Bitcoin Whale Transfers 99 BTC After 11.7 Years

Cryptocurrency

Summary:

A Bitcoin whale, silent for 11.7 years, has made a move, transferring 99 BTC worth $11.5 million. This move may indicate that early holders are taking profits, potentially increasing short-term market volatility and drawing attention to future trends.

• A dormant Bitcoin whale address moves 99 BTC worth $11.5 million.

• No known identity or public statements from the wallet owner.

• Potential influence on short-term market volatility and sentiment.

Bitcoin Whale Transfers 99 BTC After 11.7 Years

An ancient Bitcoin whale address, dormant for over 11.7 years, moved 99 BTC, valued at approximately $11.5 million, highlighting a rare activity in the cryptocurrency market today.

This movement could signal potential shifts in BTC market dynamics, suggesting profit-taking or strategic reallocations by early holders, impacting market sentiment and exchange monitoring efforts.

An ancient Bitcoin whale with an address dormant for over 11.7 years has just moved 99 BTC, valued at $11.5 million. Blockchain records identify the address first received funding in late 2013 or early 2014.

The specific owner of the wallet remains unknown, with no connections to established industry figures. The transferred funds were likely moved between personal wallets without institutional involvement.

This transfer affects the Bitcoin (BTC) market by attracting attention to the potential for early holders to liquidate. Though the movement itself doesn't directly influence other cryptocurrencies like ETH, it draws curiosity from market observers.

Historically, Bitcoin whales awakenings can lead to speculation of a market sell-off, resulting in short-term price dips. As Arthur Hayes, Former CEO of BitMEX, noted, "Whale activity is the hidden hand behind short-term volatility, but long-term holders continue to shape Bitcoin’s supply curve." The absence of a direct exchange deposit from this whale tempers immediate concerns.

Previous events have shown that direct deposits by whales to exchanges can significantly impact the market. This transaction, however, remains off-exchange, reducing immediate market pressures.

Analysis of similar recent events suggests increased whale activity correlates with heightened market volatility. As such movements often foreshadow upticks in exchange inflows, they may trigger minor price corrections or shifts in market sentiment.

Source: CryptoSlate

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Samantha Luan

Economic

Forex

Political

An image of U.S. President Donald Trump alongside disgraced financier Jeffrey Epstein is projected on Windsor castle, after U.S. President Donald Trump and first lady Melania Trump arrival for a state visit to the country, in Windsor, Berkshire, Britain Sept. 16, 2025.

Four people were arrested Tuesday night in the United Kingdom in connection with the projection of an image onto Windsor Castle showing President Donald Trump with his then-friend, notorious sex offender Jeffrey Epstein.The stunt came as Trump began a state visit to the U.K., and as the president has been dogged by months of controversy over the Justice Department's decision not to release law-enforcement files related to Epstein.The Independent newspaper reported that, in addition to the image showing Epstein in 1997 with Trump at the president's Mar-a-Lago club in Florida, other images projected onto Windsor Castle included Trump's mugshot from when he was charged in Atlanta with crimes related to his effort to undo his 2020 election loss in the state of Georgia.

Windsor Castle, which is a royal residence of King Charles III, is located about 25 miles outside London.Thames Valley Police, whose jurisdiction includes the castle, said in a statement, "Four adults were arrested on suspicion of malicious communications following a public stunt in Windsor."

"All four remain in custody at this time," police said.

"We take any unauthorised activity around Windsor Castle extremely seriously," said Chief Superintendent Felicity Parker. "Our officers responded swiftly to stop the projection and four people have been arrested.""We are conducting a thorough investigation with our partners into the circumstances surrounding this incident and will provide further updates when we are in a position to do so," she said.

Portrait of American financier Jeffrey Epstein, left, and Donald Trump as they pose together at the Mar-a-Lago estate in Palm Beach, Florida, in 1997.

Trump and Epstein had been friends for years before the two men fell out in the mid-2000s.Epstein, 66, killed himself in a federal jail in Manhattan in August 2019, a month after being arrested on child sex trafficking charges lodged by a U.S. Attorney whom Trump had appointed.King Charles' brother, Prince Andrew, has been tainted by his own friendship with Epstein. In January 2022, Andrew's mother, the late Queen Elizabeth, stripped him of his military affiliations and royal patronages as he fought a New York lawsuit that accused him of sexually abusing an underage girl while she was in Epstein's control.

Melania Trump, Prince Andrew, Gwendolyn Beck and Jeffrey Epstein at a party at the Mar-a-Lago club, Palm Beach, Florida, February 12, 2000.

Andrew denied any wrongdoing, but a month after the queen's move, he settled out of court that lawsuit by the accuser, Virginia Giuffre, on undisclosed terms.But that document also said that Andrew, 61, will make "a substantial donation to Ms. Giuffre's charity in support of victims' rights."Last week, U.K. Prime Minister Keir Starmer fired the British ambassador to the U.S., Peter Mandelson, after a U.S. House committee released documents related to Epstein, which included a letter from Mandelson in which he called the sex offender his "best pal."Epstein's accomplice, Ghislaine Maxwell, is serving a 20-year prison term after being convicted of procuring underage girls to be sexually abused by him.

Source: CNBC

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Daniel Carter

Political

On Aug. 1, several hours after her agency reported weak jobs growth in July and substantial downward revisions to the prior two months, McEntarfer said she was contacted by a reporter requesting comment on a social media post from President Donald Trump calling for her immediate firing.

"To be honest, I didn't actually believe I had been fired," McEntarfer said in prepared remarks at an event Tuesday at her alma mater, Bard College.

That's when she noticed a message in her inbox that arrived 20 minutes earlier from the White House Office of Presidential Personnel. The two-sentence email, which was seen by Bloomberg News, read as follows: The event marks McEntarfer's first public appearance since her dismissal. In her prepared remarks, the economist recalls the disbelief that ensued on a day that started as a typical first Friday of the month — when the government's monthly employment report is published.

Her very public firing from the relatively obscure, technocratic role has set off concerns on Wall Street and in Washington about the independence and integrity of the nation's gold standard economic data.

In his initial post around 2 p.m. and another later that afternoon, Trump claimed, without evidence, that the figures were manipulated for political purposes, and stressed that the numbers must be "fair and accurate."

In reality, commissioners are barely involved in the highly computerized processes of compiling data. Past officials who held the job before McEntarfer have said they would only see the numbers once they're finalized, not long before the president does.

McEntarfer said that she briefed the White House on the report the day before it was published, and spoke to the head of the Labor Department, which oversees the BLS, at 8 a.m. that Friday morning, half an hour before the release.

"I explained to the Secretary that the negative skew in job growth among the late reporting firms was an unusual event, but not an unprecedented one," McEntarfer said in her remarks. While that can indicate the start of a recession, she said she explained that wasn't necessarily the case this time around as other labor data were holding up.

"The faces around the table were glum. Let's face it, this isn't the kind of news that any administration wants to hear," she continued. "I asked if anyone had any questions on the revisions before we moved on to the July numbers. There were none, so we moved on."

Shortly after the report came out, Labor Secretary Lori Chavez-DeRemer said on Bloomberg Television that while the revisions were "unexpected," they were mostly concentrated in education and the seasonal workforce. She largely focused on positive aspects of the economy, including all the jobs added since Trump took office and that he delivered on trade deals, which was similar to her official statement on the jobs data.

By that afternoon, she raised her concerns about the revisions in a post on X supporting Trump's decision to dismiss McEntarfer: "I agree wholeheartedly with @POTUS that our jobs numbers must be fair, accurate, and never manipulated for political purposes."

Trump has since picked EJ Antoni, chief economist at the Heritage Foundation, to step into the role. His choice drew criticism from professional peers of both political ideologies for his vocal MAGA views and lack of experience. Antoni is awaiting a Senate confirmation hearing, and it's unclear whether he will secure the necessary support given "extreme reservations" from a key Republican senator.

Since McEntarfer's dismissal, the BLS has revised jobs data further and drawn additional criticism from the White House, which called the preliminary benchmark revisions released Sept. 9 "another blunder in the lengthy history of inaccuracies and incompetence at BLS."

Economists and statisticians say that monthly payrolls revisions are routine, because the BLS continues to collect additional information from businesses that take longer to respond to the survey. Revisions ultimately make the data more accurate.

The agency has long struggled with tight budgets and staffing constraints — both of which predate Trump, but have grown more acute in his second term. The agency is increasingly relying on a statistical guessing method in a key inflation gauge to compensate for lost staff, though was recently allowed to post jobs for some workers to collect price data.

Those data collection issues, as well as the employment revisions, prompted a review of the agency's "challenges" last week by the Labor Department's Office of Inspector General.

McEntarfer was nominated by President Joe Biden in 2023 and approved with bipartisan Senate support the following year. She arrived at the agency with over 20 years of experience in the federal government, including roles at the Census Bureau and Treasury Department. She previously served as a senior economist at the White House Council of Economic Advisers under Biden.

She called her firing a "dangerous step" that has "serious economic consequences."

"That's an attack on the independence of an institution arguably as important as the Federal Reserve for economic stability," she said.

Source: Bloomberg Europe

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Daniel Carter

Central Bank

Economic

The Federal Reserve meets this week with some big items on the agenda: An important rate decision and forecast of what's ahead, combined with a healthy dose of political intrigue uncommon for central bank policymakers.

On the monetary side, the Federal Open Market Committee on Wednesday will release its ruling on where it will set the overnight borrowing rate. Along with that, officials will sketch their outlook for what's ahead for rates on the closely followed "dot plot" grid.

Politically, there will be one new Fed governor, President Donald Trump's appointee Stephen Miran, who almost certainly will dissent from the widely expected decision to lower the federal funds rate by a quarter percentage point, opting for an even bigger cut. Others may vote against the move as well, and there even could be a vote against the reduction as officials weigh softening in the labor market against worries of tariff-induced inflation.

So while the rate decision is fairly pretty much in the bag, what happens from there is anybody's guess.

"The goals of the Fed's dual mandate are in 'tension' and are likely to become more so going forward," said John Velis, Americas strategist at BNY. "Add in the growing politicization of the Fed, and things are getting complicated for the central bank."

Push for a big cut

The two-day meeting kicked off Tuesday with the swearing in of new Governor Stephen Miran, the Council of Economic Advisers' chair and staunch Fed critic. The Senate on Monday confirmed Miran, who will serve out the remainder of former Adriana Kugler's term, which runs through January.

Though he has not stated explicitly where he will vote, Miran is expected to buck the committee's decision to lower incrementally. Trump on Monday again urged the committee and Chair Jerome Powell to lower aggressively, saying in a social media post that the FOMC "MUST CUT INTEREST RATES, NOW, AND BIGGER THAN [Powell] HAD IN MIND."

In a CNBC interview Tuesday, Treasury Secretary Scott Bessent encouraged the Fed to provide a "fulsome" cut.

"President Trump's very sophisticated economically, and I think he has been right at almost every turn," he said. "The problem has been that the Fed has been behind the curve. We're hoping they will start catching up in a rather fulsome way."

Fed watchers expect Governors Christopher Waller and Michelle Bowman, both Trump appointees, also could dissent in favor of a larger move, while Kansas City Fed President Jeffrey Schmid and perhaps St. Louis Fed President Alberto Musalem might opt to favor no cut, though nothing is certain.

Regardless of the White House's demands and whatever fissures there are on the FOMC, markets are betting heavily that the Fed will stick to the quarter-point, or 25 basis point, reduction from the current target range of 4.25%-4.5%. From there, traders are assigning a better than 70% chance of cuts in both October and December, according to the CME Group's FedWatch Tool, which gauges rate cut probabilities using 30-day fed funds futures contract prices.

"The dissents would highlight the splits emerging on the committee, but still leave a much larger center group that agrees that it is time to start the recalibration process by cutting 25 [basis points] in September," wrote Krishna Guha, head of global policy and central bank strategy at Evercore ISI.

That pace may not be enough to satisfy Trump, who in addition to getting Miran confirmed has been pushing for the ouster of Governor Lisa Cook and has indicated he will replace Powell as chair when his term expires in May 2026.

Focus on Powell

However, it follows the expectation of most economists.

"The key question for the September FOMC meeting is whether the committee will signal that this is likely the first in a series of consecutive cuts," Goldman Sachs economist David Mericle said in a note. "We expect the statement to acknowledge the softening in the labor market but do not expect a change to the policy guidance or a nod to an October cut. However, Chair Powell might hint softly in that direction in his press conference."

Mericle expects the dot plot to signal two rather than three cuts "though by a narrow margin."

Indeed, Powell's choice of words at the post-meeting parley with reporters often is more important than the FOMC statement. Along with the statement and dot plot release, officials will update their forecasts for gross domestic product, unemployment and inflation.

At his Jackson Hole, Wyoming speech in August, Powell struck a slightly dovish tone, indicating it's likely policy changes are ahead while not quantifying how aggressive he thinks those moves should be.

"I think he sounds like he did in Jackson Hole, where for the first time he said the data dependency that drives our decision making has changed significantly, and we need to defend our full employment mandate more than we need to defend our inflation mandate," said Art Hogan, chief market strategist at B. Riley Wealth Management. "The tone is going to be very pragmatic, but more dovish than hawkish."

Source: CNBC

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Manuel

Stocks

Britain and the United States have agreed a technology pact to boost ties in AI, quantum computing and civil nuclear energy, with top U.S. firms led by Microsoft pledging 31 billion pounds ($42 billion) in UK investments.

The "Tech Prosperity Deal" is part of U.S. President Donald Trump's second state visit to Britain, which will include a day of pomp at Windsor Castle on Wednesday, hosted by King Charles and the royal family.

Britain said the pact included joint efforts to develop AI models for healthcare, expand quantum computing capabilities and streamline civil nuclear projects. It added that it would support economic growth, scientific research and energy security in both countries.

STARMER UNDER PRESSURE TO BOOST ECONOMIC GROWTH

British Prime Minister Keir Starmer said the deal had the potential to shape the future of millions of people on both sides of the Atlantic, and deliver growth and security.

The U.S. is Britain's single largest country trading partner, and its big tech companies have already invested billions of dollars in their UK operations.

Starmer, under pressure to reverse years of weak economic growth, now wants to pitch Britain as a destination for further investment by opting for the light touch regulation favoured by the United States in areas such as AI, as opposed to the more interventionist approach of the European Union.

The Trump administration has criticised European online safety laws and digital taxes, including those in Britain, but they were not part of the discussions over the pact.

US TECH FIRMS INVEST IN THE UK

Under the deals announced, chipmaker Nvidia said it would deploy 120,000 graphics processing units across Britain - its largest rollout in Europe to date.

It is working to deploy up to 60,000 Grace Blackwell Ultra chips with UK-based Nscale, which will partner OpenAI in a UK leg of the U.S. company's giant Stargate project and tie-up with Microsoft to establish Britain's largest AI supercomputer.

Microsoft said it would invest 22 billion pounds in total to expand cloud and AI infrastructure as well as in the supercomputer, which will be in Loughton, north-east London.

Satya Nadella, chair and CEO of Microsoft, said it wanted to ensure that America remained a trusted and reliable tech partner for Britain. Its president, Brad Smith, said relations had improved hugely since the "dark days" before the UK's antitrust regulator dropped its opposition to Microsoft's acquisition of Activision Blizzard, saying he felt "enormously better".

David Hogan, vice president for enterprise at Nvidia, told reporters the investments would "truly make the UK an AI maker, not an AI taker".

Google announced a 5 billion-pound investment, including a new data centre in Waltham Cross, north of London, and continued support for AI research through its DeepMind project.

Cloud computing firm CoreWeave said its 1.5 billion pound backing would fund energy-efficient data centres in partnership with Scottish firm DataVita, bringing its total UK investment to 2.5 billion pounds.

Other firms announcing commitments include Salesforce, Scale AI, BlackRock, Oracle, Amazon Web Services and AI Pathfinder, with investments ranging from hundreds of millions to several billion pounds.

Source: Reuters

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Manuel

Cryptocurrency

A coalition of corporate Bitcoin (BTC) holders announced the first members of the Treasury Council on Sept. 16, positioning themselves as advocates for federal Bitcoin adoption.

The Treasury Council includes nine chief executives from companies holding Bitcoin in their corporate treasuries, led by Strategy CEO Phong Le, MARA Chairman Fred Thiel, and Riot CEO Jason Les.

The group sent a formal letter to congressional leadership endorsing the BITCOIN Act while over a dozen crypto advocates met with lawmakers on Capitol Hill.

Executive Director Merris Badcock described the coalition as “an exclusive leadership body” combining corporate executives and policymakers to advance crypto’s role in treasury strategy and global finance.

The Treasury Council’s formation reflects growing corporate confidence in Bitcoin treasury strategies.

Strategy holds over 440,000 BTC, while other members, including CleanSpark, American Bitcoin Corp, and Bitdeer Technologies, maintain significant positions.

Capitol Hill advocacy push

Over a dozen crypto advocates are meeting with lawmakers on Capitol Hill on Sept. 16 to discuss and advance a Strategic Bitcoin Reserve in a coordinated movement sponsored by The Digital Chamber, Digital Power Network, and the Treasury Council.

The group offers testimony and industry expertise to support legislative advancement.

According to a post by the Digital Power Network, Nick Begich, Pat Harrigan, Michael Rulli, Bernie Moreno, and Marsha Blackburn. All lawmakers present at the meeting have also cosponsored Senator Cynthia Lummis’ reintroduced Bitcoin Act.

The legislation requires the federal government to acquire up to one million Bitcoin over five years, currently valued at approximately $116.5 billion.

Funding through Fed reserves

The initiative would be funded through Federal Reserve net earnings and Treasury certificate adjustments based on gold holdings, with updated valuations covering costs. The bill mandates establishing decentralized Bitcoin storage facilities across the US.

All acquired Bitcoin must be held for at least 20 years, and Treasury Secretaries may not sell more than 10% of their holdings in any two-year period.

President Donald Trump signed an executive order on Mar. 6 establishing a Strategic Bitcoin Reserve and Digital Asset Stockpile, directing the federal government to retain forfeited crypto as a long-term store of value.

The order uses approximately 200,000 BTC in government custody as the foundation for the reserve.

Under the current executive order, the government will not actively acquire additional assets beyond seized Bitcoin, disappointing markets that expected immediate purchases.

Treasury Secretary Scott Bessent confirmed the administration seeks budget-neutral strategies to expand Bitcoin holdings without taxpayer costs.

Source: Cryptoslate

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Manuel

Commodity

Prices for coffee futures traded in the Intercontinental Exchange in New York approached an all-time high on Tuesday as the market continues to climb amid the U.S. tariffs and a dry September in Brazil, which could hurt production.

Arabica coffee futures earlier rose to a session high of $4.24 per pound, a seven-month top and not far from the all-time peak of $4.29 per pound for the most liquid contract hit earlier this year.

The futures fell towards the end of the session with investors booking profits. Arabica closed down 2% at $4.0935/lb.

Coffee is one of the items that are keeping food prices in the United States persistently high. The Federal Reserve is meeting Tuesday and Wednesday to decide a potential rate cut, depending on their evaluation of inflation data, among other factors.

Prices for arabica coffee, the mild variety mostly used by coffee chains such as Starbucks and Dunkin Donuts, have jumped around 50% at ICE since the Trump administration applied a 50% tariff on Brazilian imports at the end of July, including green coffee.

Roasted coffee prices at grocery stores in the U.S. rose 20.9% in August from a year ago, according to Bureau of Labor Statistics data.

The South American country used to supply a third of all the coffee used in the U.S., but shipments dried up since the tariffs, rushing local roasters to grab available supplies, including certified stocks at the exchange.

"Speculative managed money funds now see two clear targets: under-covered roasters; trade and producers under heavy margin pressure, being forced to lift hedges," said U.S.-based Cardiff Coffee Trading in a note to clients.

Cardiff refers to the fact that the U.S. coffee industry had been late on hedging amid the tariff situation. Meanwhile, traders and producers, who usually take a sold position in futures, are liquidating those to avoid paying big margins to the exchange, a move that drive prices higher. Funds are taking the opportunity to boost their buying.

"I attribute most of this recent price rally to tariffs and the resulting disruption on the supply chain," said StoneX coffee broker Tomas Araujo, adding that there are also worries about the weather in Brazil.

It has been dry in Brazil this month. Rains are needed soon to stimulate the flowering phase of coffee trees, a key stage to determine fruit load looking into next year.

Robusta coffee fell 1.3% to $4,781 a metric ton.

In other soft commodites, London cocoa fell 2.1% to 5,107 pounds per ton, while New York cocoa lost 3.6% to $7,371 a ton.

Raw sugar settled down 0.6% at 15.90 cents per lb, while white sugar was little changed at $465.80/ton.