Bitcoin whale’s $9.6B transfer, GENIUS Act spark correction concerns
2025-07-18 14:22:06
Main Idea
A Bitcoin whale's $9.6 billion transfer and the GENIUS Act's stablecoin audit requirements are causing concerns about a potential market correction, while some remain optimistic about regulatory clarity.
Key Points
1. A Satoshi-era whale moved $9.6 billion worth of Bitcoin after 14 years of dormancy, sparking market correction concerns.
2. The GENIUS Act, passed by US regulators, imposes stablecoin audit requirements, which some fear could impact Bitcoin's market stability.
3. Financial analyst Jacob King criticized Bitcoin as being propped up by 'fake money,' calling it the 'biggest bubble and fraud in financial history.'
4. The GENIUS Act provides 'clear regulatory frameworks and compliance pathways,' according to Katalin Tischhauser of Sygnum.
5. US spot Bitcoin ETFs recorded 11 consecutive days of net positive inflows, totaling over $522 million on Thursday.
Description
An OG Bitcoin whale’s $9.6 billion transfer and the stablecoin audit requirements imposed by the GENIUS Act are sparking correction concerns among some industry watchers.
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