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Greetings Bitcoiner,
Welcome to Issue #467 of Bitcoin Breakdown, where it’s OPSEC Wednesday special, followed by the latest Quick Bits snippets.
But first, today’s Top Stories:
🏦 Goldman Sachs Discloses $1.1 Billion in Bitcoin ETFs
⛏️ Bitdeer's SEALMINER Fleet Crosses 65 EH/s
🐳 Whales Scoop 53,000 BTC in Biggest Spree Since November
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🏦 Goldman Sachs Discloses $1.1 Billion in Bitcoin ETFs
Goldman Sachs disclosed $1.1 billion in BlackRock's IBIT and $2.36 billion in total crypto exposure via SEC filings -- tripling its Bitcoin ETF position in months to become one of the largest institutional holders.
Why it matters: The Genius Act and Clarity Act are building stablecoin pressure and market structure rails that will force banks to become digital asset storefronts just to survive deposit flight. The only asset with enough liquidity, demand, and regulatory momentum to anchor that pivot is actual Bitcoin — not its paper equivalent, though… 🙄 Baby steps. Read more→
Shifting to mining...
⛏️ Bitdeer's SEALMINER Fleet Crosses 65 EH/s
Bitdeer reported its proprietary SEALMINER rigs have reached 65.1 EH/s in cumulative deployed hashrate. January self-mining output hit 668 BTC -- a 430% year-over-year surge -- while the company activated 1,792 Nvidia GPUs in Malaysia for AI workloads.
Why it matters: Owning your own silicon is the mining endgame. Bitdeer's vertically integrated model -- design chips, build rigs, deploy hashrate, sell surplus -- is exactly how Bitcoin mining decentralizes away from single-supplier dependency. Read more→
Meanwhile...
🐳 Whales Scoop 53,000 BTC in Biggest Spree Since November
Wallets holding over 1,000 BTC added roughly 53,000 bitcoin last week -- about $3.65 billion worth -- their largest accumulation since November. The buying interrupted months of heavy selling that left Bitcoin roughly 40% below its October peak.
Why it matters: Deep pockets are absorbing supply that weaker hands are dumping -- the classic pre-recovery pattern. But retail is absent and futures open interest has halved. Whale conviction sets the floor; broader participation determines if it holds. Read more→
Why Did Goldman Sachs Triple Bitcoin ETF Exposure In SEC Filings?
Every time you check a block explorer, open your Lightning dashboard, or log into an exchange, your internet provider quietly logs the domain name. This weak’s OPSEC article walks you through encrypting those queries and cutting the metadata trail.
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Cash App eliminates fees on bitcoin purchases over $2K, recurring buys, and Lightning Network spending while increasing withdrawal limits to encourage living on Bitcoin as everyday money.
Discord clarifies that most users won't need facial scans or ID verification for age checks, walking back yesterday's announcement after backlash by emphasizing age prediction technology and limited policy impact.
FBI investigators believe Nancy Guthrie's kidnapper is from the Tucson area based on ransom note analysis, as the Bitcoin wallet shows first activity following missed $6M ransom deadlines.
Sam Bankman-Fried, the imprisoned former FTX CEO serving a 25-year sentence, files for a new trial, claiming political persecution by the Biden administration and alleging prosecutors withheld evidence of FTX's solvency.
US Treasury Secretary Scott Bessent urges Congress to pass the Digital Asset Market Clarity Act this spring, warning that legal certainty is essential for US Bitcoin and crypto market competitiveness.
Interactive Brokers, a global electronic brokerage firm, now offers nano BTC futures via Coinbase Derivatives, providing smaller, perpetual-style contracts to broaden regulated access for clients.
Bitcoin's Mayer Multiple, a key price-to-moving-average indicator, drops to 0.65 matching 2022 bear market lows.
Two California teens face kidnapping and assault charges after allegedly traveling 600+ miles to target a Scottsdale home for $66M in bitcoin using disguises and restraints.
Ledn's $188M bitcoin-backed bond, rated by S&P Global Ratings, faces early stress as BTC's price drop forces liquidation of collateral loans ahead of Feb 18 closing.
US Federal Reserve Governor Christopher Waller says Bitcoin and crypto markets remain detached from traditional finance, dismissing Bitcoin volatility as routine.
Cango, a Dallas-based Bitcoin miner, sells 4,451 BTC for $305M to repay debt and fund pivot into AI compute infrastructure, appointing new CTO as mining margins tighten post-halving.
Anatoly Aksakov, head of Russia's State Duma Committee on Financial Markets, warns BTC will eventually collapse despite drafting new legislation to regulate the country's mining industry.
South Korean regulators launch task force and on-site inspections after Bithumb, the country's second-largest crypto exchange, mistakenly credited $40B in 'ghost bitcoin' to accounts, exposing structural weaknesses in internal controls.
Strategy purchases 1,142 BTC for $90M before last week's crash that drove prices down to $60K.
Michael Saylor, Strategy CEO, dismisses liquidation concerns and reaffirms commitment to buying BTC quarterly 'forever' despite market volatility, citing conservative leverage and 2.5 years of cash reserves.
Binance, the world's largest crypto exchange whose founder CZ received a presidential pardon, holds $4.7B or 87% of Trump family-linked stablecoin USD1's $5.4B supply, raising concentration concerns amid allegations of potential quid pro quo.
Galaxy Digital CEO Mike Novogratz says crypto's speculative era is ending as institutional investors with lower risk tolerance enter the market, predicting a shift toward real-world assets and tokenized securities with modest returns.
Thank you for reading!
