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The Hong Kong-listed company seems to be no longer interested in crypto as AI-related products generated more returns. Meitu, a Chinese software developing company, is reportedly ready to sell its cryptocurrency holdings “at the appropriate time,” roughly two years after the firm started holding Bitcoin (BTC) and Ethereum (ETH) on its balance sheet. A senior investor relations manager at Meitu told the Headline Daily newspaper in a commentary that the firm’s recent profits were mainly attributed to the subscription model of its mobile applications as well as AI-based products. As for the cryptocurrency investment, Meitu is no longer focused on cryptocurrencies and “may sell them at the appropriate time,” according to a rough translation. You might also like: China sentences former party official to life in prison for enabling crypto mining Meitu first entered the crypto market a few years ago, when the firm purchased BTC and ETH worth aroun...

The Bitcoin (BTC) price has struggled around $26,000 after Elon Musk’s spacecraft manufacturer SpaceX dumped its BTC holding s.  On the other hand, Glassnode data suggests that the number of wallets holding at least 1 BTC has reached an all-time high (ATH) of 1,015,299 despite the bearish market sentiment. Per the on-chain data provider, the addresses have risen since late 2021, when BTC hit an ATH of $68,790. #Bitcoin $BTC Number of Addresses Holding 1+ Coins just reached an ATH of 1,015,299 Previous ATH of 1,015,241 was observed on 20 August 2023 View metric:https://t.co/s7tx1xxyz3 pic.twitter.com/DsYGzzLEhV — glassnode alerts (@glassnodealerts) August 21, 2023 You might also like: BNB Chain’s cross-chain bridge exploit shakes crypto community Moreover, BTC short-term traders have also risen with the recent price downturn. According to Glassnode, the amount of BTC supply active between a week and one month just dropped to 680,353.028 BTC, marking a 30-day low. ...

Recently, a tweet from David Schwartz, the chief technology officer (CTO) at Ripple, sparked a debate about the decentralization of XRP and Ripple’s influence over it. Schwartz’s tweet was a response to a user’s comment about Ripple’s large holdings of XRP. The user suggested that Ripple’s significant ownership could potentially allow it to manipulate the price of XRP, thereby making the system less de central ized. Schwartz countered this argument by stating that Ripple’s ownership of XRP does not give it control over the ledger or its governance. He further challenged critics to explain how Ripple could use its supposed control to cause harm, suggesting that it simply cannot be done. You might also like: XRP is up 2% amid decentralization discussions De central ization is a key value proposition of cryptocurrencies. It refers to the distribution of authority, control, and influence across a network, rather than being concentrated in a...