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Today's Top Crypto Headlines:
Bitcoin OG Debate | Pudgy Penguins Deny OpenSea Deal | XRP Whale Concerns and more...
King Fatrick Gil Añasco
July 28, 2025
Good Morning Crypto Enthusiasts!
Glad to have you back for another edition of the UseTheBitcoin.com newsletter.
Bitcoin OGs Clash Over Institutional Shift: Scott Melker sparked debate after suggesting Bitcoin OGs are selling due to disillusionment with institutional influence.
Pudgy Penguins Shuts Down OpenSea Rumors: Pudgy Penguins denied claims of acquiring OpenSea, focusing instead on brand partnerships and product launches.
💡Feature of the Day - XRP Whale Sparks Sell-Off Worries: Ripple co-founder Chris Larsen moved 50M XRP to exchanges, raising fears of a broader dump.
All this and more in today’s headlines!
📰 News Highlights:
A heated debate has erupted in the Bitcoin community after analyst Scott Melker claimed that early Bitcoin whales are losing confidence and selling off their holdings.
Bitcoin is amazing, but it’s obviously been co-opted to some degree by the very people that it was created as a hedge against.
Many of the most ardent early whales have seen their faith shaken and have been selling at these prices.
— The Wolf Of All Streets (@scottmelker)
1:03 PM • Jul 26, 2025
Melker noted that some Bitcoin OGs feel Bitcoin has been co-opted by the very institutions it was meant to resist.
I rarely disagree with you strongly but this is one of those moments.
People make a personal decision to sell some of all their coins for a myriad of reasons that have nothing to do with the asset or protocol.
Everyone dies. At some point, investment returns become irrelevant.
— Mike Alfred (@mikealfred)
2:45 PM • Jul 26, 2025
Though he clarified he doesn't necessarily agree, his post sparked disagreement.
Yeah not sure this is a disagreement.
I’ve spoken with plenty. They’ve made enough money and bitcoin is longer what they believed it was (to them). No judgement, just fact.
— The Wolf Of All Streets (@scottmelker)
3:07 PM • Jul 26, 2025
Mike Alfred argued that people sell for many reasons unrelated to confidence, while PlanB and other OGs admitted to reallocating into ETFs for practical reasons.
⚠️ Disclosure ⚠️
I have transferred my bitcoin to ETFs.
Yes I know, not your keys not your coins. But it is just easier for me to manage bitcoin the same way as equities and bonds. Also, not having to hassle with keys gives me peace of mind. I guess I am not a maxi anymore.
— PlanB (@100trillionUSD)
11:13 AM • Feb 15, 2025
Others, like Crypto Mags, emphasized that Bitcoin is inherently inclusive—even of governments and Wall Street.
Seeing takes that Bitcoin has changed so OG whales are selling...
I'm here to remind you that Bitcoin is for everyone. Everyone INCLUDES enemies, governments, and Wall Street.
If you were here for uncensorable freedom money, that hasn't changed. What has changed is the
— MAGS 🔑⛏️🚒 (@Crypto_Mags)
8:45 PM • Jul 26, 2025
Matt Hougan of Bitwise praised Bitcoin's core logic and community.
I get this, but bitcoin's still pretty revolutionary. It's the first global money backed, not by the state and the threat of violence, but by logic and community.
Respect to the early whales, and, let's keep building. The world needs bitcoin more than ever.
— Matt Hougan (@Matt_Hougan)
7:40 PM • Jul 26, 2025
This discussion follows a massive 80,000 BTC transaction, one of the largest ever, which has further fueled anxiety about long-term holder sentiment.
The Bitcoin OG with 80,009 $BTC($9.46B) transferred the remaining 40,192 $BTC($4.77B) to #GalaxyDigital in the past 3 hours.
— Lookonchain (@lookonchain)
12:45 AM • Jul 18, 2025
🎁Freebie:
Download your free ebook now and take the first step toward mastering CRYPTO IN UNDER 60 MINS!
Pudgy Penguins has denied social media rumors suggesting it acquired NFT marketplace OpenSea.
Pudgy Penguins didn’t buy Opensea… chill.
The scale of things planned for the Penguin is so large that you need not speculate on a single acquisition.
Instead talk about partnering with Lufthansa and NASCAR, and go find the next great brand for us to proliferate with.
— Beau (@beausecurity)
11:57 AM • Jul 26, 2025
In a post, project security head Beau dismissed the speculation, encouraging focus on partnerships with brands like Lufthansa and NASCAR instead.
@pudgypenguins I think there is a lot more value in bullposting the things that are confirmed happening!
I don't actually think acquiring OS rn would make a lot of sense for us.
— Beau (@beausecurity)
1:50 PM • Jul 26, 2025
He argued acquiring OpenSea doesn’t align with the project's current goals.
Rumors are spreading that @LucaNetz (Pudgy Penguins) has bought @opensea last December.
Then there's the rumors of Abstract going to tge this December.. 👀
I'm not gonna lie, sounds too coincidence? December December
And if you check the interviews (vid in the nested tweet) u
— Cape 👊 (@heycape_)
2:19 AM • Jul 26, 2025
Speculation began after old comments by CEO Luca Netz resurfaced, but no official confirmation followed.
BREAKING: Rumors are swirling that @pudgypenguins has acquired @opensea and plans to announce it soon.
Personally, I find that unlikely — @LucaNetz has made it clear that his main focus this year is on $PENGU, Abstract, and growing the Pudgy Penguins brand.
What do you think?
— broski ✳️ 🐧 (@broskisol)
8:11 AM • Jul 26, 2025
💡 Feature of the Day:
Ripple co-founder Chris Larsen has triggered concern among XRP investors after moving 50 million XRP to exchanges.
🚨 Chris Larsen (Ripple co-founder) just dumped ~$200M worth of XRP in the past 10 days.
Still buying?
You're the exit liquidity.
He's dumping on you.Think twice. ⚠️
— Maartunn (@JA_Maartun)
6:15 PM • Jul 24, 2025
Analysts fear this could be just the start, as Larsen's wallet still holds around 2.58 billion XRP worth $8.83 billion.
🚨 Chris Larsen (Ripple co-founder) still holds 2.58B $XRP — that’s $8.83B.
If $200M was just the warm-up... what’s next?
Don’t get dumped on.
Don’t be the exit liquidity.
Protect yourself. 👇— Maartunn (@JA_Maartun)
5:04 PM • Jul 25, 2025
J. A. Maartunn of CryptoQuant warned that if more of this stash is sold, XRP prices could face extreme sell pressure.
Chris Larsen, Ripple co-founder, sold nearly $200M $XRP in 10 days.
Still buying?
You might be his exit liquidity.He’s unloading heavy be cautious! ⚠️
— ManLy (@ManLyNFT)
10:30 AM • Jul 25, 2025
This comes shortly after XRP hit local highs above $3.60, gains that were quickly erased.
Social media reactions are split, with some viewing it as normal profit-taking, while others see it as deliberate exit liquidity behavior.
😂 Crypto Meme of the Day:
Meme of the day provided by @cryptojobslist
And that’s it for this today.
See you all tomorrow’s edition!
Jonathan Gibson
UseTheBitcoin.com