Author: Max Bauer
Terra blockchain has suffered a significant security exploit, resulting in the theft of tokens valued at over $4 million. The attack exploited a known vulnerability in a third-party module called IBC hooks, which is designed to facilitate cross-chain contract calls and token transfers. An unknown attacker took advantage of this vulnerability to drain value from various bridged assets, including the USDC stablecoin and ASTRO tokens from Astroport Finance. According to security firm Beosin, the total impact exceeds $4 million. The incident also caused the price of ASTRO tokens to plummet by 60%. In response to the breach, Terra implemented emergency…
The now defunct cryptocurrency exchange Mt. Gox transferred over $2 billion worth of bitcoin to a new address on Tuesday, according to data from Arkham Intelligence. At precisely 7:28 p.m. ET, Mt. Gox moved 33,105 bitcoins, valued at approximately $2.19 billion, to an address starting with “bc1q26.” The ownership of this new address remains unidentified. This transaction follows a series of substantial transfers made by Mt. Gox to various designated crypto exchanges, including Bitbank, Kraken, Bitstamp, and SBI VC Trade, in recent weeks. Bitstamp, for instance, announced last week that it would begin distributing assets to Mt. Gox creditors starting…
A draft bill proposing the establishment of a U.S. Strategic Bitcoin Reserve reveals that the initiative would be partly financed by revaluing the gold certificates held by the Federal Reserve System. The draft, shared by the office of Senator Cynthia Lummis, outlines a comprehensive plan to create a decentralized network of secure Bitcoin storage facilities across the country. Senator Lummis, a Republican from Wyoming renowned for her pro-Bitcoin policies, unveiled her proposal for the strategic reserve at the Bitcoin Nashville conference on Saturday. Her announcement came shortly after former U.S. President Donald Trump addressed the crowd on blockchain policy, in…
US Presidential candidate Donald Trump has raised an impressive $25 million at a recent Bitcoin Conference fundraiser. The announcement came from journalist Eleanor Terrett, who shared the eye-popping figure on social media. David Bailey, CEO of Bitcoin Magazine, confirmed the amount raised at the event, held in Nashville. The fundraiser attracted a star-studded lineup of attendees, including notable figures such as Tyler and Cameron Winklevoss, musicians Kid Rock and Billy Ray Cyrus, and social media influencer Jake Paul.
The future trajectory of Bitcoin could be significantly influenced by the results of the upcoming U.S. presidential election, according to a recent research report from investment bank Jefferies. The report, released on Monday, highlights the political nuances observed at the Bitcoin Nashville conference held last week, where notable figures, including former President Donald Trump, engaged with the cryptocurrency community. Jefferies analysts Jonathan Petersen and Joe Dickstein suggest that Trump’s recent pro-crypto stance could have a substantial impact on Bitcoin’s short-term price fluctuations. “His overtures to the industry to install crypto-friendly regulators may have the effect of near-term BTC price being…
During an interview with CNBC at the Summer Olympics, David Solomon, the chief executive of Goldman Sachs, shared his thoughts on bitcoin, emphasizing its potential as a store of value. However, Solomon maintained his cautious stance on the speculative nature of the cryptocurrency. “I’ve always said I think it’s a speculative investment,” Solomon stated. “I don’t see a real use case.” Despite his reservations, Solomon acknowledged the intriguing nature of the underlying technology behind cryptocurrencies. He highlighted the potential for advancements in reducing financial system friction as digitization continues to evolve. When CNBC’s Joe Kernan posed a question about the…
The Securities and Exchange Commission (SEC) has charged Nader Al-Naji with orchestrating a fraudulent crypto asset scheme involving the social media platform BitClout and its native token, BTCLT. The SEC’s complaint alleges that Al-Naji raised over $257 million from unregistered sales of BTCLT starting in November 2020, under false pretenses that the proceeds would not be used for personal gain. Contrary to these claims, Al-Naji allegedly spent over $7 million of investor funds on personal expenses, including a Beverly Hills mansion rental and lavish gifts to family members. To avoid regulatory scrutiny, Al-Naji allegedly misrepresented BitClout as a decentralized project…
Binance Labs has announced its investment in aPriori, a pioneering project focused on MEV-powered liquid staking solutions on the Monad network. This investment was made through Season 6 of the Binance Labs Incubation Program, highlighting Binance Labs’ commitment to supporting innovative early-stage blockchain projects. aPriori is developing a unique MEV-powered liquid staking platform on the Monad network. This platform aims to decentralize Monad’s network and enhance the overall user experience by leveraging Maximum Extractable Value (MEV) mechanisms. Yi He, Co-Founder of Binance and Head of Binance Labs, expressed enthusiasm about the investment, stating, “Binance Labs is proud to back aPriori’s…
Raoul Pal, the founder of macro research firm Real Vision and former executive at Goldman Sachs, has made a bold prediction about the future of Bitcoin. In a recent social media post, Pal suggested that Bitcoin is on the verge of breaking through a significant cup-handle pattern and entering what he refers to as the “banana range.” The term “banana range” is a concept often discussed by Arthur Hayes and other prominent figures in the cryptocurrency industry. It represents a highly cyclical stage when liquidity floods the market, and central banks are required to refinance all debts, using incentives to appease the masses.…
Cryptocurrency exchange Coinbase announced that it will list Stader (SD) according to its official announcement.