Dormant Bitcoin Wallet From 2013 Moves $31M Amid Wave of Old Coin Activity

·1 views

A Bitcoin wallet that had been inactive for 12 years transferred approximately $31 million worth of cryptocurrency on Monday. The movement is not an isolated incident, as it is part of a broader trend of long-dormant wallets becoming active. Analysts have linked this wave of activity to the aftermath of the Coldcard hack. Multiple old wallets appear to have been prompted into action around the same period, raising questions about the security of legacy cold storage solutions.

Read the full story at CoinDesk

This is an AI-generated summary. ShortSingh links to the original source for the complete article.

Discussion (0)

Bhutan's Gelephu City partners with 3iQ to actively manage Bitcoin treasury

Bhutan's planned Gelephu Mindfulness City (GMC) has announced a partnership with crypto asset manager 3iQ to actively manage a portion of its Bitcoin holdings. The arrangement will see 3iQ operate the funds on a market-neutral basis, marking a strategic shift in how the city handles its digital assets. This move comes after GMC pledged a treasury of 10,000 BTC as part of its broader financial strategy. Rather than simply holding Bitcoin as a long-term national reserve, GMC is now putting a share of those holdings to work in the market. The decision signals a more dynamic approach to sovereign crypto asset management among nation-level entities.

0 comments Read more at CoinDesk

Crypto & Web3CoinDesk ·

Jim Cramer Sells Bitcoin Over Quantum Fears, But Crypto Community Stays Calm

CNBC host Jim Cramer has announced he is selling his bitcoin holdings, citing concerns over the potential threat of quantum computing to cryptocurrency security. Despite his warning, bitcoin's price has remained stable at around $64,000. The crypto community has largely dismissed Cramer's alarm, pointing to his historically poor track record in predicting crypto and banking market outcomes. His past calls on financial assets have frequently moved in the opposite direction of his predictions, earning him a contrarian reputation among investors.

0 comments Read more at CoinDesk

Crypto & Web3CoinDesk ·

XRP Holders Can Now Borrow RLUSD on Ethereum via $280M Lending Pool

XRP holders now have the ability to borrow Ripple's stablecoin RLUSD using their XRP as collateral on the Ethereum network. The arrangement is facilitated through a $280 million lending vault that previously had not accepted any XRP-linked asset. This development allows XRP holders to access liquidity without needing to sell their holdings. The move marks a notable integration between the XRP ecosystem and Ethereum-based decentralized finance infrastructure.

0 comments Read more at CoinDesk

Crypto & Web3CoinDesk ·

Solana Proposal Eyes 13x Jump in Daily SOL Burns Amid Fee and Supply Overhaul

A new Solana governance proposal, SGP-0003, aims to dramatically increase daily SOL token burns from $47,000 to $650,000. The proposal also includes a comprehensive fee structure overhaul and would double the network's disinflation rate. To advance to a formal vote, it requires an additional 40 million SOL worth of validator support. The proposal faces a two-week window to gather the necessary backing from the validator community. If passed, the changes would represent a significant shift in Solana's tokenomics and monetary policy.

0 comments Read more at CoinDesk