the quarter at $82,514 (a decline of 11.8%). Its performance outpaced the Nasdaq index (down 10.3%), but lagged behind gold (up 18%) and U.S. Treasury bonds. Analysts pointed out that the strengthening of the yen and euro, adjustments in monetary policy, and geopolitical uncertainties have intensified market volatility.​2. Ethereum and altcoins under pressureEthereum's price plummeted 45.3% to $1,805, erasing all gains made in 2024, with daily trading volume shrinking to $2.44 billion. Leading altcoins like Solana (SOL), XRP, and BNB experienced smaller pullbacks, highlighting Ethereum's relative weakness. Meme coins suffered a significant setback due to the exit of Argentine President Javier Milei's related project LIBRA, with daily token deployment on the Pump.fun platform dropping by 56.3%.​3. Changes in exchange landscapeThe spot trading volume of centralized exchanges (CEX) decreased by 16.3% to $5.4 trillion, with Binance maintaining a market share of 40.7%; HTX became the only platform in the top ten to see growth (+11.4%), while Bybit's trading volume was halved due to a hacking incident in February. Among decentralized exchanges (DEX), Solana led Q1 with a 39.6% share, but Ethereum briefly reclaimed the top spot in March. The total value locked (TVL) in DeFi fell by 27.5% to $12.86 billion, while the new public chain Berachain's TVL rose against the trend to $5.2 billion.

The BGB destruction rules have been upgraded, and approximately 30 million BGB will be destroyed in Q1 2025

ChainCatcher news, Bitget announcement shows that in order to enhance the compliance and transparency of the BGB and burn plan, and to better empower the BGB ecosystem, Bitget Token (BGB) will update and upgrade the burn plan. According to the new rules, the quarterly burn amount of Bitget Token (BGB) will be linked to the "on-chain Gas fees." The new burn mechanism is based on the actual usage scenarios of BGB and ensures community transparency, with the "total amount of BGB used for Gas fees quarterly" being publicly available on-chain.Based on this burn rule, 30,006,905 BGB will be burned in the first quarter of 2025, accounting for approximately 2.5% of the total supply. The corresponding amount of BGB will be sent to the burn address, and the on-chain record will be published upon completion. According to CoinMarketCap data, the market capitalization of BGB is approximately 5 billion USD, ranking 25th. The current total supply is about 1.2 billion, and it is in a 100% fully circulating state.Bitget CEO Gracy Chen stated: BGB is becoming an important bridge connecting centralized and decentralized ecosystems. By linking the burn mechanism to actual on-chain usage, the quarterly burn amount of BGB will dynamically change with real usage. This update not only incentivizes broader usage but also builds a more transparent and sustainable token economic model. As BGB's role in the on-chain ecosystem continues to expand, the burn mechanism will also become more sustainable.
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