FBI Breaks Silence about BTC Creator Satoshi Nakamoto, XRP Sees $12 Billion Real Trading Volume Surge, Arthur Hayes Predicts Epic Altcoin Season: Crypto News Digest by U.Today

U.Today - Here are the top three news stories over the past day presented to you by U.Today.

FBI breaks silence about Bitcoin creator Satoshi Nakamoto

Dave Troy, prominent investigative journalist and entrepreneur, has recently made a Freedom of Information Act (FOIA) request to the FBI, in which he asked for information about Satoshi Nakamoto, anonymous creator of Bitcoin. The bureau responded to the request, stating that Satoshi could be "one or more third-party individuals" and that it can "neither confirm nor deny" the existence of records about them. As follows from Troy's comment to the FBI's response, this is a typical answer for requests concerning non-U.S. persons. The journalist wrote that he intends to appeal the response, adding that his goal is not to identify the person behind the pseudonym, but to obtain any information the FBI may have on the subject.

XRP sees $12 billion surge: What's happening?

XRP has recently witnessed a substantial increase in its real trading volume; according to on-chain data, this metric grew by $12 billion. It often correlates with increased market activity and can potentially impact price movements. The increase in volume implies a new interest in XRP, which could be a result of a change in the sentiment of the institutional interest market, or major transactions made by large holders. When volume rises, more people usually enter the market, either as buyers or sellers. When it comes to XRP, this could suggest that investors are gearing up for a future move, possibly due to speculation or in reaction to recent developments on the cryptocurrency market. However, despite the increase in volume, XRP's market cap dominance remains low - about 1.4%.

Arthur Hayes predicts epic altcoin season, but only after this

BitMex cofounder Arthur Hayes recently released an essay entitled "Water, Water, Everywhere," in which he shared his opinion on the future prospects of the crypto market. Hayes believes that the market is about to face a dramatic shift. He underlined the apparent correlation between a decline in funds inside the reverse repurchase agreement (RRP) market and an increase in the Bitcoin price. As more money flows into the system from the RRP, asset prices, including cryptos, are expected to grow. Hayes is optimistic about Bitcoin's future, speculating that it could reach $100,000 in the near future and $1,000,000 in the long run. Another prediction by the BitMex cofounder touches on the topic of altcoins; according to Hayes, we will see the full-fledged altcoin season only when Bitcoin and Ethereum break through the $70,000 and $4,000 levels.

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