Chain News by Thebittimes.Com

Back in June, proof-of-reserves for Justin Sun-owned HTX revealed a roughly-700 million drop in the quantity of TRX held at the exchange. At today’s prices, these 700 million tokens are worth about $238 million. A substantial portion of these assets ended up flowing into an address that supports Sun-owned Poloniex’s Super Representative, while some went to Binance. Large drop in HTX TRX in June PoR . Since then, HTX has been sanctioned by the European Union and the United Kingdom Foreign, Commonwealth & Development Office, making the location of HTX funds extraordinarily important. Additionally, in the same proof-of-reserves where it disclosed the drop in TRX, it also reduced its disclosure for over $1 billion worth of other assets, now pointing towards an undisclosed “ThirdParty” custodian. Protos was previously able to track a large portion of HTX’s Ethereum reserves to Poloniex. Is Justin Sun mixing HTX’s res...

As the AI hype train rumbles on, venture capitalists and private equity are pouring more and more money into sillier and sillier ideas. Recently, Starcloud, a data centers-in-space company, has received nearly half a billion dollars in funding and over a $2 billion valuation for an idea that already seems almost impossible to execute — and it just made it even stupider. Starcloud has decided to begin mining BTC in space. Whether you like Bitcoin or hate it, this is crazy. One of the most important aspects of BTC mining has been, and always will be, the ability to obtain the cheapest energy for running miners. Sometimes this means that mining companies will completely abandon previously profitable locations for new locations, sometimes it will mean replacing every miner they’re currently running, and occasionally it means completely altering the type of energy being utilized (instead of solar, resorting to coal or natural gas, using hydro or wind instead of c...

After months of decline, August offered a glimpse that the cryptocurrency bear market might be at its end, as rising digital asset prices led to a large increase in the number of addresses holding more than $1 million worth of Bitcoin (BTC). Specifically, data compiled by Finbold and retrieved from BitInfoCharts , as well as from the same source using the Wayback Machine , shows that, in late July, there was a total of 111,846 addresses with more than $1 million worth of BTC. At press time on August 31, there are 123,482 such wallets, meaning there has been a 10.4% increase – 11,636 new Bitcoin millionaires. This increase was also visible among the larger whales. Late last month, the number of addresses with more than $10 million worth of the cryptocurrency stood at 14,009 and, at the tail end of August, it is at 15,584. Under the circumstances, the number of such Bitcoin multi-millionaires rose by 1,575 – a 11.24% increase.  Bitcoin millionair...

Strategy, Michael Saylor’s BTC holding company, has been under a lot of pressure, with shares plummeting 73% since July of last year. However, more importantly, one of Strategy’s dividend instruments, STRC, which pays twice-monthly dividends on $100/share of par value, fell from parity on May 15 and has never returned. That’s almost 100 days without being able to bring the preferred shares back to parity — and it’s a problem. Trying to dig itself out of a hole Despite Saylor, Strategy’s founder and executive chairman, making vague promises that no BTC would be sold (which he later clarified was in relation to his personal stash, not the BTC owned by Strategy), the company has sold almost 7,000 BTC worth nearly half a billion US dollars since June. These sales have been used to prop up Strategy’s dollar reserves so they can ensure dividends to its preferred share holders. Strategy has sold nearly 7,000 BTC in 2026 Read more: Strive b...

Ripple’s native token XRP is down close to 20% in a month. The downturn indicates that the bull run could be over as its price is on a slippery slope. While bulls were expecting the leading altcoin to breach the $4 mark, it now looks like it could fall below the $2 range. Investors are skeptical of taking an entry position, believing that the altcoin is yet to bottom out in price. Also Read: AI Models Reveal How Ripple May Surpass Rival Cryptos Will XRP Rise Again? Source: Coin Edition Yes, XRP will rise again, and that’s the way the market functions in a cyclic manner. The rise, fall, and sideways trading is the norm, but the million-dollar question is, how long will it last? Nobody, not even a seasoned investor, can crack the market timing, as it’s the only thing that cannot be tamed or controlled. Also Read: Canary Capital Sets Nov. 13 Launch for XRP ETF After SEC Shift Leading on-chain metrics and price prediction firm Wallet Investor has painted a bearish picture ...

XRP is crashing today and has dropped all the way down to $2.44—which is actually its lowest level since October 24 and represents a really steep 35% decline from the yearly highs. The crash has wiped out billions from XRP’s $157 billion market cap, and traders are now desperately trying to figure out why XRP is crashing, when the rebound will actually start, and also how high XRP can go once the recovery finally begins. Also Read: XRP Hits $9,000 for Seconds: Here’s the Truth XRP Price Prediction, Rebound Timeline, and Why XRP Is Crashing Source: Forbes / Getty Images Why XRP Is Crashing—Fed Decision and Whale Selling XRP crashing today comes right after the Federal Reserve cut rates by 0.25% along with their announcement that quantitative tightening will end in December. Donald Trump’s APEC meeting with Xi Jinping also went pretty well and produced some positive outcomes, but the thing is traders had already priced these developments into the markets. Right now, traders ar...