Crypto News- Coinbase’s Bitcoin (BTC) stash has hit its lowest mark in almost a decade, catching the attention of BlackRock, which is now branding Bitcoin as “progress” in its latest spot Bitcoin ETF ad. Meanwhile, Senator Elizabeth Warren has raised concerns about potential pro-crypto lobby groups aiming to disrupt her re-election campaign in 2024.
February 20 Crypto News Digest
Over the weekend, CryptoQuant reported a significant movement of 18,000 Bitcoin, totaling nearly $1 billion, off Coinbase. This reduction brings Coinbase’s public Bitcoin holdings down to around 394,000 BTC, valued at approximately $20.5 billion – the lowest since 2015. While some see this as a bullish signal indicating less BTC available for sale, opinions on social media are split.
BlackRock, the world’s largest asset manager, has taken a subtle yet firm stance in its advertising campaign for its recently launched spot Bitcoin exchange-traded fund. Embracing Bitcoin as “progress,” BlackRock’s advertisements maintain a more conservative tone compared to its competitors, appealing to the affluent demographic.
However, Senator Elizabeth Warren has sounded the alarm regarding potential political challenges fueled by pro-crypto interests in the upcoming Senate race. Warren cautioned about the influx of money from crypto Super PACs, citing concerns about the influence of lobbying efforts against crypto regulations. She reiterated her stance against corporate PAC money, emphasizing her reliance on small donations for her campaign.
Warren highlighted the loopholes in the crypto regulatory framework, expressing worries about its exploitation by criminal elements. She pointed to the significant financial resources at the disposal of some crypto proponents, who she claims are deploying a formidable lobbying force against regulations such as the Digital Asset Anti-Money Laundering Act.
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