Koinbulteni

According to a new report published by River, a Bitcoin technology and financial services firm, some US-based companies will increase their investments in Bitcoin in the next 18 months.

The report states that approximately 10% of US-based companies are expected to convert about 1.5% of their treasury reserves, or approximately 10.35 billion dollars, into Bitcoin.

River analysts emphasized that traditional corporate treasury strategies are based on cash and short-term cash equivalents, but they are weak as a store of value. According to the analysis, while these investments can provide a return close to the federal fund rate, they often fail to surpass inflation, thereby diminishing the value of the treasury.

The report also noted that Apple's treasury assets lost $15 billion due to inflation over the past 10 years.

MicroStrategy's treasury strategy

This analysis points to the increasing adoption of the corporate treasury strategy popularized by MicroStrategy founder Michael Saylor. In June 2024, MicroStrategy completed the sale of an additional $800 million in bonds with a maturity date of 2032 and an interest rate of 2.25%. The company used these funds to purchase an additional 11,931 BTC.

Saylor defines Bitcoin as an asset that guarantees 'economic immortality' to companies due to its limited supply and absence of counterparty risk compared to other store of value assets. MicroStrategy currently holds 226,500 BTC, with a total value of these assets being 14.7 billion dollars.

Superior performance compared to Warren Buffett

Saylor's Bitcoin treasury strategy has resulted in a more than 1,000% increase compared to MicroStrategy's Berkshire Hathaway. During the same period, Berkshire Hathaway shares increased by 104.75%. Buffett, however, refused to include Bitcoin in his portfolio or recommend it as a hedge against inflation.

Bitcoin, which continued September with declines, faced selling pressure from whales.

According to data transferred by the on-chain analysis platform Lookonchain, Bitcoin whales increased selling pressure as the price declined.

When a whale approaches the entry point, it sells 100 BTC shares worth $5.35 million with a profit of $206,000.

It revealed that 402,800 BTC worth 21 billion dollars were purchased at a price between 51,113 and 54,303 dollars for 836,000 addresses.

Analysts reported that hundreds of thousands of investors may choose to sell, taking into account the risk of loss as they are at the price entry point.

According to CoinGecko data, Bitcoin, which lost 3% in the last 24 hours, is currently trading at $53,124.

The big cryptocurrency whale selling 6 altcoins and focusing on one caught the attention of the radar.

According to data transferred by Lookonchain, an on-chain analysis platform, a whale with $2 million worth of cryptocurrency took action for NEIRO on September 4th.

The whale bought 3.9 million NEIRO worth of 276 thousand dollars in the last 2 days.

To make these purchases, they sold 19.7 Ethereum (ETH) worth $48,000, 695 Banana (BANANA) worth $25,000, 180 million FLOKI worth $21,000, 4,600 Render (RNDR) worth $21,000, 12,000 FET worth $13,000, and 700 million Pepe (PEPE) worth $5,000.

NEIRO, based on Ethereum, reached its all-time high of $0.29 on August 7th. Then it experienced a significant drop, falling to $0.02.

According to CoinGecko data, NEIRO, which has shown a 20% increase in the last 24 hours, is currently trading at $0.0755.

Venezuelan opposition leader María Corina Machado highlighted the critical role of Bitcoin in Venezuela's economic collapse and its struggle against the authoritarian regime.

Machado pointed out that under the administrations of Chávez and Maduro, the bolívar lost 14 zeros and reached an inflation level of 1.7 million percent in 2018. She summarized the economic devastation as, "This financial pressure, based on state-supported looting, theft, and uncontrolled money printing, has paralyzed the economy despite Venezuela's vast oil wealth."

Bitcoin saves lives

Gladstein highlighted that some Venezuelans are turning to Bitcoin to protect their wealth and fund their escape from the country. Machado called Bitcoin a "lifesaver" for Venezuelans and said Bitcoin plays a critical role as a way to circumvent government-controlled exchange rates. He also proposed the inclusion of Bitcoin in national reserves in the process of recovering Venezuela's stolen wealth and post-dictatorship reconstruction.

Machado said, "Bitcoin allows us to surpass the government-imposed exchange rates and helps many of our people... Bitcoin has evolved from a humane tool to a vital tool of resistance."

Machado also mentioned the determination of Venezuelans to regain democracy, praising their historic struggle against the regime. She highlighted the importance of technologies like Bitcoin in providing financial autonomy and rebuilding Venezuela.

Machado, expressing that Bitcoin will play an important role in ensuring transparency, property rights, and economic freedom in Venezuela's recovery plan, said, 'We see Bitcoin as part of our national reserves in the way of reclaiming what the dictatorship has stolen'.

Vitalik Buterin, the founder of Ethereum (ETH), has answered one of the most curious questions of the crypto community.

Vitalik Buterin has been criticized for sending ETH and other tokens to various platforms like exchanges. The crypto community suspected that Buterin was selling them for personal profit.

Response from Ethereum founder

Vitalik Buterin responded to a comment about selling ETH in his wallet, saying, “I have not sold since 2018 and have not held onto the income I have earned. All of my sales have been made to support projects within the Ethereum ecosystem or more broadly beneficial projects (such as biomedical R&D) that I find valuable.”

No investment plan in the near future

Vitalik Buterin noted that this applies not only to ETH but also to other tokens in your wallet. The founder of Ethereum recently sent some Layer-2 tokens to different addresses.

Buterin, “The same situation applies to the L2 tokens I hold or other project tokens that are not yet liquid: all the income to be generated will be donated to public benefit projects in the Ethereum ecosystem or for broader charitable purposes (e.g., biomedical R&D),” he said.

The founder of Ethereum also said, "I have no intention of investing in L2 or other token projects in the near future. My aim is to provide financial support to projects that I find valuable in areas that I think other parts of the ecosystem do not value enough. From now on, I plan to do this only through donations."

The founder of Telegram, who was arrested and released in France, spoke for the first time.

Telegram CEO Pavel Durov made his first statement after the four-day interrogation process in France. In his statement, he mentioned that French officials questioned him about third-party crimes committed on Telegram.

He conveyed that this situation cannot be resolved by laws from the pre-internet era and that he should not be held responsible for the crimes committed by others.

Durov stated that France detained him for these crimes because they could not get a response from Telegram, but in essence, he pointed out that there are dozens of ways to reach Telegram and himself:

If a country is not satisfied with an internet service, the established application is to initiate legal action against the service itself. It is a wrong approach to accuse a CEO on the platform he manages using laws from the pre-smartphone era of crimes committed by third parties. Building technology is already hard enough. If no innovator knows that they could be personally responsible for the potential misuse of these tools, they will never build new tools.

Former US President Donald Trump reiterated his promise to make the US the capital of the cryptocurrency world if he returns to the presidency.

Trump said, 'Instead of attacking future industries, we will embrace them, including making America the capital of crypto and Bitcoin.' Trump is said to be able to take on the role of 'chief crypto advocate' in a crypto project called 'World Liberty Finance' connected to his family.

US may compete with China for cryptocurrency

In his approximately one-hour speech, Trump stated that if re-elected, he aims to restructure the US economy, emphasizing plans to reduce regulations and increase domestic energy production. Trump said, 'In my second term, I will launch a historic campaign to eliminate regulations that restrict our economy,' and he stated that for every new regulation, at least ten regulations would be removed.

Trump emphasized the need for more electricity for the growth of the artificial intelligence sector and the ability of the US technology industry to compete with China, and added that if elected, he would declare a national emergency to increase domestic energy production. "With these broad powers, we will get quick approvals for new drilling, pipelines, refineries, power plants, and reactors. With the expectation that we can create this large supply quickly, prices will drop immediately and we will lead, not the rest," he said.

The US Federal Reserve (Fed) sent a warning letter to United Texas Bank, which has connections to the cryptocurrency sector.

According to the statement made by the Fed, it was determined that there are "serious deficiencies" in the bank's relationship with its customers, including crypto users, and in risk management.

The Fed began reviewing United Texas Bank in May 2023 and found a lack of oversight in the bank's board of directors and senior management.

Fed stated, "The examination revealed significant deficiencies, particularly in compliance with foreign banking and virtual currency customers, especially in the areas of risk management and anti-money laundering ("AML") laws, rules, and regulations."

After these reviews, United Texas Bank took steps to strengthen the Bank Secrecy Act (BSA) and anti-money laundering program.

It was stated that the board of directors needs to prepare a plan that strengthens compliance with BSA/AML requirements and makes changes to the customer due diligence program.

Was working with cryptocurrency companies.

Texas Bank had previously worked with Stellar Foundation and Circle's USDC. In 2021, MoneyGram partnered with Stellar to enable users to receive crypto payments in their local currencies.

MoneyGram network has been integrated into the Stellar blockchain for USDC transactions, with United Texas Bank serving as a settlement bank between Circle and MoneyGram.

Bitcoin and altcoins: General market overview (September 5)

• Bitcoin is trading at $57,142 with a 1.5% increase, and against the Turkish lira, it is trading at 1,928,903 TL.
• Ethereum (ETH) is trading around 2,405, with a 1.5% increase, while BNB (BNB) is down 1% at 504, Ripple (XRP) is trading around 0.552, with a 0.3% increase, Dogecoin (DOGE) is trading around 0.09706, with a 2.1% increase, Toncoin (TON) is down 4.4% at 4.57, and Solana (SOL) is trading around $132 with a 3.7% increase.
• Injective (INJ) became the top gainer altcoin with a 10.1% rise in the last 24 hours, while Toncoin (TON) became the altcoin with the largest price decrease of 4.4%.
• Injective (INJ) trades at $17.13, while Toncoin (TON) trades at $4.57.
• The dollar index (DXY) is trading at 103.15 level.
• While the market value of Bitcoin is around $1.12 trillion, the total value of the cryptocurrency market is at $2.09 trillion levels.
• The volume of the crypto currency market for 24 hours is around 80 billion dollars.
• Dollar/TL is at 34.07 level with a 0.2% increase, while Euro/TL parity is at 37.68 level with a 0.3% increase.
• More than 36,000 cryptocurrency investors were affected as $89 million was liquidated from the cryptocurrency market in the last 24-hour period. 59.31%* of the positions being liquidated are short positions, with the majority of the liquidation occurring in Bitcoin (BTC).

More details have emerged about US presidential candidate Donald Trump's cryptocurrency project World Liberty Financial.

New details have emerged about the crypto project World Liberty Financial associated with Donald Trump. According to CoinDesk, this project is being developed based on the DeFi protocol named Dough Finance.

The project is said to be built on the decentralized finance platform Aave and the Ethereum blockchain and will be shaped around a "credit account system".

Details of this project, which was announced at the end of August and initially called 'The DeFiant Ones', have been quite limited until now. However, according to the Github codes reached by CoinDesk and later deleted, it was stated that the Trump family played an active role in this project.

It was reported that especially Donald Trump Jr., Eric Trump, and 18-year-old Barron Trump were involved in the planning stages of the project.

Although the project is inspired by Dough Finance, it has not yet been confirmed whether the official product will use Dough Finance's code base. In addition, the project team emphasized the planned issuance of WLFI, a 'non-transferable' governance token.

Interestingly, CoinDesk reported that Zachary Folkman and Chase Herro, the founders of Dough Finance, are leading the operations and strategy units at World Liberty Financial. It was also noted that Dough Finance was hit by a $1.8 million flash loan attack in July.

Members of the Trump family warned the public about potential scams related to the project and stated that official announcements would only be made through personal and professional channels. Initially skeptical of cryptocurrencies, Donald Trump is said to have embraced the industry over time and gained the support of many important figures in the crypto world.

The U.S. Securities and Exchange Commission (SEC) has accused crypto-focused investment advisory firm Galois Capital of problems related to the way it holds client assets and subsequently reached a settlement.

According to the SEC's statement, the allegations were primarily related to a private fund investing in cryptocurrency. Corey Schuster, co-head of the Asset Management Unit of the SEC Enforcement Division, said, “Galois Capital caused the fund's assets, especially cryptocurrency assets, to be exposed to the risks of loss, misuse, or misappropriation by not complying with the Custody Rule provisions.” Schuster added, “We will continue to hold advisers accountable for violating investor protection obligations.”

FTX scandal engulfed

Miami-based Galois Capital did not ensure that certain crypto assets held by a private fund it advised have been held by a 'qualified custodian' from July 2022. The SEC stated that Galois held these assets on crypto platforms such as FTX Trading LTD., which are not qualified custodians.

Galois Capital was heavily affected by FTX's sudden collapse a few years ago. FTX filed for bankruptcy protection in November 2022 and top executives, including former CEO Sam Bankman-Fried, faced criminal charges. According to the SEC, approximately half of Galois' assets under management were lost within a few weeks in November 2022 following FTX's collapse. The firm closed in February 2023.

He did not accept the accusations

Galois did not accept or deny the findings of the SEC, but agreed to avoid future violations of the Investment Advisers Act and agreed to pay a fine of $225,000.

The SEC also stated that Galois misled its fund investors about the "notice period required to meet the demands." Galois Capital Alpha Fund LP required investors to provide written notice 30 days in advance in order to withdraw their funds, but some investors were allowed to withdraw with a shorter notice period.

SEC added that this situation is misleading due to the privileges provided by Galois to certain investors.

Exchange-traded Bitcoin (BTC) exchange-traded funds (ETFs) on the US stock market had a tough day on Monday as growth concerns and selling pressure on Nvidia (NVDA) shares negatively impacted market sentiment.

According to Farside Investors data, 11 ETFs experienced a total net outflow of $287.8 million. This was recorded as the largest single-day outflow since May 1, when the funds suffered losses of over $500 million.

Fidelity's FBTC fund led these outflows with a withdrawal of $162.3 million. Grayscale's GBTC fund experienced an outflow of $50.4 million, while BITB and ARK suffered losses of $25 million and $33.6 million, respectively. Other funds made up the remaining outflow amount. BlackRock's IBIT fund closed with zero withdrawal for the second consecutive trading day.

Data from the USA has influenced

On Tuesday, Bitcoin's price fell more than 2.7% to $57,500, reversing the recovery seen on Monday. This decline followed the release of the US ISM manufacturing PMI data, which came in below 50, indicating continued contraction in activities in August. The data revived fears of economic slowdown and exerted pressure on risky assets, including cryptocurrencies.

Crypto OTC liquidity network Paradigm said, 'The lack in Manufacturing PMI triggered sales fears of economic slowdown led by a 9.54% decline in Nvidia.'

Bitcoin further declined in value on Wednesday morning, falling to $56,277.

Bitcoin, which lost 6% of its value in the last 24 hours, dropping to $55,746, caught attention for the reason behind the decline.

Bitcoin had a bad start to September. The declines in the crypto currency market were followed by major losses in the US and Asia stock markets.

Analysts who predicted a negative September days ago are now proving to be right with a worrisome abundance of reasons behind the decline.

Nvidia's scrutiny hits artificial intelligence altcoins

According to a Bloomberg report, the US Department of Justice has issued subpoenas to Nvidia Corp. and other companies as it seeks evidence that the chip manufacturer has violated antitrust laws. This has led to an escalation of the investigation into the dominant provider of artificial intelligence processors.

This movement caused a sharp decline in the Nasdaq market and also led to a decline in the cryptocurrency market. In particular, artificial intelligence-focused altcoin projects such as Render (RNDR), NEAR Protocol (NEAR), and The Graph (GRT) experienced losses of over 10%.

Japan and US influence continues

Japan, which has previously been the trigger for significant declines in Bitcoin and altcoins, has started to strain the market again with its recent statements about interest rate hikes.

On the other hand, it is thought that the non-farm payroll data to be announced by the US on Friday, September 6, has escalated tension in the market.

US stocks Nasdaq 100 and S&P 500 fell as much as 3.5% during this historically weak period in September. Japan's Nikkei index also lost more than 4%.

This situation stemmed from the renewed concerns about economic slowdown triggered by weak manufacturing data in the United States.

Bitcoin and altcoins: General market overview (September 4)

• Bitcoin is trading at $56,344 with a 4.5% increase, and against the Turkish lira, it is trading at TRY 1,977,903.
• Ethereum (ETH) is around 2,513, with a decrease of 5.8%, BNB (BNB) is around 509, with an increase of 4.5%, Ripple (XRP) is around 0.551, with a decrease of 2.6%, Dogecoin (DOGE) is around 0.09508, with a decrease of 4.3%, Toncoin (TON) is around 4.79, with a decrease of 8.7%, Solana (SOL) is around $127 with a decrease of 5.1%. *Bitcoin SV (BSV) became the altcoin with the highest increase with a 2.5% rise in the last 24 hours, while Brett (BRETT) became the altcoin with the highest decrease with a 10.3% drop in price.
• Bitcoin SV (BSV) trades at 44.9 dollars while Brett (BRETT) trades at 0.0681 dollars.
• The dollar index (DXY) is trading at 103.15 level.
• While the market value of Bitcoin is around $1.11 trillion, the total value of the cryptocurrency market is at $2.06 trillion levels.
• The volume of the 24-hour cryptocurrency market is around 67 billion dollars.
• Dollar/TL is at 33.77 with a 0.2% increase, while the Euro/TL parity is at 37.44 with a 0.08% increase. *In the last 24-hour period, 197 million dollars were liquidated from the cryptocurrency market, affecting more than 74,000 cryptocurrency investors.
• When liquidating positions, 87% of them are long positions, with the most liquidation occurring in Bitcoin (BTC).