Crypto News 11/04: Whales are accumulating large amounts of Bitcoin along with NFT news, Block

From the observation that whales are accumulating large amounts of Bitcoin to the Democratic Party criticizing the DOJ's 'serious mistake' in disbanding the crypto investigation unit, here are some of the highlights in the market.

Bitcoin News

According to data from CryptoQuant, April 9, 2025, recorded one of the largest allocations ever into Bitcoin accumulation addresses, with a net inflow of 48,575 BTC, the highest since February 1, 2022.

Estimated at a trading price of about $76,000 at that time, the total inflow value reached approximately $3.6 billion.

Source: CryptoQuantNotably, this capital flow emerged right after the wave of sell-offs due to concerns over escalating US-China trade tensions, sparked by recent statements from President Donald Trump regarding tariffs.

Accumulation addresses are often seen as wallets for long-term investors, organizations, or individuals who tend to buy during market corrections. The event on April 9 once again showed that they react quickly to large market fluctuations.

Interestingly, the cash flow on April 9, 2025, coincides in value with the large cash flow on February 1, 2022, also around 3.6 billion USD, despite being nearly 3 years apart and in very different macroeconomic contexts.

Both time points coincide with significant changes in the global market.

The active resurgence of accumulation addresses could be a noteworthy signal for investors.

Ross Ulbricht speaks at the Bitcoin Conference in Las Vegas

Ross Ulbricht, the founder of Silk Road, will make his first public appearance since being released from prison earlier this year, speaking at the Bitcoin Conference in Las Vegas from May 27 to May 29.

This news, announced by Ulbricht on X on April 10, after President Donald Trump's commutation in January, ends his time in custody.

Trump granted Ulbricht a "full and unconditional pardon," citing support from the Freedom Movement and calling the sentence "unreasonable."

From 2011 to 2013, Ulbricht operated the Silk Road marketplace under the alias "Dread Pirate Roberts."

NFT News

The rare CryptoPunk NFT #3100 has just been sold for 4,000 ETH (, approximately 6 million USD ), a sharp decline from the 4,500 ETH (16 million USD ) it was purchased for last March. This represents a loss of nearly 10 million USD due to the significant drop in ETH price.

According to CryptoSlam, last year's transactions ranked third among the largest NFT deals in history. Although CryptoPunks was once the NFT icon, the trading volume of this collection, along with BAYC, Azuki, and Pudgy Penguins, has decreased significantly since 2022.

Yuga Labs, the owner of the IP, also announced that it will not interfere with CryptoPunks anymore.

Block News

Block Inc., the company behind Cash App and led by Jack Dorsey, was (NYDFS) fined $40 million by the New York Department of Financial Services.

The penalty announced on April 10 stems from widespread shortcomings in the (AML) anti-money laundering system and the company's compliance related to virtual currency activities.

NYDFS Director, Adrienne Harris, stated that companies must expand their compliance programs in line with their growth. She noted that Block's shortcomings created avoidable gaps that could have been addressed with proper oversight.

Other news

Democrats criticize DOJ's 'serious mistake' in disbanding the crypto investigation unit

U.S. Senator Elizabeth Warren, who has been critical of crypto, led six Democratic Senators urging the Department of Justice to reverse its decision to disband the crypto investigation and prosecution unit.

In an April 10 letter to Deputy Attorney General Todd Blanche, the senators said the department's decision to disband the department's National Crypto Enforcement Team was a "grave mistake" that will assist criminals "evading sanctions, drug trafficking, fraud and child sexual exploitation."

Besides Warren, Senators Richard Durbin, Mazie Hirono, Sheldon Whitehouse, Christopher Coons, and Richard Blumenthal have signed the letter.

On April 7, Blanche disbanded the cryptocurrency enforcement team of the Department of Justice, stating that "the Department of Justice is not a regulatory agency for digital assets."

You can see the coin price here.

Disclaimer: This article is for informational purposes only and is not investment advice. Investors should conduct thorough research before making any decisions. We are not responsible for your investment decisions.

• CryptoQuant: Major reversal signals from the behavior of long-term Bitcoin investors
• Trump signs the first cryptocurrency law, abolishing regulations against DeFi
• Litecoin surpasses $100? Trump temporarily suspends tariffs, hopes for a rise in ETFs

Viet Cuong

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