Number of Bitcoin millionaire wallets triples in 2023

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The Blends Briefs
TL’DR: Here’s a sneak peek into today’s newsletter

• The number of Bitcoin millionaire wallets triples in 2023. 

• JPMorgan is sceptical about attracting new capital to approved bitcoin ETFs. 

• Fake Skype app used in crypto phishing.

• Indian dismisses Plea seeking crypto trading regulations.

• South Korea’s Bithumb is planning for an IPO. 

• Dictionomics: Wholecoiners

Global Biscuits

The number of Bitcoin millionaire wallets triples in 2023.
The number of Bitcoin wallet addresses holding more than $1 million worth of Bitcoin has tripled in 2023, increasing from 23,795 on January 1 to 81,925 currently, according to BitInfoCharts. This represents a 237% increase in the number of millionaire wallets in the last 11 months. It's worth noting that these addresses are not necessarily individual users, as many belong to crypto exchanges and financial institutions. Meanwhile, the number of "wholecoiners" — wallets with a balance of at least 1 BTC — has increased by 4% since the beginning of the year, totaling 1,018,015 addresses.

JPMorgan is sceptical about attracting new capital to approved bitcoin ETFs.
According to a research report from JPMorgan, the recent rally in the cryptocurrency market, driven by excitement about the potential approval of spot bitcoin exchange-traded funds (ETFs), seems overdone. The bank is sceptical of arguments that a spot bitcoin ETF approval would attract new capital to the crypto sector and soften the Securities and Exchange Commission's (SEC) approach toward the industry. JPMorgan suggests that, instead, existing capital might move from current bitcoin products to newly approved spot ETFs. The bank also notes that similar ETFs in Canada and Europe have gained little interest from investors.

Fake Skype app used in crypto phishing.
Blockchain security firm SlowMist has revealed a phishing attack using a fake Skype app, resulting in the theft of cryptocurrency funds. The victim, who downloaded the deceptive app in China from websites since Google Play is not available there, lost funds as the attackers monitored and uploaded files and images from the victim's device. The fake app replaced Ethereum and Tron blockchain addresses in messages to redirect payments to the attackers. The phishing interface's backend has been shut down, but statistics reveal that one malicious Tron address received nearly 200,000 USDT ($200,000) over 110 deposit transactions. Users are advised to use official app download channels to avoid such attacks.

Tastes of the regions

Indian dismisses Plea seeking crypto trading regulations.
The Indian Supreme Court has dismissed a petition seeking guidelines for cryptocurrency regulations. The court declined to entertain the plea, stating that the primary reliefs sought were similar to legislative directions. The bench emphasized that despite being filed under Article 32 of the Constitution, the petition appeared to serve the "real purpose" of seeking bail in ongoing legal proceedings against the petitioner. The court highlighted that it cannot issue legislative directives under Article 32 and granted the petitioner the liberty to pursue appropriate remedies through the legal system. The decision underscores the need for legislative action in framing guidelines for cryptocurrency trading and mining in India.

South Korea’s Bithumb is planning for IPO.
South Korean cryptocurrency exchange Bithumb is reportedly planning an initial public offering (IPO) on Kosdaq in the second half of 2025. The exchange has selected Samsung Securities as its underwriter for the potential IPO. Bithumb's former chair, Lee Jeong-hoon, has also returned to the company as a registered director on its board. Lee had faced accusations of fraud related to the exchange's acquisition in October 2018 but was found not guilty earlier this year.

Dictionomics
Wholecoiners 

Wholecoiners are people who own at least one whole bitcoin, the most popular and valuable cryptocurrency. The term is often used to distinguish them from other investors who own only fractions of a bitcoin, or who diversify their portfolio with other coins. Wholecoiners are usually seen as more committed, confident and loyal to the Bitcoin network and its vision of decentralized finance. However, some critics argue that wholecoiners are too risky, elitist or dogmatic in their approach to crypto investing.

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