According to BlockBeats, CryptoQuant founder and CEO Ki Young Ju recently stated that although the supply of stablecoins continues to grow, this increase is not enough to create significant buyer liquidity and drive up Bitcoin (BTC) prices. The current Bitcoin-to-stablecoin exchange reserve ratio, which measures the amount of Bitcoin held by exchanges relative to stablecoins, indicates that exchanges hold approximately six times more BTC than stablecoins.In September 2021, the value of stablecoin reserves was $30 billion. Currently, the total market value of stablecoins is around $166 billion. However, only 21% of stablecoins are used for trading purposes on exchanges, a significant decrease from 2021 when over 50% of the total stablecoin supply was held on exchanges for trading. Despite the continuous growth in stablecoin supply, the majority is being used for purposes other than trading in the current market cycle.Ki Young Ju noted the increasing trend of using stablecoins as a store of value or for remittance purposes. According to Chainalysis data, over 50% of remittances sent to Venezuela, Argentina, Brazil, Colombia, and Mexico between 2022 and 2023 were in stablecoins used for storing value. This trend is applicable to all high-inflation regions.

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According to CryptoPotato, a Seattle-based startup called Unciphered, consisting of white hat hackers, claimed to have cracked the IronKey S200 thumb drive containing 7002 Bitcoins in September. They sent proof to a senior writer at WIRED Magazine, but former Ripple CTO Stefan Thomas refused their offer to access the USB drive for him. Thomas informed WIRED that he had already hired another team to work on the problem and wanted to give them a fair chance at retrieving the Bitcoins before considering another company. He mentioned the possibility of subcontracting the Seattle firm if the current team fails to find a solution.

The cybersecurity firm that cracked the IronKey S200 has not revealed its method but did produce three randomly generated passphrase terms for the memory stick without prior knowledge of them. They claim it took 200 trillion tries using a high-performance computer to obtain the correct passphrase terms. This development could be a glimpse into how quantum computers might disrupt cryptocurrencies like Bitcoin and Ripple in the future. Thomas, with his experience at Ripple Labs and personal experience of locking up 7002 Bitcoin on a thumb drive since 2011, offers a critical review of the 'be your own bank' narrative associated with Bitcoin. He compares it to making one's own shoes and highlights the reason for having banks is to avoid dealing with the complexities they handle. Ripple is a blockchain-based digital payments platform and currency exchange service used by financial institutions worldwide, while Bitcoin is the originator of hash-based blockchains for quick payment settlements and operates on an open, peer-to-peer network.

According to CryptoPotato, a Seattle-based startup called Unciphered, consisting of white hat hackers, claimed to have cracked the IronKey S200 thumb drive containing 7002 Bitcoins in September. They sent proof to a senior writer at WIRED Magazine, but former Ripple CTO Stefan Thomas refused their offer to access the USB drive for him. Thomas informed WIRED that he had already hired another team to work on the problem and wanted to give them a fair chance at retrieving the Bitcoins before considering another company. He mentioned the possibility of subcontracting the Seattle firm if the current team fails to find a solution.

The cybersecurity firm that cracked the IronKey S200 has not revealed its method but did produce three randomly generated passphrase terms for the memory stick without prior knowledge of them. They claim it took 200 trillion tries using a high-performance computer to obtain the correct passphrase terms. This development could be a glimpse into how quantum computers might disrupt cryptocurrencies like Bitcoin and Ripple in the future. Thomas, with his experience at Ripple Labs and personal experience of locking up 7002 Bitcoin on a thumb drive since 2011, offers a critical review of the 'be your own bank' narrative associated with Bitcoin. He compares it to making one's own shoes and highlights the reason for having banks is to avoid dealing with the complexities they handle. Ripple is a blockchain-based digital payments platform and currency exchange service used by financial institutions worldwide, while Bitcoin is the originator of hash-based blockchains for quick payment settlements and operates on an open, peer-to-peer network.