The well-known Twitter (X) account @BTC_for_Freedom recently published a message informing followers that the Gemini cryptocurrency exchange has experienced an amazing 26,000 BTC withdrawal from its accounts over the course of the previous several months.
This represents about 25% of Gemini’s entire Bitcoin holdings. The individual who created the account on Twitter asserted, “Something is happening here.” Then he questioned whether BlackRock may have purchased Bitcoins and taken them out of self-custody.
Several individuals continued the conversation regarding BlackRock in the comments section, shifting the topic to its ETF application that was filed to the SEC and is now being taken under consideration by the regulatory body.
BlackRock filed for the SEC to make a decision on the launch of a Bitcoin spot ETF in July, and a decision will be made in March of the following year. However, the commenters questioned why BlackRock would be purchasing such a large amount of Bitcoin if the regulator has not yet approved its proposal.
The regulator extended the decision-making window for Cathie Wood’s Ark Bitcoin spot ETF earlier this week to August 30.
In other news, the Winklevoss twins Tyler and Cameron’s Gemini exchange have resumed trading in XRP. The SEC’s recent loss to Ripple in court, where the judge determined that XRP sales to retail investors and its programmatic sales were not securities, in contrast to XRP sales to financial institutions, was the catalyst for this.
