Coindesk

River says individuals still own the majority of bitcoin.The U.S.-based bitcoin financial services firm revealed ownership distribution research dated Aug. 25, 2025 in a recent post on X. The study groups supply into categories and shows the share River attributes to each, using public filings, custodial address tagging and earlier blockchain research.River estimates individuals control about 65.9% of circulating BTC, or 13.83 million coins. This bucket includes self-custodied wallets and exchange accounts River classifies as individual.On the institutional side, River divides holdings into businesses and ETFs and funds.Businesses — a global category covering corporate treasuries and conventional firms that report bitcoin holdings — account for about 6.2% of supply, or 1.30 million BTC.ETFs and funds — spot ETFs and investment...

River says companies are taking in far more bitcoin each day than miners create.The U.S.-based bitcoin financial services firm, which runs brokerage and mining operations and publishes research, released a Sankey-style flow infographic dated Aug. 25 in a post on X. In this layout, outflows are shown on the left, inflows on the right, and the thickness of each line represents the size of the net daily movement.River defines “businesses” broadly. The category combines bitcoin treasury companies — firms such as Strategy that publicly hold BTC — with conventional companies that keep bitcoin on their balance sheets. Based on public filings, custodial address tagging and its own heuristics, River estimates that about 1,755 BTC per day flow into business-controlled wallets.By...

Arthur Hayes, the BitMEX co-founder now serving as co-founder and chief investment officer of crypto-focused venture capital firm Maelstrom, says Hyperliquid’s HYPE token could soar more than 100-fold.Hayes is best known for inventing the perpetual swap at BitMEX, the derivatives contract that changed crypto trading. At Maelstrom, he invests in early-stage infrastructure projects. In his latest blog post, Hayes argued Hyperliquid’s token could rise 126 times, a claim backed by a valuation model produced by Maelstrom.Hyperliquid is a decentralized exchange built on its own blockchain. Unlike Coinbase or Binance, which are companies running private servers, Hyperliquid lives fully on-chain. Traders use it mainly for perpetual futures — contracts that let them bet on crypto prices without an expiry date.Its native...

El Salvador has overhauled how it stores the nation’s bitcoin, saying the change both strengthens security today and prepares for technological risks that could emerge in the future.In an announcement on Friday, the Bitcoin Office said the country’s entire reserve has been moved out of a single wallet and spread across many new ones. Each wallet will hold no more than 500 BTC, a limit meant to reduce the potential damage if any one of them were ever compromised.Officials described the new setup as following established industry practices while also anticipating advances in quantum computing. Quantum machines, they noted, could one day break the cryptographic math that secures bitcoin, as well as everyday systems like banking, email and online communications.The...

Pump.fun’s native token, PUMP, has bucked the market-wide downturn this week, rising by 17% as the protocol leverages platform fees to repurchase tokens. The buybacks are designed to support holders by reducing circulating supply and absorbing sell pressure, a model increasingly common across crypto projects.At the time of publishing, PUMP is trading at $0.0035, about 40% higher than a month ago but still down 50% from its July debut, when it quickly fell from $0.007 to $0.0024 in just 10 days. The sharp post-launch decline reflected the fading of initial hype, but recent momentum suggests buybacks are helping stabilize the token’s market.The driver is Pump.fun’s revenue engine. The platform earns fees on every token created through its service, a model...