💡 Bitcoin wallets holding over 1 BTC cross 1 million!

Bonjour! Welcome to the latest edition of Coinsauce's daily crypto roundup💪 It's a brand new day in the world of digital currencies, and we are here once again to help you make sense of it all

Trending over the weekend 👇️ 

1. 💪 1 million strong - Bitcoin addresses HODLing <1 BTC surpass the 1 million mark.

2. 😥 Farewell! - Binance halts operations in Canada, citing regulatory woes.

3. 🙏 Lost and Found - Former users of the defunct exchange QuadrigaCX set to receive 13% of lost funds.

One in a million 💰️ 

Mini HODLers, Big Dreams! According to glassnode, the number of unique wallets holding 1 BTC or more has now surpassed 1 million! At current prices, holding a full bitcoin is equal to roughly half the median US salary❗

Despite the brutal bear market, the number of holders accumulating BTC is constantly on the rise, signaling bullish long-term sentiments by the investors⚡ A total of 2.1% of all non-zero Bitcoin addresses now own 1 entire BTC or more.

One bitcoin address doesn’t always represent one person, so this doesn’t necessarily mean one million people own 1 BTC. Certain individuals control multiple bitcoin addresses, while some addresses may also belong to institutions or groups of people.

With only ~1.8 million BTC left to be mined and over 1.46 million BTC already lost forever, it is needless to say that it is never a bad time to buy more BTC! (Not Financial Advise)

Binance calls it a day in Canada 🇨🇦 

Binance says "au revoir" to Canada, citing new stablecoin guidance and investor limits as the reasons for their departure. Sadly, they're not the first to do so. Crypto companies like OKX and Paxos have also withdrawn from the nation due to regulatory hurdles.

The new Canadian Securities Administrators rules prohibit firms “from permitting Canadian clients to enter into crypto contracts to buy and sell any crypto asset that is itself a security and/or a derivative” and define stablecoins as a security 🙈 

They gave crypto trading platforms until March 23 to register with them, with strict requirements for compliance and segregation of crypto custody. Non-compliance meant the end of the line.

Despite holding out as long as they could, Binance finally had to call it a day. Looks like Canada's crypto regulation got a bit too chilly for Binance 🥶 

A bright spot for QuadrigaCX victims ☀️ 

QuadrigaCX users are finally getting some good news after the exchange went bust in early 2019. After the death of its CEO lead to the loss ~$200 million in crypto held in a private wallet, former users of the defunct exchange are set to receive a payout of 13% of their claim in good ol' fiat money🙏

Documents from accounting firm EY shows Quadriga’s estate owes $222.3 million across 17,648 claims from creditors. 15,356 of these creditors are owed between $0 to $10,000, while 1,784 are owed between $10,000 and $49,999.

Former QuadrigaCX users with bitcoin claims will receive $5,542 per BTC, and Ethereum holders will get $184 per ether. While it's not worth a lambo early investors were hoping for, at least it's a little something-something to ease the pain 😅

Meme of the day

The US government is raising the debt ceiling year after year like... 😂 

That’s all for today’s roundup! We hope you've enjoyed your daily dose of crypto news with a side of sass. Remember to subscribe to the newsletter for such daily updates and insights! Until next time, keep HODLing and stay saucy 😅 

Disclaimer: This newsletter is educational and does not constitute financial advice. You must exercise caution and conduct your research before making any financial decisions.