Blockchain Bites: Bitcoin’s ‘Rich List,’ Ethereum’s Volatility, DeFi’s Shakeup

There are more addresses than ever as part of Bitcoin’s “rich list,” the Federal Reserve is looking to change tack on inflation and another firm is putting its cash reserves into bitcoin, not a bank account.

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Top shelf

Rich list
The “Bitcoin Rich List,” or the number of wallets with at least 1,000 BTC (~$11.5 million), is at a record high. There are approximately  2,190 rich list addresses, surpassing the previous record of 2,184 set Sept. 28, 2019. This could reflect increased interest in bitcoin from institutions and high-net-worth investors, CoinDesk’s Muyao Shen reports. The total amount of bitcoin held in accounts of 1,000 or more was 7,868,823 as of press time. That amounts to $92.2 billion.

Inflation watch
U.S. Federal Reserve Chair Jerome Powell is expected to signal tolerance for higher inflation during his keynote speech at the Jackson Hole Economic Policy Symposium on Thursday. According to analysts speaking to CoinDesk, that could ultimately lead to further drops in the dollar and greater buying power for bitcoin traders and investors, CoinDesk’s Omkar Godbole reports. The central bank has mostly missed its 2% inflation target since 2012. “The major impact for crypto out of this symposium would be a change in monetary policy and further depreciation of the U.S. dollar, which could propel bitcoin higher,” said Matthew Dibb, co-founder of Stack.

Company breach
hacker has stolen data on more than 1,000 users from CryptoTrader.Tax, an online service used to calculate and file taxes on cryptocurrency trades. Breaking into a customer service employee’s account, on April 7, the hacker downloaded a file containing 13,000 rows of information, including 1,082 unique email addresses as well as names, payment processor…

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