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  • 10/16/23: USA Controls .3% Of All Bitcoin 🇺🇸🏛️🦊

10/16/23: USA Controls .3% Of All Bitcoin 🇺🇸🏛️🦊

Author

Valko
October 16, 2023

Top News

  • 🇺🇸 US Government controls at least $5B Bitcoin, probably more

  • 🏛️ SEC decides not to appeal Grayscale’s victory over spot BTC ETF

  • 🦊 MetaMask back on the Apple App Store after temporary removal

US government among largest Bitcoin hodlers with over $5B in BTC: Report

The seized asset does not instantly belong to the government and The U.S. Marshals Service only receives possession of the seized Bitcoins after a court issues a definitive forfeiture judgment.

⌐◪-◪ → A balance of $5B Bitcoin makes the US government one of the largest BTC holders in the world according to Chainalysis. To put things in context, this is about 0.3% of the total supply. The source of these funds is seizures from Bitfinex and Silk Road. Actual holdings could be much higher.

SEC Won’t Appeal Loss in Grayscale Case, Boosting the Odds GBTC Can Become a Bitcoin ETF

Bitcoin’s price immediately shot up after the news came out.

⌐◪-◪ → The SEC did not appeal on Friday, which means they’ll have to approve Grayscale’s spot BTC ETF, unless they can find a new reason to delay or deny. Analysts now believe there is a 90% of a spot Bitcoin ETF approval by January 2024. Also, looks like the iShare approval is fake news.

Apple briefly pulls MetaMask from App Store

Ethereum wallet MetaMask was removed from Apple’s App Store on Oct. 14.

⌐◪-◪ → Apple kicked MetaMask from the App Store over the weekend with zero explanation. While moments like this are scary I truly believe they make us stronger; forcing us to exist independent of big tech companies, governments, and other financial gatekeepers.

Peripheral Vision

⛓️ Crypto & DeFi

  • MetaMask is back on the Apple App Store after a brief scare

  • Ethereum validator queues drop to record lows

  • Binance burns $450M BNB for this quarter

  • Ferrari to accept BTC payments for its cars, but wen Lambo?

  • Solana retakes Base at $311M TVL

  • Edward Snowden says, I feel excitement” about BTC

  • Dfinity is developing a blockchain solution for recycling incentives

  • Scroll, the highly anticipated ETH L2, sees low adoption after week 1

  • Gauntlet wants Aave to depreciate MAI stablecoin due to depeg ($.72)

  • TreeUSD third-party security breach reveals client’s wallet addresses

🏦 Wallstreet & VC

🏛️ Legal & Regulatory

  • Coinbase calls out “troubling intransigence” by SEC on crypto

  • California Governor signs Digital Financial Asset Law for 2025

  • Uniswap pools may soon include a KYC check

  • Sam Trabucco not being charged in FTX trial according to insider

  • FTX Estate decides to stake $122M Solana instead of selling

  • SBF’s lawyers ask for ADHD meds so he can focus in court

  • Tether freezes 32 cryptocurrency wallets related to terrorism

🌎 Rest of the World

  • Solana becomes ecosystem partner of Dubai free zone

  • Upbit receives preliminary approval for Singapore digital assets license

  • Australia proposes crypto exchange regulation with existing laws

  • Hamas received $93m from Russian exchange Garantex

  • Dutch Libertarian Party candidate, "Not your keys, not your coins"

  • G20 approves regulatory roadmap for Crypto

  • El Salvador VP says BTC is driving a, “rebirth of our country”

🖼️ NFTs & Metaverse

Spectacular Shoutout

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