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Protos

@Protos

Jul 28 • 5 tweets • 1 min read • Read on X

🤨 DID SOMEONE CASH OUT STOLEN BTC?

The largest bitcoin sale in history happened when 80,000 $BTC (~$9B) was sold OTC through @galaxyhq.

CryptoQuant CEO @ki_young_ju now suggests the coins might have originated from the 2011 MyBitcoin exchange hack, dormant for 14 years... 🧵

The timing adds up: @arkham confirmed the coins originated in April-May 2011 and had only transferred into eight new wallets as of early July 2025.

The 80,000 $BTC amount roughly matches what MyBitcoin executive Tom Williams admitted to losing in 2011.

MyBitcoin lost about 51% of 154,406 $BTC according to Williams, while Wikipedia contributors estimated approximately 78,000 BTC was lost.

The sale amount falls right in that range, suggesting these could be the long-lost coins finally surfacing after 14 years.

Galaxy Digital's @novogratz said his client was selling for "estate planning reasons" but didn't comment further.

The transaction happened off-blockchain with "no blockchain crumbs" - either by sweeping keys, during July 4-5 on-chain movements, or via legal contracts.

https://x.com/Protos/status/1949789814636605454

Galaxy published its press release as an OP_RETURN in an unrelated transaction between known Galaxy clients.

The buyer and seller didn't actually transact on July 25 when the press release was issued, adding to the mystery of this historic BTC sale ⤵️

https://x.com/Protos/status/1949789814636605454

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More from @Protos

Protos

@Protos

Jul 25

🧐 XRP’S MISSING HISTORY

Ripple launched the $XRP Ledger in June 2012 and lost all data by New Year's Eve due to a bug that caused ledger headers not to be saved.

All servers running at the time had the same bug, according to founder @JoelKatz.

Here's what happened... 🧵

The first verifiable ledger is 32,570 on January 1, 2013, which founders relabeled as the "Genesis ledger."

Without the missing headers, the public cannot reconstruct 534 transactions from those early ledgers, including the most important ones in XRP's history.

Those lost transactions include the $XRP pre-mine: founders created 100 billion coins by fiat, allocated 80% to Ripple companies and kept 20% for themselves.

All XRP users today must trust statements from people who operated the network in 2012 about these massive allocations.

Read 5 tweets

Protos

@Protos

Jun 12

🚨 MICROSTRATEGY DIRECTOR DUMPS ENTIRE STAKE

Carl Rickertsen just cashed out ALL his $MSTR shares for $10M+ while the company keeps buying $BTC.

When directors quietly exit, investors should pay attention.

What does he know that Saylor fans don’t? 🧵

💸 The pattern is telling:

Rickertsen bought $700K of MSTR in 2022, sold half in 2023, and now dumped everything.

He’s even exercising stock options and selling shares on the SAME DAY - not exactly a vote of confidence from someone with insider knowledge.

“Insiders might sell for many reasons, but they buy for only one: they think the price will rise” - Peter Lynch.

😶‍🌫️ Well, ZERO insiders have bought $MSTR in 2025. Instead, there have been 26 insider sales this year alone.

5 year score: Insider sales exceed purchases by $864M.

Read 5 tweets

Protos

@Protos

May 10, 2023

🔴 We’re live tweeting today’s US House joint committee hearing.

Starting in ~15 mins.

🔔 Turn on notifications and stay tuned

Today's hearing is entitled: "The Future of Digital Assets: Measuring the Regulatory Gaps in the Digital Asset Markets" and more details can be found here: financialservices.house.gov/calendar/event…

Attached to this hearing is a new resolution, specifically "Resolution Expressing Support for Blockchain Technology and Digital Assets", a four page resolution which affirms the need for a new regulatory framework for digital assets docs.house.gov/meetings/BA/BA…

Read 97 tweets

Protos

@Protos

Mar 10, 2023

1/ Silvergate’s liquidation has contributed to a drop in crypto and US bank stock prices.

Short sellers have made $780M on Silvergate, down 98% from a November ‘21 peak.

How did the crypto-friendly bank get here?

2/ In ‘20, Silvergate launched a controversial system to move funds between its accounts 24/7, called Silvergate Exchange Network.

SEN gave access to US dollar loans with bitcoin as collateral.

By the fall of ‘20, SEN completed $100B worth of transfer volumes.

3/ Silvergate said it processed $160B in digital asset transfers in Q3 ‘21, up 300% from Q3 ‘20.

In November '21, stock price peaked at $239.

In April '22, stocks jumped 13% after Silvergate released Q1 '22 earnings – beating analyst estimates by 75%.

Read 9 tweets

Protos

@Protos

Feb 14, 2023

♥️

🌹

😘

Read 4 tweets

Protos

@Protos

Nov 22, 2021

ICYMI, the top crypto news stories from Friday:

- Hard-partying crypto player Moshe Hogeg arrested for fraud, sex offenses
- This artist "right-clicked" a billion dollars worth of NFTs so you don't have to
- Why Satoshi Nakamoto's gigantic Bitcoin stash is probably lost forever