The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Coinbase Names Bitcoin Creator Satoshi Nakamoto As Potential Risk to Its Business

by Daily Hodl Staff
February 27, 2021
in Bitcoin

As the crypto exchange prepares for its initial public offering (IPO), Coinbase is warning that the pseudonymous Bitcoin creator Satoshi Nakamoto could jeopardize the firm’s business.

In its official filing with the U.S. Securities and Exchange Commission (SEC) to receive approval for an IPO, Coinbase explains that demand for Bitcoin could deteriorate or its price could decline if Nakamoto is unmasked or his coins move.

 “…the identification of Satoshi Nakamoto, the pseudonymous person or persons who developed Bitcoin, or the transfer of Satoshi’s Bitcoins [could adversely affect our business].”

Nakamoto, who mined the first 50 BTC from its genesis block in 2009, is estimated to hold around one million Bitcoin. With the current mined supply sitting around 18.6 million, the Bitcoin creator’s holdings represent more than 5% of the total supply of the flagship crypto asset.

The seven-figure BTC stash makes Nakamoto one of the richest Bitcoin holders on the planet, even exceeding the holdings of the world’s largest Bitcoin fund Grayscale. As of January, Grayscale held 3% of the existing Bitcoin supply.

The US-based cryptocurrency exchange cites regulatory uncertainty as another factor that could negatively impact its business. Per Coinbase, the actions of global regulators are a risk factor going forward especially in the event of an adversarial move against Bitcoin and other cryptocurrencies.

“[Our business may be adversely affected by] laws and regulations affecting the Bitcoin and Ethereum networks or access to these networks, including a determination that either Bitcoin or Ethereum constitutes a security or other regulated financial instrument under the laws of any jurisdiction.”

Coinbase also adds that technological advancements, specifically in digital and quantum computing, could render Bitcoin worthless and consequently harm its business.

“…development in mathematics, technology, including in digital computing, algebraic geometry, and quantum computing that could result in the cryptography being used by Bitcoin and Ethereum becoming insecure or ineffective [is another risk factor].”

Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/alphaspirit.it

Submit a Press Release

Industry Announcements

  • After $3 Million Private Sale and Seed Funding, AiONE Reveals Staking Platform
    June 9, 2023
  • TRON Mainnet Celebrates Fifth Anniversary and Stands Now As the Preferred Global Blockchain
    June 8, 2023
  • Blockchain Pioneer Acquires International Fashion House Blk DNM
    June 7, 2023
  • WOW EARN Launches Its Crypto Wallet on iOS and Google Play
    June 7, 2023
  • BinaryX and AiGC Labs Developing First AI-Powered Virtual Reality Game on the Metaverse
    June 7, 2023
  • The Importance of Crypto Payments in 2023
    June 7, 2023
  • Proof of Talk 2023 – Two Days To Restore Trust in Web 3.0 and Design the Future of the Industry
    June 7, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$25,671.88
$25,671.88
3.41%
Ethereum
$1,744.16
$1,744.16
5.49%
Cardano
$0.254838
$0.254838
19.4%
XRP
$0.494935
$0.494935
7.45%
Dogecoin
$0.060222
$0.060222
13.41%

Spotlight

  • BitMEX Founder Arthur Hayes Predicts a Bitcoin Bull Market Ahead, Says To Expect Fireworks – Here’s the Timeline
    June 3, 2023
  • Analytics Firm Santiment Says Bitcoin To Catch Up With Rallying Stocks, Updates Outlook on XRP and Litecoin
    June 3, 2023
  • Popular Crypto Analyst Bullish on One Ethereum-Based Altcoin, Says It’s Showing ‘Solid Strength’
    June 3, 2023
  • Analyst Nicholas Merten Says Hong Kong Allowing Retail Crypto Participation Is Good News – But There’s a Catch
    June 3, 2023
Coinfest Asia Banner
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2023 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2023 The Daily Hodl