$1B of Bitcoin leaves Coinbase, Ethereum on the rise, and Sen. Elizabeth Warren’s election worries

Coinbase hits its lowest Bitcoin Holdings since 2015 but where are the Outflows Going good morning you're listening to The ryzen crypto podcast by coin Telegraph with me Robert bags stirring You through the crypto Cosmos with daily Dispatches from the digital Frontier if You want to stay ahead of the curve in Crypto all you need to do is click that Follow button grab yourself a coffee and Let's get into It today's episode contains a lot of Questions the first questions will be Contained in our daily Bitcoin update And they revolve around the sudden Outflows of Bitcoin from coinbase we Will then look at black Rock's new spot Bitcoin ETF ad why 2024 could be the Biggest year for the ethereum network And finally we'll look at Senator Elizabeth Warren rallying her donors Because of a republican crypto Enthusiast let's start with your morning Bitcoin update I'm enjoying these so I Hope it continues and yesterday there Were two stor involving Bitcoin that are Particularly worth hearing firstly Bitcoin Holdings on coinbase have Reached their lowest levels since 2015 That sentence in itself is eye-catching But it could indicate Myriad things so Let's unpack it according to a report by Crypto Quant Wales have moved 188,000

Bitcoin worth nearly $1 billion off of The coinbase Exchange over this weekend Now although this is a lot coinbase Isn't running dry the report reads Following this move coin coin bases Public order book now holds around 394,000 Bitcoins valued at more than $20.5 billion now there is a bit of a Division on how to interpret the Outflows some believe that this is a Bullish sign as it means that the Bitcoin isn't for sale and with the Harving coming up and the spot Bitcoin ETF still hoovering up Bitcoin on mass We're heading towards that Supply shock However some believe that the moved Funds are to be used for liquidity in Overthe counter trades that is trades Happening off exchanges the head of Research at crypto Quant Julio Moreno Posted on X yesterday about this and With a little bit more depth he wrote Largest hourly Bitcoin outflow in 2024 From coinbase today 18746 Bitcoin moved in two transactions At the same block however the Transactions have all the patterns that Would suggest one the Bitcoin is going Into custody input consolidation New Addresses being created with large Holdings of 866 or more Bitcoin or two It is just an internal wallet Reorganization the first option implies Institutions buying Bitcoin also most of

The coins transferred had not moved Since December 2018 so right now we Don't know for sure what the cause of These outflows on coinbase is but the Wilds are active and that's nothing if Not interesting the second Bitcoin Update is a little one but there's Something about it I rather like Black Rock has released another advert for Their spot Bitcoin ETF the I shares Bitcoin Trust IIT it's a minimalist Image of a yellow background with a Black silhouette of a Runway and a plane That says Bitcoin ETFs have landed then There is a sentence at the bottom that I Want to discuss but first I noticed that This ad is getting a lot of criticism I Mean I'm sure it's being absolutely Slammed by anti- crypto folk but Curiously a lot of people who are likely Crypto leaning thought it was another Dull ad like their first one back in January I disagree it's not that it Isn't simple it is but it's refined and It's targeting a certain audience to my Eye there is little Point advertising a Spot Bitcoin ETF to the Diehard crypto Crowd that is obviously not who they are Targeting so they're hardly going to be Using laser eyes and meme dogs in their Adverts I was pleased to see Eric balcon Of Bloomberg saying something similarly Positive about these ads he wrote on X New ibit ad just dropped IMO simple

Modern effective in Sweet Spot between Boring Legacy fund co- ad and hey fellow Kids type stuff strong advisor friendly Vibes Black Rock on the brink of pulling Away as the category liquidity King Going for the kill with more ads make Sense now balcon goes on to discuss the Tagline of this ad that I wanted to come Back to it reads get your share of Progress I don't want to overread this And it feels like almost bait to do so But black rock the world's largest asset Manager calling Bitcoin progress does Make me a bit tingly balcon wrote a more Considered evaluation of of that saying Interesting they equate Bitcoin not with A commodity or a currency but with Progress so what do you make of it share Your thoughts with us on @ cointelegraph And arcade bags on X yesterday L Tilla wrote one of my Favorite articles of the year so far it Was titled 2024 will be the ethereum Network's biggest year in history in it He outlines the problems that ethereum Has struggled with so far and why the Next ball cycle is going to be a Historic one for the ecosystem it's a Medium length read so I can't cover Everything in this podcast make sure you Give it a read it's linked in the Description below this episode but for Now I'll give you an overview and my Highlights ethereum is designed to be a

True ecosystem more than Bitcoin can or Wants to be as luk States ethereum is More aligned with the idea of a shared And programmable database or Decentralized application dap Development platform therefore for it to Have value valuable applications must Exist on it the next Bow Cycle will be The first since the merge which Drastically improved the Network's Efficiency and this year ethereum Improvement proposal 4844 is scheduled Which aims to make the entire ecosystem Of layer 2 blockchains built around Ethereum up to 10 times cheaper but why Hasn't there been more non web3 Organizations building on ethereum so Far and why haven't the ones who have Maintained it legui believes that people Don't naturally turn to blockchain to Solve problems yet even the ones that Blockchain is basically designed to fix And the argu aru that this is because There has been a lack of infrastructure And guidance so far L argues that we are Now in a more mature mindset when it Comes to building on chain and can offer That necessary guidance to builders one Example of this that has really come to Fruition in the last year or so is chain Development kits L mentions one of the Ecosystems we've discussed before and It's probably the best example of this Polygon polygon aims to allow companies

To create their own specialist Purpose-built blockchain and other Layer Two blockchains are following suit Polygon has announced many onboarded Organizations to their chain development Kit including fire drops a chain Designed for loyalty actions on flip Cart which is India's largest e-commerce Platform hyper a chain for gaming and B2 A chain for building rollups for Bitcoin I might be stepping away from leg's Points here but what excites me about This piece is the substance of the Future I believe that part of why Blockchain didn't stick for a lot of Companies after the last bull cycle is An extension of the lack of guidance Most of the companies dipping their toes Weren't creating solutions they were Creating fluff and window dressing this Time around perhaps we will see true Integration of the technology into Systems and processes which will be far Stickier I've discussed Senator Elizabeth Warren many times in the past Few months as she has pushed her digital Asset anti-money laundering act daml the Senator has rolled out many allegations Against crypto many of which are Contentious as research does not Indicate the same conclusion that she Found in a recent interview with pod Save America John favro Barack Obama's Former speech writer discusses crypto

With Senator Warren and she says there Are all these gaps in the system when it Comes to crypto and the consequence of That is that crypto has become the place To go for drug traffickers the human Traffickers the Rogue Nations the Terrorists however Senator Warren has Also suggested that there is a potential Attack on hers and representative Katy Porter's 2024 campaigns and it's by a Republican crypto Enthusiast who could Be funded by corporate money connected To crypto supporters favro said your Push to regulate crypto has seemingly Attracted a potential Challenger to you In your Senate race adding that that Could mean a flood of money from crypto Super packs political action committees Like the one attacking KT Porter here in California's Senate race now Turner Wright believes that favro is likely Referring to Fair shake a super pack Backed by the likes of Ripple and Coinbase which released an ad this month Claiming that Porter took campaign Contributions from and quote big farmer Big oil and the big Bank Executives now This Challenger to Elizabeth Warren the Republican crypto Enthusiast is believed To be John E Deon a lawyer and Long-standing crypto Advocate that we Have quoted several times on this Podcast before and the source of it Being Deon is a report by the Boston

Globe after Turner's article went live Yesterday about that interview Ellena Terret a journalist at Fox Business Posted on X a screenshot from a source Of what is allegedly an email from Senator Warren rallying being her donor Basee it reads new reporting from the Boston Globe indicates I officially have A republican Challenger considering Running against me for Senate in Massachusetts a guy who recently moved Here is prepared to Kickstart his Campaign with $500,000 of his own money And has been a big cheerleader for Crypto interests ever since I began Speaking out about protecting consumers From crypto scams and making that Industry follow the same basic Regulations as Banks and all other Financial institutions the crypto Lobby Has put a Target on my back and we know That the GOP will do anything they can To take Democrats Senate majority away So this email ends with a short Paragraph that has really stuck in my Head it reads look I'm not afraid but This now means we need to prepare to Compete against funding from powerful Special interests Wall Street and the GOP so can you please Rush a donation of $28 or anything you can to my reelection Campaign so I can keep fighting in the Senate I think what really stuck with me Is the look I'm not afraid it really

Does feel like antiphrasis so far However John Eon has not confirmed or Denied whether he is going to run but Senator Elizabeth Warren is being Proactive either way lots of little Mysteries for us to solve today both on And offchain but that is your daily Debrief done so consider yourself Informed thank you for listening to the Risen crypto podcast by coin Telegraph If you're enjoying these daily updates Please make sure you let us know by Following subscribing or leaving a Review as always if you have any Thoughts hit us up on X on @ coin Telegraph and arcb bags but please find A way of standing out from the Bots Because it's getting harder and harder To sift through it okay have a great day Let's do this again [Music] Tomorrow


Coinbase is a popular cryptocurrency exchange. It makes it easy to buy, sell, and exchange cryptocurrencies like Bitcoin. Coinbase also has a brokerage service that makes it easy to buy Bitcoin as easily as buying stocks through an online broker. However, Coinbase can be expensive due to the fees it charges and its poor customer service.

Leave a Comment

    • bitcoinBitcoin (BTC) $ 67,264.00 5.72%
    • ethereumEthereum (ETH) $ 3,522.32 3.24%
    • tetherTether (USDT) $ 1.00 0.15%
    • bnbBNB (BNB) $ 594.11 4.49%
    • solanaSolana (SOL) $ 170.41 8.26%
    • staked-etherLido Staked Ether (STETH) $ 3,521.88 3.18%
    • usd-coinUSDC (USDC) $ 1.00 0.02%
    • xrpXRP (XRP) $ 0.579311 1.72%
    • the-open-networkToncoin (TON) $ 7.28 0.53%
    • dogecoinDogecoin (DOGE) $ 0.125709 6.16%