Here’s what happened in crypto today

Today in crypto, Kazakhstan’s sovereign wealth fund is reportedly considering cryptocurrencies as a viable asset class for its national reserves. Bitcoin creator Satoshi Nakamoto has climbed to 11th place on Forbes’ billionaire list. Meanwhile, the Bank of England governor has issued a warning over the growing risks of stablecoins.Kazakhstan wealth fund, gold, FX reserves to be invested in crypto — ReportKazakhstan’s sovereign wealth fund has reportedly identified cryptocurrencies as a viable asset class for inclusion in the country’s national reserves, with the central bank drawing lessons from allocation strategies used in Norway, the United States and the Middle East.According to Kursiv, a local media outlet registered with Kazakhstan’s Ministry of Information, the country plans to invest a portion of its gold and foreign exchange reserves — as well as assets held by its sovereign wealth fund — into crypto-related instruments.Kursiv cited Timur Suleimenov, head of the National Bank of Kazakhstan, who said at a press conference that the central bank is exploring “aggressive strategies to [generate] higher investment income,” which “does not exclude” allocating part of its holdings to crypto-related funds.Suleimenov pointed to Norway’s sovereign wealth fund, the US government’s digital asset holdings and initiatives in the Middle East as potential models.These authorities “have certain investments either in crypto assets directly or in [exchange-traded funds] and shares of companies that are closely related to crypto assets,” said Suleimonov. The central bank chief also stated that Kazakhstan aims to establish a national crypto asset reserve using digital assets confiscated by law enforcement agencies.Satoshi Nakamoto becomes 11th richest in the world as Bitcoin hits $120KBitcoin’s creator, Satoshi Nakamoto, became the 11th richest person in the world after Bitcoin tapped $120,000 on Sunday. Nakamoto is believed to hold 1.096 million Bitcoin (BTC) across thousands of wallets, which is worth over $131 billion at current prices, according to blockchain analytics company Arkham. This would, in theory, place Nakamoto at number 11 on Forbes’ richest billionaires list, overtaking Michael Dell, CEO of tech giant Dell Technologies, with a net worth of $125.1 billion.Bitcoin crossed $120,000 on Monday, reaching a new all-time high, Nansen data shows.Bank of England governor sounds alarm on stablecoinsBank of England (BOE) governor Andrew Bailey issued a warning on Sunday against banks issuing stablecoins and said the BOE should adopt tokenized deposits instead.Bailey said that stablecoins threaten the fabric of the financial system and could cause governments to lose control of their fiat currencies.The BOE official added that the UK central bank should not join the European Union in pushing for a central bank digital currency (CBDC) or issuing a “digital pound.”Bailey’s concerns have been voiced by other EU officials, who argue that US dollar stablecoins could upend the financial system or cause further damage to the euro in global currency markets.