📰 The U.S. government just transferred around 17,700 BTC to Coinbase Prime. At first glance, that can certainly be alarming, but K33’s take is that most of it looks more like a custodial transfer than a direct sell-off.
Around 12,267 BTC are related to the Bitfinex hack. Coinbase Prime has served as custodian for the U.S. Marshals Service since 2024, so this transfer alone shouldn’t be equated with “the government is about to dump.”
🔥 What really needs to be considered separately is the other roughly 1,200 BTC from FTX and HashFlare. Since victims may be compensated in cash, these coins are relatively more likely to be sold. Meanwhile, around 15,000 BTC related to Bitfinex claims moved within two days, which could also be preparation for a future distribution.
To be honest, if Bitfinex later receives the recovered assets, it has pledged to use at least 80% to buy back LEO. The article estimates that as many as 85,000 BTC could be involved over the next 18 months, averaging around 150 BTC per day. That’s the potential source of selling pressure worth paying closer attention to.
💡 Another issue is concerns about AI and crypto security. OpenAI announced 377 mathematical discoveries, some of which were verified by Lean, but there’s currently no evidence that elliptic-curve cryptography has been weakened. Justin Drake warned about the worst-case scenario, while Vitalik advised against moving funds immediately. Cryptography experts also see this as more of a precautionary discussion at this stage.
🤔 What do you think the market should be more concerned about right now: government transfers or a future Bitfinex distribution?
#BTC #Bitfinex #加密安全 #On-chainData
Around 12,267 BTC are related to the Bitfinex hack. Coinbase Prime has served as custodian for the U.S. Marshals Service since 2024, so this transfer alone shouldn’t be equated with “the government is about to dump.”
🔥 What really needs to be considered separately is the other roughly 1,200 BTC from FTX and HashFlare. Since victims may be compensated in cash, these coins are relatively more likely to be sold. Meanwhile, around 15,000 BTC related to Bitfinex claims moved within two days, which could also be preparation for a future distribution.
To be honest, if Bitfinex later receives the recovered assets, it has pledged to use at least 80% to buy back LEO. The article estimates that as many as 85,000 BTC could be involved over the next 18 months, averaging around 150 BTC per day. That’s the potential source of selling pressure worth paying closer attention to.
💡 Another issue is concerns about AI and crypto security. OpenAI announced 377 mathematical discoveries, some of which were verified by Lean, but there’s currently no evidence that elliptic-curve cryptography has been weakened. Justin Drake warned about the worst-case scenario, while Vitalik advised against moving funds immediately. Cryptography experts also see this as more of a precautionary discussion at this stage.
🤔 What do you think the market should be more concerned about right now: government transfers or a future Bitfinex distribution?
#BTC #Bitfinex #加密安全 #On-chainData