Bitcoin ETF Custody Concentrates Power, Raising Systemic Risk
Spot Bitcoin exchange‑traded funds now hold over $54 billion, roughly 1.5 million BTC. The ETF structure places the underlying coins in a trust controlled by a handful of custodians, with Coinbase identified as the dominant custodian, creating a single point of operational failure.
Also developing:
By the numbers: Pepeto raises $7M in token presale

$BNB broke its multi-year trendline back in July and never looked back Up over 600% since the bear market bottom And now firmly in price discovery mode Next major Fib targets: - $1,486 for 2.618 - $1,983 for 3.618 Can it hit $2,000 before the end of the year? https://t.co/Omk8biM7Df
Bitcoin broke its ATH on Monday. But are we still early in the mania? 🤔 @Steven_Ehrlich, @ramahluwalia, @CampbellJAustin & @joshua_j_lim on: 🤔 Is this really the debasement trade unfolding? 📉 “Marking up each other’s bags” 🔥 Why this cycle’s different from 2021 💣 The risk...

In today’s Unchained Daily: 🪙 BNB takes bronze—XRP’s out, Binance is booming 💸 ICE drops $2B on Polymarket’s prediction empire 🧾 S&P’s new index mixes crypto and stocks for the first time 🔧 Forward Instruries’ Solana node runs with zero fees 📩 Don’t miss out—read...

new from me on the 'stack: my response to this pro-CBDC, anti-stablecoin opinion piece in the NYT https://t.co/bhU7DjULEE

If Bitcoin starts blocking transactions, is it still Bitcoin? ⚡ Some call filtering our NFTs and memecoins "protection." Others call it ”censorship.” This might be Bitcoin's most controversial debate in years. https://t.co/9RZkIGMaaM

#BTC CME gap closed. Higher!!🚀 https://t.co/BUuBHydBMx