Ethereum News by Thebittimes.Com

On July 7, the US Government deposited over $219,0000 worth of Ethereum (ETH) to Coinbase Prime, raising concerns about a potential crypto selloff. According to data from Arkham Intel , the transaction came from a wallet called “US Government: FBI,” which holds $100,000 worth of ETH originally seized from NFT scammer Chase Senecal, also known as Horror (HZ), in October 2022.  In total, however, the U.S. Government currently holds 65,156 ETH, worth $166 million. US government crypto transfers. Source: Arkham Intel An institutional crypto selloff? The government has issued no official statement in regard to the recent deposits, but the timing and nature of the transaction point to possibly larger moves in the near future. Namely, given that Coinbase Prime is known as a platform designed for institutional transactions, the market suspects the deposit may signal the government’s desire to offload some of its seized Ethereum holdings.  Moreover, lar...

The head of research at crypto asset firm Galaxy Digital, Alex Thorn, believes the US government will add Bitcoin (BTC) to the Strategic Bitcoin Reserve (SBR). In an appearance on Bloomberg Crypto, Thorn says that in addition to the Bitcoin the US government holds from confiscations, the world’s largest economy will purchase BTC to add to the SBR in 2025. “In March, they had the establishment of the Strategic Bitcoin Reserve and the United States Digital Asset Stockpile Executive Order… …which specifically prohibited the government from selling Bitcoin and ordered the [Departments of] Commerce and Treasury to find out budget-neutral ways to buy Bitcoin while simultaneously prohibiting them from buying altcoins and leaving the management up to those departments for altcoins. I think a lot of progress has been made… And you’ve got Treasury Secretary Scott Bessent literally saying Bitcoin is now becoming a store of value. You’ve got a drumbeat...

MicroStrategy confirmed that none of its 130,000 BTC is custodied by Silvergate. However, the firm does have a loan to pay off to the bank by Q1 2025. Business intelligence firm MicroStrategy and stablecoin issuer Tether have become the latest two firms to publicly deny any meaningful exposure to Silvergate Bank. The news comes as Silvergate announced on Mar. 1 that it would postpone the filing of its annual 10-K financial report, which has many fearing the cryptocurrency bank may be on the brink of a bankruptcy filing. This led MicroStrategy — which holds over 130,000 Bitcoin (BTC) — to confirm that its BTC collateral is not custodied with Silvergate. The Michael Saylor-founded firm added that it will not need to pay back a loan from Silvergate until Q1, 2025, and that a bankruptcy or insolvency event wouldn’t “accelerate” the loan repayment. We have a loan from Silvergate not due until Q1 ‘25. There are mkt concerns re SI’s fin. condition. For anyone wondering, the loan wouldn’t acc...

Members of Crypto Twitter were quick to mock Tucker Carlson, who provided no supporting evidence to back his claims. Controversial Fox news television host Tucker Carlson has proposed a curious conspiracy theory that seeks to link airline delays in the United States and Canada with a surge in the Bitcoin price. He suggested the computer outage behind the widespread delays may have been caused by ransomware and theorized the US Government may have bought a large amount of Bitcoin to pay the ransom. However he did not provide any evidence for his claims. Speaking on his “Tucker Carlson Tonight” segment of Fox News on Jan. 17, Carlson argued that the Bitcoin (BTC) price increased 20%+ soon after the U.S. Federal Aviation Administration (FAA) confirmed the disruption on Jan. 11: “Almost all ransoms like this are paid in Bitcoin. So if the US government was buying huge amounts of Bitcoin in order to pay a ransom, Bitcoin prices would surge, of course. So the question is has that happened? ...