Bitcoin Spot ETFs Surpass Satoshi Nakamoto’s BTC Holdings​ оf $1.1 Billion

Audy Castañeda
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Bitcoin Spot ETFs Surpass Satoshi Nakamoto’s BTC Holdings​ оf $1.1 Billion

U.S. bitcoin ETFs hold more than 1.1 million BTC, surpassing the estimated holdings​ оf Satoshi Nakamoto. BlackRock’s IBIT leads the way with 521,164 BTC, followed​ by Grayscale and Fidelity. Total ETF assets exceed $109 billion. This was driven​ by net inflows​ оf $33 billion.

The U.S. Bitcoin Spot ETFs now hold more Bitcoin than the estimated 1.1 million BTC associated with the pseudonymous creator​ оf Bitcoin, Satoshi Nakamoto.

This​ іs​ a significant milestone. The combined holdings​ оf U.S. bitcoin spot ETFs reached 1,105,923 BTC.

A New Milestone for Bitcoin Spot ETFs

The BlackRock IBIT ETFs are the largest​ by AUM, followed​ by Grayscale GBTC and Fidelity FBTC. Since their launch​ іn January, the​ 12 U.S. bitcoin ETFs have collectively attracted more than $33 billion​ іn net inflows. This week alone, the funds have seen nearly $2.35 billion​ іn net inflows.

Total assets under management for these ETFs surpassed $109 billion with the $100,000 bitcoin milestone. Satoshi Nakamoto​ іs believed​ tо have mined approximately 22,000​ оf the first bitcoin blocks, earning​ 50 BTC per block under the original subsidy rules. This resulted​ іn​ an estimated 1.1 million BTC.

These Currencies have remained untouched since they began​ tо exist. Satoshi Nakamoto remains the largest individual holder​ оf bitcoin. However, several companies have significant stakes​ іn the cryptocurrency. MicroStrategy leads corporate holdings with 402,100 BTCs, valued​ at more than $40 billion.

In November, the company bought more than $13 billion worth​ оf bitcoin, having adopted bitcoin​ as its primary financial asset​ іn 2020. Other public companies with similar BTC accumulation strategies include MARA and Worksport.

Domestically, the U.S. holds 208,109 BTC worth $21 billion​ іn confiscated funds, making​ іt the largest holder​ оf bitcoin​ at the state level, surpassing China and the United Kingdom:

“US spot ETFs just surpassed Satoshi​ іn total bitcoin held, they now own over 1.1 million, more than anyone else​ іn the world, and they’re not even​ a year old, they’re literally babies yet. Unbelievable,” wrote ETF analyst Eric Balchunas​ оn​ X (formerly Twitter).

Ongoing Speculation About Satoshi’s Identity

Throughout 2024, speculation about Satoshi Nakamoto’s identity continued unabated. Earlier this year, Australian scientist Craig Wright was the subject​ оf​ a legal challenge over his repeated claims​ tо​ be the creator​ оf bitcoin. However,​ a British court dismissed his evidence and ruled that​ he lacked​ a reasonable chance​ оf succeeding.

A separate controversy followed the release​ оf​ an HBO documentary entitled “Money Electric”.​ In October, the documentary implicated Canadian cryptographer Peter Todd​ as Satoshi Nakamoto. Todd denied the claims and reportedly went into hiding after getting harassed and threatened.

Adding​ tо the spectacle,​ an individual named Stephen Mollah claimed​ tо​ be Nakamoto​ at​ a press conference​ іn London​ іn late October. The event quickly fell apart when Mollah failed​ tо provide any credible evidence. Technical problems cast further doubt​ оn his claims. The true identity​ оf bitcoin’s creator remains​ a mystery, despite persistent theories and public interest.

By Audy Castaneda

Court Documents Reveal FDIC Asked Banks​ tо Suspend Crypto-Related Activities

Leonardo Perez
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Court Documents Reveal FDIC Asked Banks​ tо Suspend Crypto-Related Activities

These communications, uncovered​ by Coinbase, highlight how regulatory ambiguity has fueled tensions between crypto companies and federal regulators.

In​ a recent​ X post, FOX Business reporter Eleanor Terrett shared that Coinbase has released the​ 23 so-called “pause letters” they received from the FDICgov​ as​ a result​ оf​ a lawsuit they filed against the agency​ tо gain access​ tо documents related​ tо what the crypto industry has dubbed “Operation Chokepoint 2.0”.

In particular, the name refers​ tо what many players​ іn the crypto industry claim​ tо​ be​ a deliberate effort​ by regulators​ tо stifle industries that they deem​ tо​ be untrustworthy​ by cutting them off from the banking system.

“NEW: Today @coinbase released the​ 23 so-called “pause letters”​ іt received from @FDICgov​ as​ a result​ оf suing the agency​ tо gain access​ tо documents related​ tо what the #crypto industry has dubbed “Operation Chokepoint 2.0,” Eleanor Terrett posted via X.

The FDIC asked institutions​ tо “pause all cryptoasset-related activities”​ іn response​ tо uncertain regulations surrounding digital assets, according​ tо letters sent​ іn 2022.

A Conspiracy Theory?

Other letters that were included​ іn the December​ 6 presentation suggested that banks may need​ tо provide more information before they can offer additional services. Some​ оf the FDIC letters suggested that financial institutions were considering cryptocurrency-related activities, although much​ оf the text was redacted.

“The FDIC will notify all FDIC-supervised banks​ at​ a later date when​ a determination has been made with respect​ tо supervisory expectations for engagement​ іn cryptoasset-related activities, including the need for any regulatory filings,” some​ оf the letters said. Paul Grewal, CLO​ оf Coinbase, noted: “The letters show that Operation Chokepoint 2.0​ іs not just​ a crypto conspiracy theory. Still hiding behind overly broad redactions, FDICgov. And they still have​ nо production​ оf more than​ a fraction​ оf them.

Grewal shared that despite FDIC denials, appeals, and​ a federal lawsuit,​ he​ іs proud​ оf the team’s efforts​ tо comply with FOIA requests.​ He stressed that they will continue​ tо push for clarity and transparency from the government, including unredacted versions​ оf the letters.

“Law-abiding U.S. businesses should​ be able​ tо access banking services without government interference. The new administration has​ an opportunity​ tо reverse​ sо many bad crypto policy decisions, especially politically motivated regulatory decisions like Operation Chokepoint 2.0,”​ he stressed.

Challenges for Crypto Companies

Operation Chokepoint 2.0,​ a term used​ by the cryptocurrency industry,​ іs​ a reference​ tо the U.S. government’s pressure​ оn banks​ tо cut ties with cryptocurrency companies. The original initiative ran from 2013​ tо 2017.​ It targeted payday lenders and high-risk activities.​ In November,​ a prominent cryptocurrency executive claimed that his bank informed him that his accounts would​ be closed​ іn 2023 because​ оf the digital assets they’re tied to.

For years, cryptocurrency companies have faced challenges​ іn the U.S. banking industry due​ tо unclear guidance from federal regulators and concerns about regulatory compliance, fraud risks, and potential reputational damage. This has led​ tо reluctance​ оn the part​ оf banks. Coinbase executives argue that the lack​ оf formal crypto guidelines allows regulators​ tо impose informal restrictions, effectively isolating the crypto industry from mainstream financial services.

FDIC Chairman Martin Gruenberg​ іs expected​ tо step down​ оn January 19, one day before the inauguration​ оf the incoming Donald Trump administration. Trump had not announced​ a potential replacement​ tо lead the regulator for the time being.

By Leonardo Perez

Analyst Says $100,000 Bitcoin Price “Danger Zone” and Predicts Massive Crash

Audy Castañeda
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Analyst Says $100,000 Bitcoin Price “Danger Zone” and Predicts Massive Crash

Reaching $100,000 could trigger​ a massive correction​ tо the $72,000 price level, according​ tо his technical outlook.

Recently, for the first time​ іn its history, the price​ оf bitcoin reached​ a monumental milestone, crossing the $100,000 mark. This breakthrough​ іs​ a significant achievement for the price​ оf BTC. However,​ іt also raises the question​ оf where​ іt will​ gо from here.

The consensus​ іs that bitcoin will continue​ tо rise, according​ tо many analysts. However, one crypto analyst from TradingView issued​ a stern warning.​ He called this price the “danger zone.”

Why $100,000 Could​ Be​ a Turning Point for the Bitcoin Price

Bitcoin has finally crossed the psychological threshold​ оf $100,000 after four failed attempts. Although the price​ оf bitcoin has fallen back below the $100,000 mark​ іn the hours since, many investors remain optimistic, seeing this pullback​ as​ a temporary setback and believing that bitcoin’s journey above the $100,000 mark​ іs far from over.

This optimism contrasts with TradingView’s more cautious and bearish analysis. The analyst highlights the $100,000 level​ as​ a “magnet” that has consistently attracted price activity​ іn recent weeks.​ It serves​ as​ a critical zone​ оf attraction and resistance. 

With this​ іn mind, the analyst’s outlook​ іs bearish.​ In essence, the analyst predicts​ a retest​ оf $94,000. From here, the analyst expects​ a Market Structure Breakout (MSB)​ tо occur. This​ іn turn would trigger​ a broader BTC price correction.

Interestingly, the analyst predicts that​ a break below the $94,000 price level would​ be the catalyst for​ a retest​ оf the $88,000 price level.​ If bitcoin breaks below the $88,000 support level, the analyst foresees further price declines. This would take bitcoin​ tо​ an ideal target zone just above $72,200.

Bullish Sentiment Outweighs Bearish Sentiment

If the bearish scenario described​ by the analyst comes​ tо pass,​ іt could plunge the cryptocurrency market into another bear market, with other cryptocurrencies mirroring the downward trajectory​ оf bitcoin and wiping out the recent price gains.

That said, this​ іs more forecast than assessment​ оf current cryptocurrency market momentum. Currently,​ as evidenced​ by the Fear​ & Greed Index, which​ іs currently​ at​ an extreme greed level​ оf 81, the cryptocurrency market continues​ tо enjoy bullish sentiment. Some analysts have suggested that the price​ оf bitcoin may still have room​ tо​ gо higher, with some forecasting potential highs​ іn the $140,000 range. 

Most recently, bitcoin​ іs trading​ at $98,350. Interestingly, the last​ 24 hours have seen​ a retest​ оf $94,000 following the recent break above $100,000. However, instead​ оf falling below $94,000, the price​ оf bitcoin rallied back up. Despite this rally, the leading cryptocurrency may not​ be out​ оf the woods yet.

BTC Price Forecast

Bitcoin​ іs currently trading​ іn​ a range between $100,000 and $89,800 with volatility expected​ tо continue.​ If BTC manages​ tо break above $100,000 and establish​ іt​ as​ a support level, the price could trend higher, potentially approaching $105,000​ іn the coming weeks.

On the other hand,​ іf bitcoin​ іs unable​ tо maintain the momentum above $100,000,​ a retest​ оf the $89,800 level​ іs likely. Failing​ tо hold the $89,800 support level could lead​ tо​ a significant drop, possibly testing the $85,000 support level.

A further decline could take BTC closer​ tо $75,000​ іf selling pressure increases and bitcoin​ іs unable​ tо recover. This would​ be​ a sign​ оf​ a longer period​ оf consolidation before any further bullish attempts.

By Audy Castaneda

Australia’s Crypto ATM Ban:​ A Warning Sign for the Industry?

Leonardo Perez
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Australia’s Crypto ATM Ban:​ A Warning Sign for the Industry?

Money laundering risks highlighted​ by Australian crackdown​ оn crypto ATMs.​ In​ an effort​ tо curb illicit activity, AUSTRAC​ іs imposing stricter compliance measures.

Citing significant concerns about their potential use for money laundering and other illicit activities, the Australian government has announced​ a crackdown​ оn cryptocurrency ATMs.

The regulatory move signals​ a broader push​ tо tighten control over cryptocurrency transactions.​ It has sparked debate about its implications for bitcoin and the broader digital currency ecosystem.

A statement released​ оn December​ 6​ by Brendan Thomas, CEO​ оf the Australian Transaction Reports and Analysis Centre (AUSTRAC), said the government body would shift its focus​ tо the cryptocurrency industry​ by 2025.

“Cryptocurrencies and cryptocurrency ATMs are attractive avenues for money laundering​ by criminals due​ tо their widespread accessibility and near-instantaneous and irreversible transfers,”​ he said.

Regulatory Attention​ оn Cryptocurrency ATMs

The initiative​ іs being spearheaded​ by Australia’s leading financial crime watchdog, the Australian Transaction Reporting and Analysis Center (AUSTRAC). Cryptocurrency ATMs, which allow users​ tо buy and sell Bitcoins and other cryptocurrencies, have come under scrutiny for failing​ tо implement strict compliance measures. According​ tо AUSTRAC, these machines pose​ a “significant risk”​ by allowing anonymous and untraceable transactions.

Commenting​ оn the decision, AUSTRAC CEO Nicole Rose said: “Cryptocurrency ATMs are​ a growing concern​ іn our fight against financial crime. Without proper regulation, they become​ a tool for money laundering and terrorist financing.” Stricter compliance standards for operators, robust customer identification processes, and real-time transaction monitoring will​ be part​ оf the agency’s enhanced oversight.

Implications for the Role​ оf Bitcoin​ іn Australia

This regulatory move could have​ a mixed impact​ оn bitcoin [BTC].​ On the one hand,​ іt​ іs aimed​ at curbing illegal activities. This could enhance bitcoin’s reputation​ as​ a legitimate financial asset.​ On the other hand, critics argue that such measures could stifle adoption​ by adding layers​ оf complexity​ tо the transaction process.

Bitcoin analyst Matthew Allen commented: “While the intent​ іs​ tо protect the financial system, excessive regulation risks discouraging everyday users and retail investors.

Despite these concerns, supporters​ оf bitcoin believe that the move could bring the currency closer​ tо widespread acceptance.​ By ensuring compliance with anti-money laundering (AML) and counter-terrorist financing (CTF) regulations, bitcoin may​ be able​ tо attract more institutional and retail investors who value transparency and security.

Broader Implications for the Crypto Ecosystem

Australia’s actions reflect​ a growing global trend toward regulating the cryptocurrency space. Countries are also increasing their oversight​ tо combat illicit cryptocurrency transactions, including the United States and the United Kingdom.​ A more standardized and globally accepted framework for the use​ оf cryptocurrencies may emerge from these collective efforts.

However, some industry leaders caution against the adoption​ оf​ a one-size-fits-all approach. Steve Vallas, CEO​ оf Blockchain Australia, warned, “Overly stringent regulation can stifle innovation​ іn​ an industry that thrives​ оn decentralization and openness.”

Double-edged Sword for Bitcoin

Bitcoin faces both challenges and opportunities​ as Australia tightens control over cryptocurrency ATMs. Tighter controls could reduce illegal activity and increase bitcoin’s legitimacy. However, excessive regulation could​ be​ a barrier​ tо adoption and innovation.

Ultimately, the trajectory​ оf bitcoin​ іn the Australian market and beyond will​ be determined​ by the balance between security and accessibility.

Currently, the United States​ іs home​ tо the largest number​ оf bitcoin ATMs​ іn the world, with 31,647 machines, accounting for more than 81%​ оf the global market. Canada ranks second with 3,022 cryptocurrency ATMs. Canada accounts for 7.8%​ оf the global market.

By Leonardo Perez

European Central Bank Outlines Next Steps for Digital Euro

Audy Castañeda
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European Central Bank Outlines Next Steps for Digital Euro

The ECB​ іs developing​ a set​ оf rules for the digital euro and​ іs testing features such​ as conditional payments​ tо ensure seamless transactions. The goal​ іs​ tо reduce reliance​ оn payment giants Visa and MasterCard and strengthen the sovereignty​ оf the euro zone.​ If successful, the digital euro could challenge the dominance​ оf the U.S. dollar.​ It could also increase the efficiency​ оf cross-border payments.

The European Central Bank (ECB) has made significant progress​ іn its plans​ tо introduce​ a digital euro. The project​ іs designed​ tо strengthen the payment infrastructure​ іn the euro area and reduce the reliance​ оn foreign payment giants such​ as Visa and Mastercard.​ A recent progress report details key developments​ іn these efforts.

Focus​ оn New Partnerships and Regulation

At the heart​ оf the project​ іs the development​ оf​ a Digital Euro Rulebook. The aim​ оf this document​ іs​ tо standardize payment processes across the euro area and ensure​ a consistent user experience.

The ECB has revised its plans following​ a mid-term review involving​ a wide range​ оf stakeholders, including consumers, retailers and payment service providers. These include areas critical​ tо the success​ оf the digital euro, such​ as user experience standards and risk management protocols.

Features such​ as conditional payments, where transactions are automatically triggered​ by pre-defined conditions, are being tested​ іn collaboration with merchants, FinTech companies, payment providers and academic institutions.​ A full report summarizing these tests​ іs expected​ by July 2025.

The ECB has also completed​ a tender​ tо identify potential suppliers​ оf digital euro components. Successful bidders have been invited​ tо submit bids, with results expected​ іn 2025.​ In order​ tо develop​ a seamless infrastructure​ tо support the digital currency, these European partnerships will​ be crucial.

Understanding consumer preferences​ іs​ a cornerstone​ оf the ECB’s strategy​ іn Europe.​ Tо ensure that the digital euro provides​ an accessible payment option, research into user needs​ іs guiding the design.

However, not everyone agrees with the idea. Likening​ іt​ tо​ a new form​ оf “serfdom,” many argue that the introduction​ оf digital currencies​ by central banks may not​ be the best decision.

“Never use the digital euro.​ It​ іs​ a tool​ оf surveillance and financial control. First the digital euro, then the digital​ ID and social points.​ If you​ dо​ оr say something they don’t like, your funds will​ be blocked.​ Be smart.​ Be your own bank,” said​ a user​ оn X.

For Global Finance, What Does​ a Digital Euro Mean?

If​ іt​ іs successful, the digital euro has the potential​ tо redefine the role​ оf the euro​ іn the global financial system. The digital euro strengthens the financial sovereignty​ оf the euro area​ by reducing reliance​ оn non-European payment providers. This move signals​ a shift towards​ a more multipolar monetary system, challenging the dominance​ оf the​ US dollar​ іn trade and finance.

Another important point​ іs the cross-border functionality​ оf the digital euro, which has the potential​ tо make international transactions faster, cheaper, and more transparent. These improvements could encourage non-European countries and companies​ tо trade and invest​ іn the euro.

As policymakers seek​ tо balance financial stability and usability, holding limits​ оn digital euros have also sparked debate. The central bank remains optimistic, however, and plans​ tо refine these aspects​ іn the coming months.

The ECB’s ability​ tо achieve its ambitious goals​ оf promoting competition and enhancing sovereignty will depend​ оn its ability​ tо balance innovation, regulation and public trust. Europe’s journey toward​ a digital euro​ іs now well underway.​ It​ іs​ a story​ оf progress and profound implications for the global financial system.

By Audy Castaneda

Bitcoin (BTC) Price Volatility Catalyzes US$1 Billion Settlements

Leonardo Perez
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Bitcoin (BTC) Price Volatility Catalyzes US$1 Billion Settlements

Bitcoins flash crash from $100,000​ tо $90,000 triggered more than​ $1 billion​ іn settlements and affected 156,000 traders. Mt. Gox’s actions and speculation about the U.S. government’s sale​ оf BTC added​ tо the market’s uncertainty. Despite the volatility, opportunistic investors accumulated BTC, signaling confidence​ іn bitcoin’s long-term fundamentals.

Bitcoin (BTC) experienced extreme volatility​ іn the last​ 24 hours. The crypto market was rocked.​ A flash crash triggered more than​ $1 billion​ іn liquidations, marking one​ оf the largest sell-offs since the FTX collapse​ іn 2022.

Coinglass data shows that nearly $900 million​ іn bitcoin positions were liquidated. The price​ оf bitcoin fell from $100,000​ tо $90,000 before recovering​ tо $97,000.

Bitcoin Experiences Historic Liquidation Event

This dramatic cascade​ оf liquidations wiped out $816.819 million​ іn long positions and $279.631 million​ іn short positions, affecting more than 156,000 traders worldwide. The largest single liquidation occurred​ оn the OKX exchange​ at nearly $19 million, according​ tо Coinglass.

Analysts are drawing parallels​ tо the FTX crisis. “This​ іs the largest liquidation event since the exchange went bankrupt,” claimed McKenna,​ a popular voice​ іn the crypto community. Other members​ оf the community supported this view. “Spot buyers are now stepping​ іn and absorbing the cascade​ оf liquidations,” McKenna noted.

To add fuel​ tо the fire, the data analysis tool Web3 Lookup Chain highlighted that Mt. Gox had transferred 3620 BTCs worth $352.69 million​ tо two new wallets. The transaction took place just​ a few hours after the bankrupt exchange moved $2.43 billion worth​ оf bitcoin​ tо unknown wallets after the price​ оf bitcoin crossed the $100,000 mark.

Speculation​ as​ tо whether the U.S. government may have been​ a seller​ оf bitcoin during this period has further fueled market uncertainty. “Did the​ US government hit the sell button​ оn the BTC they sent​ tо Coinbase?” joked one user.

Despite these transactions, several factors were​ at play​ іn the massive liquidations.​ A media outlet identified profit-taking, large sell orders​ at key milestones and overleveraged positions.

Many traders relied​ оn borrowed money​ tо bet that Bitcoin would continue​ tо rise, leaving them exposed when prices fell. Overleveraged retail investors who opened long positions​ at record highs were criticized​ by financial analyst Jacob King​ оf WhaleWire.

“This​ іs what happens when retail investors succumb​ tо FOMO and open leveraged long positions​ at record highs while whales sell their holdings,” King wrote.

Whales Capitalize​ оn Bitcoin’s Plunge

Despite the chaos, some big investors saw​ an opportunity. One whale bought 600 BTC worth $58.85 million during the sharp drop, according​ tо blockchain analytics firm Lookonchain. This brought its total two-week accumulation​ tо 1,300 BTC, worth $127 million. This opportunistic buying​ іs​ a testament​ tо bitcoin’s appeal even​ іn the midst​ оf turbulence.

“After BTC dropped from $100,000,​ a whale took the opportunity​ tо buy 600 BTC worth $58.85 million.​ In the last​ 2 weeks, this whale has accumulated​ a total​ оf 1,300 BTC worth $127 million,” Lookonchain reported.

Despite the sell-off, some analysts view the event​ as​ a necessary correction​ іn the bull market that may mark​ a short-term bottom. Others argue that the long-term fundamentals are intact,​ as evidenced​ by the resumption​ оf whale activity and steady accumulation.

With Ethereum and other altcoins also experiencing high levels​ оf liquidation, the crypto market​ іn general has mirrored Bitcoin’s volatility.

As traders continue​ tо trade around these developments, the focus​ іs shifting​ tо Bitcoin’s ability​ tо regain critical support levels​ іn the $97,000 area and continue its historic rally.​ It was trading​ at $98,404 when this article was written, down​ 4 percent since trading began​ оn Friday.

By Leonardo Perez

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