Author: Max Bauer

Cryptocurrency-based predictions market Polymarket is intensifying efforts to verify that high rollers on its platform are located outside the US, following a noticeable increase in bets favoring Donald Trump for the upcoming presidential election. Due to regulatory restrictions, users in the US are not permitted to trade on the platform. A source familiar with Polymarket’s internal operations, who spoke anonymously, confirmed that the company is conducting thorough checks on users, particularly those placing substantial wagers, to ensure compliance with its policies. In recent weeks, scrutiny of Polymarket’s political markets has surged, largely due to a small number of accounts wagering…

As the US presidential election approaches, options traders are increasingly betting that Bitcoin will soar to a record high of $80,000 by the end of November, regardless of the election’s outcome. The implied volatility for Bitcoin options set to expire around November 5 is notably elevated, with a significant skew towards call options, which allow buyers to purchase the cryptocurrency at anticipated new highs. Bitcoin Traders Expect New ATH David Lawant, head of research at crypto prime broker FalconX, noted that market sentiment appears optimistic. “I believe the market consensus is that Bitcoin is likely to perform well regardless of…

Bryan Pellegrino, CEO of the cross-chain interoperability protocol LayerZero, has publicly revealed a critical vulnerability in the Across Protocol’s token contract. In a social media post, Pellegrino alerted the Across Protocol team to a mistakenly exposed function that allowed for the arbitrary destruction and withdrawal of tokens from any wallet. The vulnerability, stemming from an oversight in the implementation of Open Zeppelin’s ERC20 token standard, granted the Across Protocol the ability to reduce any account’s balance to zero at will. Furthermore, Pellegrino noted that both the Across Protocol and UMA Protocol contracts could mint an unlimited number of coins. Despite…

As the 2024 U.S. presidential election draws closer, Bitcoin continues to show strong upward momentum. On Monday morning during European trading hours, the cryptocurrency briefly soared to a high of $69,227, signaling a potential breakthrough for investors. Bitcoin’s Rise Driven by US Elections, Analysts Say Analysts attribute this bullish sentiment largely to the political landscape, with Bitcoin inching closer to the pivotal $70,000 threshold. Avinash Shekhar, Co-founder and CEO of Pi42, highlighted that Bitcoin’s current trading price of $68,700 is influenced by several factors, including Vice President Kamala Harris’s vocal support for cryptocurrency and former President Donald Trump’s favorable reelection…

Cryptocurrency analytics firm MarktQuant has issued a bullish forecast for Bitcoin (BTC), predicting a significant price surge driven by increased liquidity and a potential short squeeze. In a statement released today, the firm cited its proprietary long-term bull/bear model, which integrates eleven key technical and on-chain indicators. This model has now transitioned into a “full bullish phase,” according to MarktQuant. The firm points to positive momentum building over the past four days, characterized by steady acceleration. This positive trend, coupled with a medium-to-long-term bullish outlook, forms the basis of MarktQuant’s prediction. A key driver of this bullish sentiment is an…

Chris Larsen, co-founder and chairman of the cryptocurrency company Ripple, has made a significant contribution to the campaign of Vice President Kamala Harris, totaling over $11.8 million. This substantial donation underscores Larsen’s belief in Harris’s approach to technological innovation, particularly in the cryptocurrency sector. Ripple CEO Brad Garlinghouse Speaks About Larsen’s XRP Donation According to FEC data compiled by blockchain analyst James Delmore and independently verified by CNBC, Larsen’s contribution includes a near-$9.9 million donation to the Future Forward super PAC in September, along with over $800,000 to the Harris Victory Fund. Remarkably, Larsen also pledged a $10 million donation…

Japanese authorities have successfully identified and apprehended suspects involved in a significant money laundering operation that utilized the cryptocurrency Monero. This marks the first instance in Japan where a suspect has been identified through the analysis of Monero transactions. A joint investigation by the National Police Agency’s Cyber Special Investigation Division and nine prefectural police forces led to the arrest of 18 individuals, including the alleged ringleader, Yuta Kobayashi. The group is believed to have conducted approximately 900 fraudulent transactions between June 2021 and January 2022, resulting in damages estimated to exceed 100 million yen. The suspects used stolen credit…

VanEck, a prominent asset management firm, has announced that its Solana exchange-traded note (ETN) has successfully enabled the staking function in the European market. This marks a significant milestone for the ETN, which now offers investors the opportunity to earn staking rewards alongside exposure to Solana’s price. Solana Staking Rewards Will Be Reflected in Users’ Accounts on the Same Day The Solana ETN, incorporated in Liechtenstein, has an asset management scale (AUM) of $73 million. Staking rewards will be automatically included in the token equity of the ETN, reflecting in the daily terminal value. Mathew Sigel, head of digital asset…

Miami-based fiat-to-crypto payment gateway Transak has disclosed a data breach that impacted 1.14% of its user base. The breach, which occurred due to a phishing attack on an employee’s laptop, allowed an attacker to access sensitive personal data of over 57,000 users. Transak Has 5 Million Customers, About 57 Thousand People Affected by the Attack The Stormous ransomware gang has claimed responsibility for the hack, stating that they stole 300 gigabytes of data from Transak, including personal identification information, financial statements, and selfies used for KYC verification. While Transak assures that no assets or financially sensitive data were compromised, the…

Ripple’s Chief Legal Officer, Stuart Alderoty, has expressed confidence in the company’s ongoing legal battle against the U.S. Securities and Exchange Commission (SEC). In a recent statement, Alderoty suggested that the SEC’s appeal is unlikely to succeed and could even lead to a more favorable outcome for Ripple. Alderoty argued that the Second Circuit Court of Appeals will either affirm the district court’s ruling in favor of Ripple or expand upon it. He dismissed the possibility of a remand to the district court as a “remote hope” for the SEC. Moreover, Alderoty pointed out that during the SEC’s failed “interlocutory”…