$668 Billion in Bitcoin Now Controlled by Institutions, Is Crypto Still Decen...

Fig: DG Treasury Growth Chart measured in USD value. The treasury has grown exponentially since its inception in Dec 2020 contributed by the profit growth and the appreciation of the assets. The downward trend in May is driven by the downswing of the crypto market. Decentral Games ($DG) has ambitious plans to disrupt the $230B […]

Massive sell-offs from institutions appear to have been the driving force behind the drop in Bitcoin price since May, according to an analyst from Arcane Research. Since May 10, as much as 236,237 Bitcoin (worth $5.452 billion) has been sold by “large institutions” — mostly as a result of forced selling. A Twitter thread from Arcane Research analyst Vetle Lunde details how and when many institutional Bitcoin holders began selling their stacks. Lunde stated that “it all started with Do Kwon.” The Luna Foundation Guard (LFG), which controlled funds for the Terra project, dumped 80,081 BTC in....

JPMorgan Chase CEO Jamie Dimon said in a U.S. congressional hearing that crypto tokens, like bitcoin, are “decentralized Ponzi schemes.” He told lawmakers: “I’m a major skeptic on crypto tokens which you call currency.” JPMorgan CEO Jamie Dimon Calls Crypto Ponzi Schemes Jamie Dimon, the CEO of JPMorgan Chase & Co., shared his view about cryptocurrencies, naming bitcoin in particular, in a congressional hearing Wednesday. Responding to a question by Representative Josh Gottheimer (D-NJ) about the rapid development of digital assets,....

The Russian Ministry of Finance, known for its disdain and intent to criminalize bitcoin activity, is considering the issuance of a state-controlled cryptocurrency in discussions with banks and regulators. The idea of a state-controlled cryptocurrency in Russia is currently being deliberated in meetings between the Russian Ministry of Finance, the Central Bank of Russia and representatives from other banks. Paul Livadniy, deputy director of the Federal Financial Monitoring Service in Russia, also known as Rosfinmonitoring, revealed that while no draft laws for a state-issued cryptocurrency....

Authorities expect to collect more than $13 billion as tax payments from the crypto market in Russia, according to a government document quoted by media. The estimate comes as Russian institutions are holding discussions on the future of cryptocurrencies in the country. One Trillion Rubles to Enter State Coffers in Russia as Crypto Taxes, Analysts Say While ministries and regulators are debating over Russia’s future crypto policy, a document leaked to the press has provided details about the conversations. Sources recently quoted by Bloomberg revealed that, according to an estimate....