Bitcoin’s metamorphosis into a heavily centralized asset is both astounding and concerning. A recent analysis from Gemini and Glassnode unveils that over 30% of Bitcoin’s total supply is now locked in the hands of merely 216 major institutional entities. This staggering concentration includes not only crypto exchanges but also ETFs, government organizations, and private firms.
Exchanges
The recent withdrawal of BiT Global’s lawsuit against Coinbase is more than just a legal formality; it is symptomatic of escalating tensions within the cryptocurrency space. The delisting of Wrapped Bitcoin (WBTC) from Coinbase—a decision reportedly driven by concerns over governance and potential risks—has ignited a proverbial powder keg. It’s indicative of a larger battle
In a recent announcement, Brian Armstrong, CEO of Coinbase, boasted about an 82% reduction in unnecessary account restrictions on their platform. While this may seem like a significant achievement, the very necessity of such a proclamation raises eyebrows. The phrase “unnecessary account freezes” should not simply be a point of pride but a reflection of
Gemini, the cryptocurrency exchange founded by the Winklevoss twins, has strategically filed for an initial public offering (IPO) with the U.S. Securities and Exchange Commission (SEC). This monumental move comes at a time when public interest in cryptocurrencies is burgeoning and the regulatory framework is evolving. The filing signals a strong intention to become a
The recent data breach involving Coinbase marks not just a failure in cybersecurity protocols but a troubling evolution of how personal data misuse can manifest in today’s increasingly digital yet perilous world. While incidents of data leaks are commonplace, the fallout from Coinbase’s breach is particularly alarming because it transcends the usual virtual scams, thrusting
In a staggering development for the cryptocurrency world, Indian exchange WazirX has faced a critical legal blow as the Singapore High Court rejected its restructuring proposal following a $230 million hack in July 2024. This failure to secure court approval is not just a procedural bump; it represents a significant blow to WazirX’s credibility in
In a financial landscape increasingly dominated by cryptocurrencies, Robinhood’s recent acquisition of Bitstamp for $200 million marks a significant transition for the fintech giant. For a long time viewed primarily as a U.S.-centric platform, Robinhood is now poised to expand its influence globally, thanks to this strategic partnership with one of the oldest cryptocurrency exchanges.
The recent announcement from IG Group to allow retail investors in the United Kingdom to trade 38 cryptocurrencies marks a significant moment in the evolution of financial markets. While many celebrate this move as a step forward in democratizing access to digital assets, others question whether this bold stride effectively balances opportunity and risk. The
The launch of the FTX Recovery Trust to repay over $5 billion represents a crucial turning point for the cryptocurrency landscape. Not only is this the largest repayment initiative in the aftermath of one of the most significant collapses in the sector, but it also brings with it the promise of heightened liquidity that could
In a bold twist within the volatile world of cryptocurrency, the U.S. Securities and Exchange Commission (SEC) appears to be backing off its aggressive stance against Binance, led by its enigmatic founder Changpeng Zhao, often called ‘CZ’. On May 29, the SEC requested a federal judge to dismiss its civil complaint against Binance, a move
