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- #Over 100 Companies Hold Over 830,000 BTC#
According to reports as of June 19, more than 100 companies collectively hold over 830,000 BTC, worth about $86.476 billion.
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#GateRedBullRacingTour# - 📢 Gate releases its latest Reserve Audit Report!
💰 Total reserves: $10.453B
🟢 Excess reserves: $1.96B — ensuring full coverage and extra security for user assets.
Gate continues to uphold 100% proof-of-reserves and full transparency.
🔗 Read the full report: https://www.gate.com/zh/announcements/article/45617
#Spot Bitcoin ETFs Top 1.1M BTC# #May CPI Incoming# Cardano launched Cardinal, a key protocol aimed at connecting the vast liquidity of Bitcoin with the DeFi ecosystem of Cardano.
This initiative, highlighted by Cardano founder Charles Hoskinson and IOG CTO Roman Pelerin, marks their most direct step towards integrating Bitcoin.
Although it is already able to "wrap" Ordinals, Pelerin notes that the protocol is still not "production-ready," with improvements planned for version 1.0.
Cardinal allows Bitcoin holders to access DeFi services such as lending on Cardano, without relying on centralized bridges.
This is achieved through the secure "wrapping" of Bitcoin UTXO in one-to-one pegged tokens, allowing for full redemption.
The protocol utilizes a minimal trust model and MuSig2 for enhanced security, ensuring decentralization and protection against chain reorganization.
In addition, Cardinal integrates BitVMX, an offline computing system, for efficient and programmable interactions between the two blockchains. This move by Cardano promises to open up significant new opportunities for both BTC and the broader DeFi environment.