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Ezra Reguerra
13 hours ago


COINBASE HOLDS 5% OF ALL BITCOIN IN EXISTENCE: DATA

While Coinbase holds $25 billion in BTC, the exchange only owns around $200
million of Bitcoin in its wallets.

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Blockchain intelligence platform Arkham recently identified that crypto exchange
Coinbase holds almost 1 million Bitcoin

BTC

$26,578

in its wallets. The coins are worth more than $25 billion at current market
prices for BTC. 

According to Arkham, the exchange’s holdings amount to almost 5% of all existing
Bitcoin. Arkham said that Coinbase holds a total of 947,755 BTC. At the moment,
Bitcoin’s circulating supply is around 19,493,537, according to coin information
website CoinGecko.



Furthermore, Arkham also noted that it tagged and identified 36 million Bitcoin
deposit and holding addresses used by the exchange. According to Arkham,
Coinbase’s largest cold wallet holds around 10,000 BTC. Based on the exchange’s
financial reports, the intelligence company believes that Coinbase has more
Bitcoin that are not yet labeled and could not be identified. 


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While Coinbase holds over $25 billion in BTC in its wallets, the exchange only
owns around 10,000 of all the Bitcoin it holds, which is worth roughly $200
million, according to recent data.

Related: Bitcoin mining can help reduce up to 8% of global emissions: Report

Meanwhile, community members expressed varying reactions to the news about the
amount of Bitcoin the centralized exchange holds. Some believe it’s a sign to
withdraw their BTC from exchanges, warning holders not to wait until exchanges
start to halt withdrawals. Others say that since there are legitimate concerns
over cold wallets, there’s no good way to store their assets.

When it comes to Bitcoin ownership by companies, business intelligence firm
MicroStrategy still owns the most BTC. In earnings results posted on Aug. 1, the
firm’s co-founder Michael Saylor declared that the company owns 152,800 BTC,
worth over $4 billion at the time of writing.

Magazine: How to protect your crypto in a volatile market: Bitcoin OGs and
experts weigh in

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 * #Bitcoin
 * #Coinbase



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Ezra Reguerra
16 hours ago


COINBASE CEO WARNS AGAINST AI REGULATION, CALLS FOR DECENTRALIZATION

Coinbase CEO Brian Armstrong said decentralization and open-sourcing AI is a
better alternative to regulating the space.

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Brian Armstrong, the CEO of crypto exchange Coinbase, expressed his stance on
artificial intelligence (AI) regulation in a recent post on the social media
platform X (formerly Twitter). 

On Sept. 23, Armstrong explained that he believes that AI should not be
regulated. According to the Coinbase CEO, the AI space needs to develop as soon
as possible because of reasons such as national security. In addition, Armstrong
also noted that despite the best intentions of regulators, regulation “has
unintended consequences,” arguing that it kills innovation and competition.



The Coinbase executive cited the internet as an example. Armstrong believes
there was a “golden age of innovation” on the internet and software because it
was not regulated. The Coinbase CEO suggested the same should be applied to AI
technology. 

Furthermore, Armstrong also presented an alternative to regulation in terms of
protecting the AI space. According to the executive, it would be better to
“decentralize it and open source it to let the cat out of the bag.”

Related: Tether acquires stake in Bitcoin miner Northern Data, hinting at AI
collaboration

Meanwhile, various jurisdictions across the globe have either started to
regulate AI or express concerns about its potential effects. On Aug. 15, China’s
provisional guidelines for AI activity and management came into effect. The
regulations were published on July 10 and were a joint effort between six of the
country’s government agencies. This is the first set of AI rules implemented
within the country amid the recent AI boom.

In the United Kingdom, the competition regulator studied AI in order to identify
its potential impact on competition and consumers. On Sept. 18, the U.K.’s
Competition and Markets Authority concluded that while AI has the potential to
change people’s work and lives, the changes may happen too fast and could have a
significant impact on competition.

Magazine: ‘AI has killed the industry’: EasyTranslate boss on adapting to change

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 * #Coinbase
 * #AI
 * #Regulation



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 * How to actually spend your Bitcoin, Explained
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   Fractionalization of real world assets: Is this the holy grail of blockchain
   tech?
 * How are crypto firms responding to US regulators’ enforcement actions?

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 * Coinbase holds 5% of all Bitcoin in existence: Data
 * Bitcoin miners double down on efficiency and renewable energy at the World
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 * Bybit will suspend services in UK following financial regulator’s ‘final
   warning’
 * Binance.US scores against SEC, Mt. Gox delay repayments, and other news:
   Hodler’s Digest, Sept. 17-23
 * How are crypto firms responding to US regulators’ enforcement actions?

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Bitcoin BTC/USD
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EOS EOS/USD
0.58 +0.21%

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