U.S. Transfers Bitcoin to Coinbase, Assange Freed with Help of BTC, and ETH Sees Longest Inflation Streak
Summary:
The U.S. government transferred around 4,000 Bitcoin, sourced from a convicted narcotics dealer, to a Coinbase account, stirring varied reactions in the crypto community. In other news, WikiLeaks co-founder, Julian Assange, is now free following an anonymous Bitcoin donation to aid his family in meeting incurred expenses during his U.S. extradition battle. Meanwhile, the availability of new Ether (ETH) has been consistently rising for the past 73 days, marking ETH's longest inflation period following the Merge update in September 2022.
The United States government recently transferred around 4,000 Bitcoin to a Coinbase account. The source of these bitcoins is reportedly Banmeet Singh, a convicted narcotics dealer on the dark web, who was ordered to surrender approximately 8,100 BTC during his 2019 conviction. The recent transfer of the significant Bitcoin stock has sparked a variety of reactions among the crypto community.
In other news, Julian Assange, co-founder of WikiLeaks, is now free, in part due to the support from the Bitcoin community. An anonymous Bitcoin user donated more than 8 BTC, nearing a value of $500,000, to aid Assange’s family in offsetting the medical and living costs accumulated during his lengthy battle against U.S. extradition.
Following a plea agreement with the U.S. officials, Assange was released from a high-security prison in the UK on June 24 and flown out of the country to the Northern Mariana Islands, a U.S. territory, avoiding setting foot on U.S. mainland. He pleaded guilty to breaching the U.S. Espionage Act by leaking classified documents and was obligated to reimburse the Australian government $520,000 before the departure.
Meanwhile, the availability of new Ether (ETH) has been escalating for the last 73 days consecutively. This is ETH's longest period of sustained inflation post the Merge update in September 2022. The increased inflation rate is likely a result of Ethereum's Dencun update and the introduction of various Ethereum Improvement Proposals (EIPs), including "blobs", a technique that temporarily saves transaction data, thereby reducing transaction fees on Ethereum layer 2 networks. However, the ETH supply has generally been declining since the Merge update when Ethereum shifted from a Proof-of-Work to a Proof-of-Stake model.
Contributions by Felix Ng, Sam Bourgi, and Geraint Price.
Published At
6/26/2024 11:24:04 PM
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