Bloomberg Analyst: BlackRock's Bitcoin Holdings Reach 57% of Satoshi Nakamoto's, Projected to Become the World's Largest Bitcoin Holder by Next Summer

According to Reuters, prediction market platform Kalshi accused Nevada’s gaming regulator on Saturday of violating federal law during an investigation into its geofencing measures. Earlier, the regulator had sought a $120,000 daily fine against Kalshi over allegations that the platform failed to implement a full geofencing plan as ordered by a court. Court documents show that on the day after the relevant compliance deadline, Nevada regulator investigators successfully completed nine transactions on Kalshi’s mobile app via local cellular networks. Kalshi said it had hired GeoComply, a firm licensed by the local gaming regulator, to provide geofencing services as required by the state, and had continuously reported implementation progress to the regulator. Kalshi’s lawyers claimed that Nevada investigators provided false residential addresses to the platform during testing, allegedly violating federal law, and at least one investigator bypassed Kalshi’s own blocking measures. In April this year, a Nevada judge issued a preliminary injunction barring Kalshi from offering related contract trading in the state without obtaining a gaming license.

Strategy founder Michael Saylor said that over the past year, Bitcoin has fallen by 47%, while Strategy’s digital credit instruments have delivered performance ranging from a 27% decline to a 9% gain over the same period, with STRC rising 9%. Financial engineering can convert highly volatile "digital capital" into financial instruments designed to generate returns, provide stability, and reduce downside risks.

CryptoQuant analyst Darkfost noted in a post that the amount of Bitcoin supply considered "lost" has reached an all-time high, currently standing at 3.56 million BTC, accounting for roughly 17.7% of the circulating supply. His metric refers to BTC that has not moved for over 10 years. While a tiny number of long-dormant Bitcoin does reactivate in rare cases—such as in July 2025—this long-unmoved supply as a whole continues to grow. More than 14,000 BTC have joined this long-dormant supply category over the past 30 days. This trend naturally reduces the amount of Bitcoin actually in active circulation.

Well-known trader Killa posted that Bitcoin has returned above the 0.8 level of the Mayer Multiple, after its price briefly dipped below that threshold earlier. He pointed out that in 2022, BTC also briefly fell below this level before reclaiming it. Killa stated that the real confirmation signal in 2022 came when Bitcoin reclaimed its 200-day moving average, following which the bull market began. Currently, BTC’s 200-day moving average is approximately $69,500. He believes that all that’s needed next is for Bitcoin to break back above and hold the 200-day moving average; once that happens, the market can be considered to have officially entered a bull market.

Tether CEO Paolo Ardoino has stated that Tether is not building any blockchain and has no related plans. The stablecoin issuer will remain chain-agnostic, supporting multiple blockchains as transmission networks for USDT. This comes after CoinMarketCap previously analyzed that stablecoin firms including Stripe, Circle, and Tether are each developing their own dedicated blockchains. Ardoino’s response denies the claim that Tether is building its own blockchain.

Tether CEO Paolo Ardoino stated that Tether has not developed its own blockchain and has no plans to do so. The firm will remain chain-neutral and support multiple blockchains as transmission networks for USDT. Earlier, CoinMarketCap analyzed that stablecoin companies including Stripe, Circle, and Tether were each building dedicated blockchains. Ardoino’s latest response denies claims that Tether is developing its own blockchain.