• The US government is reportedly holding $6B worth of Bitcoin, according to Glassnode data.
• Coinbase suggested that SEC action may be motivated by Gary Gensler’s personal views.
• A vigilante hacker burned hundreds of BTC held in wallets used by Russian intelligence.
US Government Holds $6B Worth of Bitcoin
Data from Glassnode suggests that the United States government is currently holding over $6 billion worth of Bitcoin (BTC). Coinbase has also suggested that recent enforcement actions taken by the Securities and Exchange Commission (SEC) may be motivated by Gary Gensler’s own views on cryptocurrency regulation.
Vigilante Hacker Burns Hundreds of BTC
A vigilante hacker recently destroyed hundreds of BTC held in wallets used by Russian intelligence services and other hostile actors. The attack was quickly condemned by many in the industry due to its potential implications for the security and stability of the blockchain network, as well as its potential legal ramifications for those involved.
Gensler Analogizes Crypto vs Securities
SEC Chairman Gary Gensler recently sparked controversy when he analogized cryptocurrencies such as Bitcoin to securities, comparing it to “calling a dog a goldfish”. This comment has been met with significant backlash from within the industry, who believe that such analogies are inaccurate and overly simplistic.
Congress Raises Concerns Over De-Banking
Several members of Congress have raised concerns regarding efforts made by prudential regulators to ‘de-bank’ cryptocurrency firms in an effort to limit their access to traditional banking services. Critics argue that these efforts could stifle innovation within the industry while failing to address underlying issues related to money laundering or financial fraud.
Polygon & Filecoin Partner with Google Cloud
Polygon Labs has entered a multi-year agreement with Google Cloud which will provide customers with automated access to Polygon blockchain nodes through its fully managed node hosting service. Filecoin has also announced plans for its own cloud service offering, allowing users access to distributed storage across multiple nodes on its network.