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Satoshi-Era BTC on Move, On-chain Data Finds
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Satoshi-Era BTC on Move, On-chain Data Finds

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On-chain analytics platform Glassnode noted in a recent tweet that 15 years after Laszlo Hanyecz made history by spending 10,000 BTC (now worth $1.1 billion) on two pizzas, some of those early-era Bitcoins are still moving.

According to Glassnode, Bitcoin from the Satoshi era, which refers to the period when the Bitcoin creator was still active in the crypto space, is quietly shifting on-chain. These ancient wallets, which were formerly deemed dormant, have seen fresh activity in recent months.

Glassnode observed that the >10-year cohort’s share of Bitcoin’s Realized Cap has dropped from a peak of 0.045% to 0.033%. Notably, this decline accelerated between December and February and has picked up again since April 20.

15 years after Laszlo bought pizza for 10,000 $BTC – now worth over $1.1B – some of that era’s coins are still moving.

The >10y cohort’s share of #BTC‘s Realized Cap fell from peak 0.045% to 0.033%, with steep declines from Dec–Feb and again since Apr 20.#Bitcoin #PizzaDay pic.twitter.com/FoGbgG01Ba

— glassnode (@glassnode) May 22, 2025

The timing of the reawakening of these ancient coins in December to February as well as in April aligns with the rise in the price of Bitcoin. Bitcoin reached six figures for the first time in December, peaking in January at $109,114, following which the price fell.

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Bitcoin revived its uptrend from lows of $74,553 in April, with its recent surge casting the spotlight on early holders, including its mysterious creator Satoshi Nakamoto, whose net worth has recently pushed higher in the top global rankings.

Bitcoin reaches all all-time high on Pizza Day

Bitcoin hit a new all-time high of $111,903 on the 15th anniversary of Bitcoin Pizza Day.

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In 2010, Laszlo Hanyecz performed the first known commercial Bitcoin transaction, purchasing two pizzas for 10,000 BTC. The 10,000 BTC used for the pizza transaction are now worth over $1.1 billion, demonstrating the cryptocurrency’s extraordinary growth in value.

Bitcoin’s price climbed to fresh highs above $111,000, sparking unprecedented activity on the Deribit options market. Deribit’s open options contracts totaled a record $42.5 billion, showing elevated market interest.





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Fire Breaks Out at a Data Center Leased by Elon Musk’s X
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Fire Breaks Out at a Data Center Leased by Elon Musk’s X

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A fire broke out Thursday morning at a data center in Hillsboro, Oregon, leased by Elon Musk’s X, forcing an extended response from emergency crews, according to multiple sources who spoke to WIRED. The sources required anonymity as they aren’t authorized to speak publicly about the company.

Firefighters arrived at the Hillsboro Technology Park, in a suburb west of Portland, at 10:21 am, according to Hillsboro Fire and Rescue spokesperson Piseth Pich. They found a room with batteries that were deemed to be involved in the fire. Pich noted that the fire had not spread to other parts of the building, but said the room in question was heavy with smoke. As of 3:00 pm, the crew was still on the scene.

X did not immediately respond to a request for comment from WIRED. It could not be learned whether server operations at the data center had been affected by the incident.

Before Elon Musk bought Twitter, the company had three data centers in Sacramento, Portland, and Atlanta. This ensured that if one data center went down, traffic could be shifted to the other two—and split so no single data center was overwhelmed.

Around Christmas Eve 2022, Musk shut down X’s data center in Sacramento in an effort to cut costs. The company experienced a major outage in the wake of the shutdown. Over the next six months, the company moved more than 2,573 server racks from the Sacramento facility to data centers in Portland and Atlanta, according to internal documents.

In the Portland area, X appears to lease space from a building that has been linked to Digital Realty, one of the world’s largest developers of data centers. Digital Realty provides varying levels of operating support at its sites, which can have one or more tenants. It’s unclear if X shares this facility with other companies.

Ryan Young, vice president of Americas operations for Digital Realty, said in a statement to WIRED on Thursday evening that the “fire-related incident at our PDX11 facility” had been contained and that the fire department had left. “All personnel were safely evacuated, with no reported injuries,” Young stated. “We continue to monitor the situation, prioritizing the safety of our personnel, the integrity of the facility, and minimizing customer impact.”

Young declined to comment on customers.

Batteries often function as a backup power source at data centers. But lithium-ion varieties can be volatile, and issues with upkeep and inadequate safety measures have contributed to costly blazes at data centers around the world. Pich, the Hillsboro Fire Department spokesperson, says he could not recall any previous fire involving batteries in the Oregon region’s many other data centers.

X’s parent company, xAI, has taken criticism in recent months for its rapid expansion of power capacity at a new data center in Memphis, which opened last year. That facility, which Musk named Colossus, was built up at breakneck speed to train xAI’s Grok and other AI tools. The company installed more than 30 methane-powered gas turbines, but because the turbines are temporary, a federal permit for pollution control isn’t required, which appears to exploit a loophole in the Clean Air Act. The facility has drawn widespread criticism from surrounding Black and brown communities, who are already exposed to a large amount of air pollution and industrial emissions from other facilities in the area.

Update 5/22/25 11:03 ET: This story has been updated to include additional comment from Digital Realty.



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X is experiencing a data center outage
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X is experiencing a data center outage

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If you had trouble using X today, you’re not alone. DownDetector reports that over 5,000 people have reported issues accessing the social media platform as of 4PM ET. X’s official Engineering account claims the issue is due to a data center outage.

“X is aware some of our users are experiencing performance issues on the platform today,” X’s Engineering account writes. “We are experiencing a data center outage and the team is actively working to remediate the issue.” The platform last experienced a major outage in March 2025. At the time, X CEO Elon Musk blamed the outage on a “massive cyberattack.” Security researchers who looked into the issue later said it was poor security on X’s part that left the company’s servers vulnerable to attack.

X is aware some of our users are experiencing performance issues on the platform today. We are experiencing a data center outage and the team is actively working to remediate the issue.

— Engineering (@XEng) May 22, 2025

Update, May 22, 6:30PM ET: Users are still reporting problems accessing X, though at a lesser rate than its peak of 3:40PM ET. The X Engineering report has not posted an update since its original tweet.

Update, May 22, 9:35PM ET: X is still experiencing site-wide outage. Wired has reported that a fire broke out at a data center leased by Elon Musk in Hillsboro, Oregon. It’s not quite clear if that has anything to do with the current outage.





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No, Bitcoin Price Is Not Overheated Yet, Bullish Data Emerge On-chain
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No, Bitcoin Price Is Not Overheated Yet, Bullish Data Emerge On-chain

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The leading digital currency Bitcoin (BTC) has kept investors speculating since May 8, when it breached the $100,000 level. Many anticipated a bullish rally above its current all-time high (ATH) of $109,114, but this has yet to happen, leading some to believe that Bitcoin is overheated.

NVT golden cross signals market still in safe zone

However, per CryptoQuant insights, a Bitcoin on-chain metric, the Network Value to Transaction (NVT) has not signaled overheating yet.

According to CryptoQuant, Bitcoin NVT Golden Cross has reached 1.51 points, which is still some comfortable points away from the overheated zone of 2.2.

NVT Golden Cross Doesn’t Signal Overheating Yet

“Historically, readings above 2.2 have signaled the beginning of overheated conditions. While we’re not there yet, the rising trend deserves attention.” – By @burak_kesmeci pic.twitter.com/YaClQtHt6F

— CryptoQuant.com (@cryptoquant_com) May 21, 2025

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Notably, the NVT Golden Cross is a valuation tool that compares Bitcoin’s market capitalization to the network’s transaction volume. This comparison aims to show whether the asset is overvalued or undervalued in the short term.

Although it does not have a 100% accuracy rate, a value above 2.2 has historically marked periods when BTC is tagged overheated. Due to speculation, the asset is experiencing a price increase faster than real network usage.

The current value of 1.51 highlighted by CryptoQuant suggests that although the metric is climbing and investors should pay attention, it does not constitute a red flag yet.

However, traders might want to monitor the development closely to avoid being caught unawares while making speculative guesses.

Bitcoin investor appetite on rise

The update appears necessary as Bitcoin has seen a spike in investor interest on the crypto market. 

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As reported by U.Today, Bitcoin Open Interest recently hit $74 billion as the price rallied, triggering renewed confidence among traders betting on the futures market.

Meanwhile, institutional interest has also increased, with Bitcoin exchange-traded funds (ETFs) recording impressive inflows. According to data, a total of $329.02 million of inflows were recorded on May 20, 2025, on the Bitcoin ETF market.

According to CoinMarketCap data, the Bitcoin price has increased by 1.59% to $106,654.59 in the last 24 hours.





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Coinbase Data Breach Will ‘Lead to People Dying,’ TechCrunch Founder Says

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In brief

  • TechCrunch founder Michael Arrington has claimed that a recent data breach at Coinbase “will lead to people dying.”
  • Arrington’s claim comes amid a wave of kidnap attempts targeting high-net-worth crypto holders.
  • Former Coinbase CTO Balaji Srinivasan argued that the fault lies with state-mandated KYC data collection.

The founder of online news publication TechCrunch has claimed that Coinbase’s recent data breach “will lead to people dying,” amid a wave of kidnap attempts targeting high-net-worth crypto holders.

TechCrunch founder Michael Arrington added that this should be a point of reflection for regulators to re-think the importance of know-your-customer (KYC), a process that requires users to confirm their identity to a platform. He also called for prison time for executives that fail to “adequately protect” customer information.

I am a long time investor in and champion of @coinbase. Something that has to be said though – this hack – which includes home addresses and account balances – will lead to people dying. It probably has already. The human cost, denominated in misery, is much larger than the $400m… pic.twitter.com/ruSYKAGH7x

— Michael Arrington 🏴‍☠️ (@arrington) May 19, 2025

“This hack—which includes home addresses and account balances—will lead to people dying. It probably has already,” he tweeted. “The human cost, denominated in misery, is much larger than the $400 million or so they think it will actually cost the company to reimburse people.”

On Thursday, Coinbase announced that cybercriminals tried to blackmail the exchange into paying $20 million in Bitcoin over the stolen customer data—which it refused to pay. Instead, the company put out a $20 million award for any information that would lead to the “arrest and conviction” of the attackers. The crypto exchange has also pledged to reimburse any customers that were tricked into sending funds to the attackers.

The U.S. Justice Department has since opened a probe into the data breach, Bloomberg later reported.

But for Arrington, who also founded venture capital firm CrunchFund and hedge fund Arrington Capital, this isn’t enough. He believes that people are in immediate physical danger following the breach, which exposed data including names, addresses, phone numbers, emails, government-ID images, and more.

Arrington said that he was a “long time” investor in Coinbase but did not respond to Decrypt’s request for comment in what capacity this investment was made. Coinbase also did not respond to Decrypt’s request for comment.

Crypto kidnap attempts

A number of high-profile kidnapping attempts has heightened concerns over the safety of crypto owners with significant holdings.

In January, Ledger co-founder David Balland was abducted from his home in France alongside his wife. The pair were held captive for roughly 24 hours, with the kidnappers “mutilating” Balland’s hand as part of their ransom demand, before local law enforcement recovered the executive and his wife.

In March, popular streamer and OnlyFans personality Kaitlyn “Amouranth” Siragusa was the victim of a home invasion by three armed attackers who physically assaulted her while ordering her to transfer her Bitcoin to them. She managed to fire her gun, causing the attackers to flee the scene.

In May, the father of a crypto millionaire was rescued by French authorities after being held hostage for days—but not without having his finger severed by the kidnappers. A week later there was an attempted but failed kidnapping of a woman and her child, relatives of a leading figure in France’s crypto industry.

As a result of these and other incidents, an Amsterdam-based physical security firm told Bloomberg that it had noticed an uptick in clients with large crypto holdings, prior to the Coinbase breach.

The risks of KYC data

Arrington believes that in the wake of these attacks, crypto companies that handle user data need to be much more careful than they currently are.

“Combining these KYC laws with corporate profit maximization and lax laws on penalties for hacks like these means these issues will continue to happen,” he tweeted. “Both governments and corporations need to step up to stop this. As I said, the cost can only be measured in human suffering.”

I disagree the problem is execs. The problem is the state.

The state forces companies to collect KYC data that they do not want to collect. This issue is much bigger than crypto, and regulation is the actual thing to target.

With ZK, no need for KYC.https://t.co/kszGEy2tuZ

— Balaji (@balajis) May 20, 2025

Former Coinbase chief technology officer Balaji Srinivasan pushed back on Arrington’s position that executives should be punished, arguing that regulators are forcing KYC onto unwilling companies.

“When enough people die, the laws may change,” Arrington hit back.

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