Bitcoin Insights

2023-03-08 14:24:46 Approximately 40k $BTC from wallets associated with US Government law enforcement seizures are on the move.

Of these, the majority appear to be internal transfers (so far), however approximately 9,861 $BTC seized from the Silk Road hacker have been sent to our Coinbase cluster.

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2023-03-07 14:38:28 The FTX balance sheet is really something

$1.6 billion worth of Bitcoin owed to customers, with only $1m there in reality

Rough NFA breakdown of what liquidators have found so far across all silos

-$3.5b in 'liquid' coins
-$1.7b cash
-$800m 'illiquid' coins (SRM, MAPS etc aka zero)
-$500m FTT (zero)
-$250m stonks (mostly GBTC)

-$4.5b book value venture investments (worth who knows in reality)

~$5.5b 'liquid' assets
~$11.5b customer liabilities

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2023-03-06 16:39:00 Mt. Gox creditors may receive repayments from March 10 onward.

137,890 $BTC($3B) unlock is coming soon!

Mt. Gox suspended withdrawals on Feb 7, 2014, when the price of $BTC was ~$800.

And the current price of $BTC is $22,408.

Will creditors sell BTC after receiving it?

Yes | No

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2023-03-06 11:30:34 After $766M Bitcoin, Ethereum Loss, Babel Plans to Launch ‘Recovery Coin’

Babel estimates $524 million worth of Bitcoin, Ether and other tokens owned by the company and its customers was lost as a result of Wang’s trading activities. Another $224 million was also lost when Babel counterparties liquidated collateral after it was unable to meet a large volume of margin calls.

Citing a recent filing viewed, Bloomberg reported that the crypto lender has proposed paying back debts to creditors with revenue earned via a new DeFi project. Dubbed “Babel Recovery Coins,” a top executive is banking on a new stablecoin to help sort out its financial crisis.

Link

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2023-03-03 18:38:20 Insights and Breaking News on Bitcoin and the whole ecosystem.

Admin: @BitcoinInsightsAdmin

No financial advice

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2023-03-03 11:26:34 UK Banks are restricting cryptocurrency purchases

Nationwide is applying daily limits of £5,000 on debit-card purchases of cryptoassets, while its credit cards can no longer be used to buy crypto. HSBC said it banned customers from making crypto purchases via its credit cards from last month.

HSBC is also the settlement bank for all banks in Hong Kong, and its harsh attitude towards cryptocurrencies may have an impact on Hong Kong's new crypto policy.

Link

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2023-03-02 19:29:06 Coinbase Drops Silvergate as USD Banking Partner for Prime Customers, Moving to Signature: Memo

Coinbase announced that it is no longer accepting or initiating payments to or from Silvergate. Crypto friendly bank Silvergate said it would be unable to meet an extended March 16 deadline for submitting its annual report. Its stock price has down -45.37% on Pre-Market.

"Coinbase Prime has elected to make changes to our USD banking partners," the firm said in a message to customers. "We are facilitating fiat withdrawals and deposits using Signature Bank, effective immediately."

Link

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2023-03-02 18:55:25 BREAKING: Xapo Bank becomes first bank in the world to integrate the Bitcoin Lightning Network

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2023-03-02 12:00:21 BREAKING NEWS:

THE GERMAN CENTRAL BANK SUFFERED A €1 BILLION HIT FROM ITS BOND HOLDINGS AND WARNED FUTURE LOSSES WOULD WIPE OUT ITS REMAINING FINANCIAL BUFFERS

Central banks are feeling the heat from their own mistakes.

“The Bundesbank has bought €1tn of mostly German government debt since 2015 as part of the European Central Bank’s bond-buying programmes...”

Link

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