Author: Max Bauer
The cryptocurrency industry has witnessed a concerning trend in recent months, with an increase in offline robberies targeting prominent figures in the crypto community. While online hacks have seen a significant decline, physical threats and violence have become a growing concern. ZachXBT, a security researcher, has warned of a rise in cryptocurrency thefts across Western Europe, where individuals have been targeted at gunpoint for their cryptocurrency holdings. Hong Kong and Singapore have also experienced similar attacks. Online Cryptocurrency Thefts Decline However, the landscape of cybercrime within the crypto industry has shown positive developments. According to data from Immunefi, losses from…
Coinbase Research has released a new report expressing a bullish outlook for the cryptocurrency market in the coming months. The firm cites the recent strengthening correlation between cryptocurrency and stock markets, driven by global easing campaigns, as a positive indicator. Ethereum (ETH) has exhibited impressive growth, outperforming Bitcoin (BTC) by 8% in the past week. Altcoins have also seen renewed investor interest, with gaming, scaling solutions, and Layer-0 sectors leading the way. Coinbase Research Analysts Think October Will Be Favorable for Cryptocurrencies According to the report, key market metrics remain healthy, indicating a robust market environment. Funding rates are stable,…
Decentralized derivatives trading platform dYdX has announced plans to shut down dYdx v3 version on October 28, 2024. The platform will remain operational until the closing date, allowing users to close positions and withdraw USDC funds. Reason for dYdX v3 to Sunset is the Newest v4 Version dYdX said that user funds remain secure and can be withdrawn indefinitely from smart contracts. The closure only impacts v3 users, while dYdX Chain (v4) and other versions remain unaffected. The company will focus its resources on developing the Unlimited version, scheduled for launch this fall. The decision to wind down v3 activities…
Nick Timiraos, a prominent Wall Street Journal reporter often referred to as the Federal Reserve’s mouthpiece, has cautioned that the central bank’s recent interest rate cuts may not be enough to guarantee a soft landing for the U.S. economy. Timiraos emphasized that achieving a soft landing depends on several factors, including the underlying health of the economy and the ability of lower borrowing costs to stimulate new investment and spending. He warned that even if interest rates fall, many businesses and households may remain hesitant to borrow due to higher interest rates on existing fixed-rate loans. The key issue, according…
Changpeng Zhao, the founder of cryptocurrency exchange Binance, is set to be released from federal prison today after serving a four-month sentence for failing to implement proper anti-money laundering controls. Zhao, commonly known as “CZ,” was taken into custody in April after agreeing to return to the United States from Dubai. Following his release from a halfway house in Long Beach, California, Zhao is expected to reunite with his family in Dubai or Paris. Despite his legal troubles, Zhao remains one of the world’s wealthiest individuals, with a net worth of approximately $60 billion. While Zhao has not publicly disclosed…
Grayscale Investments, a leading digital asset manager, has released its latest prediction for the top 20 cryptocurrencies with the most potential in the coming quarter. The firm has introduced several new assets to the list, including SUI, TAO, OP, HNT, CELO, and UMA. Meanwhile, tokens such as Render (RENDER), Mantle (MNT), ThorChain (RUNE), Pendle (PENDLE), Illuvium (ILV), and Raydium (RAY) have been removed from the previous quarter’s list. Grayscale justified the inclusion of Helium, stating, “Helium’s leadership in the DePIN category and its sustainable revenue generation align with our investment strategy.” The firm highlighted Helium’s significant growth, with over 1…
Former BitMEX CEO and crypto entrepreneur Arthur Hayes made headlines today after revealing a series of bold bets on memecoins, signaling renewed confidence in the speculative sector. Hayes announced his optimism for memecoins via Twitter, backing up his statement by purchasing $250,000 worth of PEPE through Binance. In a further show of confidence, Hayes purchased an additional 23.48 million ATH tokens, valued at $1.5 million, just one hour later. This marks a continuation of his buying spree, which began on August 15. Since then, he has accumulated a total of 116.63 million ATH tokens, spending $7.5 million at an average…
In a coordinated international effort, authorities disrupted a global cryptocurrency network allegedly used by Russians to launder billions and evade sanctions. The U.S. Department of Justice charged two Russian nationals, Sergey Ivanov and Timur Shakhmametov, for operating money laundering services that catered to cybercriminals. The Department of State announced a $10 million reward each for information leading to the arrests of Ivanov and Shakhmametov. U.S. authorities, in collaboration with Netherlands, Latvia, Germany, U.K., Europol, and other U.S. agencies, seized websites linked to illicit cryptocurrency exchanges: Cryptex.net, UAPS, PinPays, and PM2BTC – believed to be connected to Russia. A statement from…
Bank of New York Mellon Corp. (BNY Mellon) has received a significant green light from the Securities and Exchange Commission (SEC) regarding its proposed structure for digital asset custody. SEC Chair Gary Gensler revealed that the approval extends beyond the initial scope of Bitcoin and Ether exchange-traded funds (ETFs), potentially paving the way for broader adoption of crypto custody services by traditional financial institutions. Earlier this week, BNY Mellon submitted a plan to the SEC’s Office of Chief Accountant outlining its approach to safeguarding customer digital assets, specifically Bitcoin and Ether, in a manner that protects against bank insolvency. The…
Cryptocurrency analysis firm Alphractal has released its latest market analysis, highlighting a resurgence of shorting activity by large whales as Bitcoin (BTC) approached the $65,000 mark. Alphractal’s Whale Position Sentiment indicator, which tracks the direction of whale-leveraged positions across multiple exchanges, has shown a decline, suggesting a surge in short positions. This metric has a strong correlation with price action, demonstrating the significant influence of whales on the market. According to the analysis, Bitcoin must maintain a price above $62,200, the Short-Term Holder Realized Price, to avoid a return to bearish territory. Falling below this level could signal a renewed…