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Project Overview
Xapo was a cryptocurrency wallet and custody service provider. In 2019, Coinbase acquired the institutional business of Xapo. In 2021, Xapo Bank relaunched, providing a platform to bridge the gap between traditional financial institutions and the digital currencies of the future.
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Galaxy: Approximately 11.1 million Bitcoin cannot be linked to known holders, accounting for 55% of the total mined supply.
According to CoinDesk, Galaxy Research's October snapshot reveals that of the approximately 20.1 million mined bitcoins, around 11.1 million (roughly 55%) reside at addresses that cannot be linked to exchanges, funds, governments, or other known entities. Alex Thorn, head of Galaxy Research, noted that this suggests that despite growing institutionalization, a significant volume of bitcoin likely remains self-custodied by individuals. Xapo Bank, meanwhile, views this as evidence that retail investors have been participating in the market for over a decade. However, not all of these unattributed bitcoins necessarily belong to individuals practicing long-term self-custody. This group may also include coins rendered inaccessible due to lost private keys or deceased holders, holdings from institutions or OTC traders yet to be identified by Galaxy, and custodied assets spread across multiple addresses. The remaining 45% has clear ownership attribution, encompassing exchanges, ETFs issued by issuers such as BlackRock, and the US government; among them, the single largest holder is "Satoshi (Patoshi pattern)", holding 1,123,658 BTC.
Arthur Hayes: Prepare to Buy Bitcoin, Sustained Monetary Expansion Could Drive It to $250,000
Odaily News: Arthur Hayes stated that investors should prepare to buy Bitcoin and expects Bitcoin to perform well in the coming years. He believes that if the U.S. continues to expand its money supply, Bitcoin's price could ultimately rise to $250,000.Bitcoin has risen about 20% since mid-August, adding $300 billion to its total market capitalization within hours. Scott Bessent previously pledged to support the bond market, and this week it was noted that the Treasury may tap nearly $1 trillion from the Treasury General Account to fund bond purchases.Gadi Chait, investment manager at Xapo Bank, said Bitcoin rose about 23% last week, marking its largest weekly gain since March 2023. During the same period, U.S. spot Bitcoin ETFs saw net inflows of approximately $1.9 billion, with record short liquidations further fueling the rally. (Forbes Digital Assets)
Xapo Bank Requires Users to Enable Location Permissions Before Trading, Citing Data Verification to Confirm Account Control
Odaily News: Bitcoin News posted on X platform that Xapo Bank users have reported the app now requires location data before allowing transactions. According to reports, one user was told they must share GPS coordinates to access their funds. Xapo Bank stated it will cross-check location information with other data to confirm that the account holder controls the account. @ToneVays warned that location requirements could become standard for regulated payment apps; Casa CEO @Nneuman said the measure may be aimed at countering large-scale social engineering attacks rather than traditional KYC.