Cointelegraph reports significant cryptocurrency developments today. Robinhood’s proposal to tokenize stocks on its novel blockchain could disrupt major exchanges like NYSE, while a Coinbase executive raises speculations about a potential $8.6 billion Bitcoin heist. Furthermore, the movement of 14-year-old Bitcoins has reignited rumors about Satoshi Nakamoto.
Robinhood’s 24/7 Stock Tokenization Threatens NYSE: Galaxy Digital
Robinhood aims to tokenize stocks on its newly introduced Ethereum-compatible chain dubbed “Robinhood Chain”. This ambitious move could lead to a significant shift in trading volumes away from conventional exchanges like NYSE, posing a direct threat to their core revenues. The plan involves facilitating onchain transactions of tokenized stock derivatives outside the typical exchange hours, says Robinhood CEO Vlad Tenev at the EthCC conference.
Galaxy Digital notes that Robinhood’s tokenization agenda could shake up the traditional market dynamics by moving assets onchain, directly challenging the liquidity concentration that gives the NYSE and other similar exchanges their competitive edge.
Potential $8.6B Bitcoin Heist: Coinbase Executive
Conor Grogan, Coinbase’s head of product, suggests a faint possibility that the recent transfer of $8.6 billion worth of Bitcoin from eight dormant wallets might be the result of a massive heist. If this speculation is true, it would be the largest robbery in human history. Grogan pointed out a suspicious Bitcoin Cash transaction made before the massive transfers, which involved 10,000 Bitcoins each time.
Rumors About Satoshi Nakamoto Reignited:
Bitcoin’s price fell slightly on US Independence Day, coinciding with a large-scale movement of Bitcoins that haven’t been touched in over a decade. The transaction has sparked rumors that it might be linked to Bitcoin’s anonymous creator, Satoshi Nakamoto. The transfer happened at a time when corporate Bitcoin adoption is on the rise, with 255 companies currently holding about 3.97% of the total Bitcoin supply.
