entities – Earlybirds Invest

entities – Earlybirds Invest https://earlybirdsinvest.com Latest Crypto News Fri, 13 Jun 2025 22:22:19 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.7 https://i0.wp.com/earlybirdsinvest.com/wp-content/uploads/2024/12/cropped-New-Project-2024-12-17T235703.455.png?fit=32%2C32&ssl=1 entities – Earlybirds Invest https://earlybirdsinvest.com 32 32 240146708 Tornado Cash support: Ethereum Foundation pledges $1M to Storm’s defense, entities boost Pertsev appeal https://earlybirdsinvest.com/tornado-cash-support-ethereum-foundation-pledges-1m-to-storms-defense-entities-boost-pertsev-appeal/ https://earlybirdsinvest.com/tornado-cash-support-ethereum-foundation-pledges-1m-to-storms-defense-entities-boost-pertsev-appeal/#respond Fri, 13 Jun 2025 22:22:19 +0000 https://earlybirdsinvest.com/tornado-cash-support-ethereum-foundation-pledges-1m-to-storms-defense-entities-boost-pertsev-appeal/

Tornado Cash developers Roman Storm and Alexey Pertsev received renewed support from the crypto community on their respective trials for deploying the open-source code behind the mixer.

The Ethereum Foundation on June 12 donated $500,000 to Tornado Cash developer Roman Storm’s legal defense. It said it will match another $750,000 from public contributors as the US money laundering case approaches trial.

Storm acknowledged the pledge minutes later on X, describing it as critical to “standing up for privacy and the right to code.” The new commitment follows a $1.25 million grant from venture firm Paradigm earlier this year and brings total community-raised backing for Stormto roughly $3 million.

The Tornado Cash developer currently remains on $2 million bail in Washington state. Prosecutors arrested him on August 23, 2023, and charged him with conspiring to launder more than $1 billion in crypto, including funds moved by North Korea’s Lazarus Group.

A federal judge has kept the July 14, 2025, jury date on the calendar.

Advocacy groups file brief for Pertsev

In the Netherlands, Coin Center and the DeFi Education Fund lodged an amicus brief supporting Tornado Cash coder Alexey Pertsev’s appeal of his money laundering conviction. The filing argues that immutable smart contract code is a neutral tool and that holding developers liable would chill open-source innovation.

Pertsev’s case already drew a $1.25 million Ethereum Foundation grant on February 26 that carried the same “privacy is normal, and writing code is not a crime” message seen in Storm’s funding drive.

Dutch agents arrested Pertsev in Amsterdam on August 10, 2022, two days after the US Treasury sanctioned Tornado Cash.

Judges tried him on March 25 and 26, 2024, and sentenced him to 64 months for facilitating the laundering of roughly $1.2 billion on May 14. He left prison under electronic monitoring on February 7, 2025, while his appeal proceeds in s-Hertogenbosch.

OFAC delisted Tornado Cash smart contract addresses on March 21 after an appeals court ruled the immutable code could not be sanctioned as property. The removal eased token restrictions but did not end the parallel criminal cases against the developers.

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These Crypto Entities Will Be the Largest Holders of US Treasuries in the World, According to Senator Hagerty https://earlybirdsinvest.com/these-crypto-entities-will-be-the-largest-holders-of-us-treasuries-in-the-world-according-to-senator-hagerty/ https://earlybirdsinvest.com/these-crypto-entities-will-be-the-largest-holders-of-us-treasuries-in-the-world-according-to-senator-hagerty/#respond Wed, 21 May 2025 10:19:09 +0000 https://earlybirdsinvest.com/these-crypto-entities-will-be-the-largest-holders-of-us-treasuries-in-the-world-according-to-senator-hagerty/

Senator Bill Hagerty (R-TN) says that one segment of the crypto industry will likely become the largest holders of US Treasuries.

In a new interview on CNBC Television, Hagerty says stablecoin issuers will likely purchase massive amounts of US Treasuries as reserve funds to ensure the digital assets remain pegged to the dollar.

Says Hagerty,

“Stablecoin issuers will be the largest holders of US Treasuries in the world.”

Hagerty introduced the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, which aims to establish federal regulations around the use of stablecoins. The bill is currently being debated by Congress.

Asked what will back stablecoins, Hagerty says,

“It’s not going to be equities. It’s going to be high quality short-term assets, either short-term US Treasuries or cash. I think the majority of it will be US Treasuries.”

On Monday, Hagerty celebrated the bill moving closer to becoming law.

“Tonight, the Senate moved forward on the GENIUS Act. This groundbreaking, bipartisan legislation will bring America’s payment system into the 21st century. The GENIUS Act skyrockets the United States with a digital payment framework with the fastest rails possible. It will ensure US dollar dominance. Customers will be protected, the demand for US Treasuries will balloon to the tune of more than $1 trillion, and innovation in the digital asset space will thrive in the United States going forward. I look forward to making history with my colleagues this week.”

The potential legislation would require stablecoin issuers to maintain backing for their assets on a 1:1 ratio. The bill also states that stablecoin issuer reserves can be made up of US currency; funds held as demand deposits or insured shares at an insured depository institution; and Treasury bills, notes or bonds.

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Sovereign entities opt for indirect Bitcoin exposure via Strategy to bypass constraints – StanChart https://earlybirdsinvest.com/sovereign-entities-opt-for-indirect-bitcoin-exposure-via-strategy-to-bypass-constraints-stanchart/ https://earlybirdsinvest.com/sovereign-entities-opt-for-indirect-bitcoin-exposure-via-strategy-to-bypass-constraints-stanchart/#respond Tue, 20 May 2025 21:16:26 +0000 https://earlybirdsinvest.com/sovereign-entities-opt-for-indirect-bitcoin-exposure-via-strategy-to-bypass-constraints-stanchart/

Sovereign wealth funds and state institutions are increasingly opting to gain Bitcoin (BTC) exposure through Strategy (MSTR) rather than spot BTC exchange-traded funds (ETFs), according to Standard Chartered’s head of digital assets research, Geoffrey Kendrick.

In an investor report published May 20, Kendrick said that regulatory filings show that increased MSTR holdings drove the bulk of sovereign Bitcoin accumulation over the past quarter, even as direct ETF activity remained flat overall.

The filings confirm speculation that sovereign interest in Bitcoin is growing every quarter, with nations starting to build exposure in various ways.

Indirect exposure on the rise

Kendrick noted that while headlines focused on Wisconsin’s 3,400 BTC-equivalent ETF exit, the real momentum came from governments and public institutions buying equity in Strategy, which now holds 576,230 BTC.

Regulatory filings reveal that Norway, Switzerland, and South Korea were among the most active buyers of MSTR during the first quarter, collectively adding over 1,600 BTC equivalent of exposure via MSTR shares.

In the US, state pension funds in California, New York, and North Carolina also added another 1,000 BTC equivalent via MSTR. This contrasts with Wisconsin, which divested its ETF exposure.

Meanwhile, Abu Dhabi increased its direct ETF exposure by 300 BTC equivalent, bringing its total to 5,000 BTC, and Saudi Arabia’s central bank made its first-ever appearance with a small allocation.

Kendrick said that the 13F filings show that institutional investors are increasingly using MSTR as a structural bridge into Bitcoin markets.

He added that Strategy’s appeal lies in its unique positioning as a leveraged proxy to Bitcoin, especially for allocators constrained by operational or regulatory barriers to holding digital assets directly.

Broader implications

Despite overall sovereign ETF positions remaining unchanged, offset by Wisconsin’s exit, Standard Chartered views the net increase in MSTR exposure as a bullish signal.

The moves align with the bank’s long-standing view that Bitcoin could reach $150,000 under broader institutional integration by the end of this year and $500,000 by the end of President Donald Trump’s current term in 2028.

Standard Chartered said in its report:

“The latest 13F data… supports our core thesis that Bitcoin (BTC) will reach the $500,000 level before Trump leaves office as it attracts a wider range of institutional buyers.”

The report also noted that ETF and MSTR positions have now surpassed 100,000 BTC in combined quarterly holdings, reinforcing Bitcoin’s growing presence in traditional portfolios.

As geopolitical uncertainty and inflation persist, sovereign entities appear to be experimenting with Bitcoin as a store of value, albeit cautiously and often indirectly.

Kendrick concluded the note by suggesting that the detail and diversity of 13F Bitcoin-related filings are “continuing to improve,” indicating deeper market penetration and data granularity in future disclosures.

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Posted In: Bitcoin, Saudi Arabia, South Korea, Switzerland, UAE, US, Adoption, Crypto, Featured, Macro, TradFi

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Retail Bitcoin holdings drop to 17% as wealthier entities dominate https://earlybirdsinvest.com/retail-bitcoin-holdings-drop-to-17-as-wealthier-entities-dominate/ https://earlybirdsinvest.com/retail-bitcoin-holdings-drop-to-17-as-wealthier-entities-dominate/#respond Thu, 15 May 2025 14:29:56 +0000 https://earlybirdsinvest.com/retail-bitcoin-holdings-drop-to-17-as-wealthier-entities-dominate/

Everyday minnow Bitcoin holders control only a fraction of the top digital asset’s total circulating supply despite its vision of financial decentralization and autonomy.

According to a May 14 report from blockchain analytics firm Santiment, retail wallets holding less than 10 BTC collectively own just 3.47 million coins, equivalent to 17.5% of Bitcoin’s circulating supply. This group has approximately $358 billion worth of BTC in dollar terms.

A closer look at the distribution shows an even greater imbalance.

According to the firm, wallets with less than 1 BTC, typically representing smaller retail participants, account for under 7% of the total supply.

Bitcoin Holders Classifications — Bitcoin Holders Classifications (Source: Santiment)

Large Bitcoin holders dominate

Meanwhile, Santiment’s analysis points to a strong Bitcoin concentration among wallets between 10 and 10,000 BTC.

According to the firm, this group controls over 68% of the total supply, equivalent to more than 13.5 million BTC. In dollar terms, their holdings are worth $1.39 trillion.

The group includes early adopters, institutional players, high-net-worth individuals, and centralized exchanges.

Within this cohort, wallets holding 100 to 1,000 BTC own around 23.5% of the supply, while those with 1,000 to 10,000 BTC account for an additional 22.8%.

Meanwhile, crypto exchanges like Binance and Coinbase also hold significant BTC. These exchange wallets have more than 7.4 million BTC, making them key drivers of market liquidity and price action.

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