CEO of a top Bitcoin exchange warns: crackdown on cryptocurrencies may be coming

Re:CEO of a top Bitcoin exchange warns: crackdown on cryptoc... by mbesto on Monday April 12, 2021 @06:42PM (#26786095)

> It's a system that exists to favor the few and it's time to disrupt the orgy.

I've got news for you:

BTC: 2% of the anonymous ownership accounts that can be tracked on the cryptocurrency's blockchain control 95%[0]

ETH: Just 376 People Found to Own a Third of All Ether Cryptocurrency[1]

[0] - https://www.bloomberg.com/news/articles/2020-11-18/bitcoin-w...

[1] - https://www.bloomberg.com/news/articles/2019-05-15/just-376-...

[ Parent | on HN ]

Re:CEO of a top Bitcoin exchange warns: crackdown on cryptoc... by chabes on Monday April 12, 2021 @07:48PM (#26786561)

Are you familiar with the concept of cold wallets held by exchanges? https://www.longhash.com/en/news/3257/A-New-Way-of-Measuring...

[ Parent | on HN ]

Re:CEO of a top Bitcoin exchange warns: crackdown on cryptoc... by mbesto on Monday April 12, 2021 @07:59PM (#26786616)

I am. What's your point?

If you don't think crypto, an anonymous unregulated security, is being manipulated by a small amount of people then I have a bridge to sell you.

[ Parent | on HN ]

Re:CEO of a top Bitcoin exchange warns: crackdown on cryptoc... by eindiran on Monday April 12, 2021 @09:16PM (#26787130)

I think that OP's point was likely that many of these wallets are actually cold wallets for exchanges and institutions, rather than individual whales. The article's definition of whales is pretty loose anyway: "individuals who hold their assets in digital wallets and not on an exchange".

[ Parent | on HN ]