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🌙 Silk Road Bitcoin, Goldman’s Crypto Bet

The U.S. government moves $600 million in seized Silk Road Bitcoin, Goldman Sachs reveals $400 million in Bitcoin ETFs, and MetaMask launches a blockchain-based debit card with Mastercard.

Author

Mike Gavela
August 14, 2024

Crypto Roundup - August 13

In a significant movement of assets, the U.S. government transferred nearly $600 million worth of Bitcoin, seized from the Silk Road case, to Coinbase wallets. This action follows a broader trend of liquidating seized crypto assets. Simultaneously, Goldman Sachs has disclosed its substantial investment in Bitcoin ETFs, holding over $400 million, which highlights the growing institutional adoption of cryptocurrency as a mainstream asset class. Additionally, MetaMask, a leading Ethereum wallet, has begun rolling out a blockchain-based debit card developed in partnership with Mastercard and Baanx. This innovative product allows users to spend their crypto directly, bridging the gap between traditional finance and the digital asset economy.

Top Stories:

  • Crypto wallet holding $2B Mt. Gox Bitcoin sends a test transaction during the distribution process, sparking market speculation.

  • Bitcoin ETFs are on pace to hold more BTC than Satoshi Nakamoto's mined total, reflecting increased institutional adoption.

  • Bitcoin miner Hut 8 reports a $19.2 million net loss in Q2, illustrating the financial difficulties within the mining sector.

TOP STORIES

Nearly $600 million in seized Silk Road bitcoin sent to Coinbase wallet: Arkham

The bitcoin appears to be part of approximately $2 billion worth of BTC the U.S. Department of Justice seized in the Silk Road case.

www.theblock.co/post/311214/nearly-600-million-in-seized-silk-road-bitcoin-sent-to-coinbase-wallet-arkham

Goldman Sachs Holds Over $400M in Bitcoin ETFs

The investment bank says it owns over $400 million in bitcoin ETFs, according to a recently filed 13F.

www.coindesk.com/markets/2024/08/14/goldman-sachs-holds-over-400m-in-bitcoin-etfs

MetaMask Starts Rollout of Blockchain-Based Debit Card Developed With Mastercard, Baanx

The new offering will allow MetaMask users to purchase directly from their self-custodial crypto wallet.

www.coindesk.com/business/2024/08/14/metamask-starts-rollout-of-blockchain-based-debit-card-developed-with-mastercard-baanx

FUNDRAISING

Rivalz Network Secures $9 Million to Advance AI Intel Infrastructure

Rivalz Network, aims to transform the AI landscape by introducing the first AI Intel Layer, has raised $9 million in recent funding rounds. This funding marks a pivotal moment for Rivalz as it continues to innovate in AI data and decentralized infrastructure.

www.theblock.co/post/310025/rivalz-network-secures-9-million-to-advance-ai-intel-infrastructure

OTHER HEADLINES

Coinbase Promotes cbBTC, Wrapped Bitcoin Alternative for Base Blockchain

Tweets from the crypto exchange and Jesse Pollak, the creator of Base, suggest cbBTC could run on the layer-2 blockchain.

www.coindesk.com/business/2024/08/14/coinbase-promotes-cbbtc-wrapped-bitcoin-version-for-base-blockchain

EigenLayer Introduces Permissionless Token Support - "The Defiant"

EigenLayer, the largest restaking platform by total value locked (TVL), is introducing permissionless token listing, which will enable any ERC-20 token to be implemented as a restakable asset.

thedefiant.io/news/defi/eigenlayer-introduces-permissionless-token-support

How high will Solana go? Four experts say this will drive the price

Solana has outperformed its major rivals this year yet it is still well off its peak price but experts say not for long.

www.dlnews.com/articles/markets/four-experts-on-how-high-solana-price-will-go-after-sol-rebound

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