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White Hat Hacker Awarded $2 Million for Fixing ETH-Creation Bug

Ethereum layer-2 solution, Optimism, fixed a major flaw that would have permitted an illegal and continuous creation of ETH tokens.  According to sources, Optimism might have just solved a significant system vulnerability issue. The potential glitch got the attention of developers at Ethereum through an Ethical Hacker, Jay Freeman, who discovered flaws in the code and saved the network from significant theft risks.  The bug, now curtailed, was reportedly triggered by an Etherscan employee. Had the issue not been promptly…

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Canadian Trucker Convoy Raises $450,000+ Using Bitcoin, Bypassing GoFundMe Restrictions

Tallycoin – a crowdfunding platform built on top of Bitcoin – has amassed over $450k in BTC in support of “Bitcoin For Truckers”. The fundraiser supports the Canadian “Freedom Convoy” that's been protesting against covid restrictions on Parliament Hill for over a week.  The event highlights Bitcoin as a censorship-resistant alternative to GoFundMe, which is reversing $10M in user donations to the same movement.  Bitcoiners Unite With Truckers According to Tallycoin, Bitcoin for Truckers has just passed its fundraising goal…

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The Suex Exchange Sanction Scandal Continues to Heat Up

On September 21st, the U.S government took action against Suex, a Russian cryptocurrency broker. According to the announcement, the sanctions on Suex should eliminate criminal-related activities. Furthermore, the directive came from the Treasury’s Office of Foreign Assets Control (OFAC). The War on Illicit Financing According to the Treasury’s announcement, criminal networks use cryptocurrencies and exchanges to launder money. As per the government, such incidents affect the country’s economy. Essentially, Suex’s services combine illegal ransomware transactions with genuine transfers. So, for…

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Binance Invests Millions of Dollars in Forbes SPAC Merger

Binance is on the verge of acquiring $200 million in Forbes stakes, as it touts the magazine publisher as an essential tool for web 3.0 Binance will merge with the blank-check company Magnum Opus in a $400 million takeover deal. Forbes will list on the New York Stock via SPAC as FRBs in the coming months. Binance SPAC Merger Major crypto exchange Binance will invest about $200 million into Forbes to ease a special purpose acquisition purchase (SPAC) of the…

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Hacker Who Stole Records of 1B Chinese Citizens Demands 10 Bitcoins

An anonymous hacker named ChinaDan recently offered to sell the personal data of 1 billion Chinese residents for 10 Bitcoins. While there are uncertainties to this claim, Changpeng Zhao and others ask users to beware. Attack on Shanghai Police Database The hacker allegedly came by the information through a cybersecurity attack that took place earlier this year. According to Reuters, the breach leaked resident details contained in a database in possession of the Shanghai National Police (SHGA). Security experts have…

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The Fed and White House Want a CBDC: Ted Cruz

Ted Cruz (R-TX) – a crypto-supportive Republican senator – believes a US Central Bank Digital Currency (CBDC) is likely to become a reality.  The politician believes both the Federal Reserve and the White House currently want one, and that the Democratic party won’t vote against its issuance.  In an interview published by What Bitcoin Did on Friday, Cruz discussed the current political climate surrounding crypto. In general, the senator believes Democrats are more opposed to the industry than Republicans, due…

Galaxy Digital to Purchase GK8 from Failed Lender Celsius

In a Friday announcement,  financial services and investment management company Galaxy Digital revealed plans to purchase asset custody solution GK8. The firm, led by Mike Novogratz, won a bid allowing it to acquire GK8 from Celsius network under the lender’s bankruptcy proceedings. Galaxy to Implement GK8’s Custody Technologies GK8 is a blockchain-focused cybersecurity provider for financial institutions to store their digital assets. The platform also allows users to perform transactions without an internet connection. In their release, Galaxy digital noted…

Max Keiser and Tucker Carlson Talk FTX and the Future of Bitcoin

Economic journalist Max Keiser recently joined Fox News host Tucker Carlson to discuss how FTX went bankrupt. The two personalities discussed how Bitcoin can fix corruption within the financial system, including at FTX and on Wall Street.  Crypto and Financial Corruption In an interview released on Monday, Tucker began by suggesting that FTX’s collapse may be used as an excuse to regulate the crypto. However, Max Keiser argued that Bitcoin is “designed” to be attacked, and only grows more resilient…

Crypto Community Confronts SBF for First Time Since FTX Collapse

After nearly three weeks in the dark from the media, former FTX chief Sam Bankman-Fried is finally making public appearances. On Thursday, he partook in a live Twitter space to take questions directly from the crypto community. Here are the highlights from his interview and questioning. Sam Bankman-Fried said he is making media appearances in the name of transparency. He believes the community deserves answers. SBF claimed that he had little relationship with Alameda Research, over worries about conflicts of interest.…

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The Fed and White House Want a CBDC: Ted Cruz

Ted Cruz (R-TX) – a crypto-supportive Republican senator – believes a US Central Bank Digital Currency (CBDC) is likely to become a reality.  The politician believes both the Federal Reserve and the White House currently want one, and that the Democratic party won’t vote against its issuance.  In an interview published by What Bitcoin Did on Friday, Cruz discussed the current political climate surrounding crypto. In general, the senator believes Democrats are more opposed to the industry than Republicans, due…

Galaxy Digital to Purchase GK8 from Failed Lender Celsius

In a Friday announcement,  financial services and investment management company Galaxy Digital revealed plans to purchase asset custody solution GK8. The firm, led by Mike Novogratz, won a bid allowing it to acquire GK8 from Celsius network under the lender’s bankruptcy proceedings. Galaxy to Implement GK8’s Custody Technologies GK8 is a blockchain-focused cybersecurity provider for financial institutions to store their digital assets. The platform also allows users to perform transactions without an internet connection. In their release, Galaxy digital noted…

Max Keiser and Tucker Carlson Talk FTX and the Future of Bitcoin

Economic journalist Max Keiser recently joined Fox News host Tucker Carlson to discuss how FTX went bankrupt. The two personalities discussed how Bitcoin can fix corruption within the financial system, including at FTX and on Wall Street.  Crypto and Financial Corruption In an interview released on Monday, Tucker began by suggesting that FTX’s collapse may be used as an excuse to regulate the crypto. However, Max Keiser argued that Bitcoin is “designed” to be attacked, and only grows more resilient…

Crypto Community Confronts SBF for First Time Since FTX Collapse

After nearly three weeks in the dark from the media, former FTX chief Sam Bankman-Fried is finally making public appearances. On Thursday, he partook in a live Twitter space to take questions directly from the crypto community. Here are the highlights from his interview and questioning. Sam Bankman-Fried said he is making media appearances in the name of transparency. He believes the community deserves answers. SBF claimed that he had little relationship with Alameda Research, over worries about conflicts of interest.…

Coinbase Wallet Delists XRP and 3 Others, Cites Low Usage

According to an update on the crypto platform’s help page, Coinbase wallet will no longer support payment network Ripple’s XRP token. The digital asset is not the only cryptocurrency Coinbase has delisted as Bitcoin Cash, Ethereum Classic, and Stellar will also be unavailable. Coinbase Halts Wallet Support for XRP, BCH, ETC, and XLM The delisting will take effect from January next year and Coinbase’s wallet application will drop support for the aforementioned tokens. Coinbase Wallet like MetaMask and similar providers…

Nexo Makes the Case for Why it Won’t Go Down Like BlockFi

The crypto borrowing and lending platform Nexo recently provided transparency into exactly how its business makes money. Its lengthy breakdown follows the collapse of numerous high-profile crypto lending firms that were overexposed to defunct projects and businesses.  Nexo’s Business Model As Nexo explained in a Twitter thread on Monday, Nexo’s primary business strategy is to facilitate collateralized credit. Its core services include crypto collateralized loans, interest-bearing crypto accounts, and spot, futures, and options trading.  Through its Earn product (crypto interest…

Crypto Lender BlockFi Files for Bankruptcy

According to a recent press release, crypto lending firm BlockFi has filed for chapter 11 bankruptcy protection. The company predictably began to battle liquidity issues in the wake of FTX’s monumental crash. BlockFi Hopes to Restructure The lender submitted its application for bankruptcy protection in the United States Bankruptcy Court for the District of New Jersey alongside 8 affiliated companies. BlockFi's goal is reportedly to bring operations back to steady ground. Chapter 11 of the Bankruptcy Code typically allows for…

WMA: Most Assets Record Minor Gains but Bitcoin Stagnates

Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $842 billion. Bitcoin is trading at around the same value as last week, $16,500. Ethereum gained more than 3% over the past seven days. XRP increased by nearly 8% this past week. Almost all altcoins and Metaverse projects are trading in the green. The DeFi sector decreased the total value protocols (TVL) to around…

Binance Releases its Proof of Reserves — But is it Enough?

Binance released its highly anticipated proof of reserves (PoR) on Friday, providing blockchain-based evidence for the Bitcoin on its books.  However, many in the crypto community question Binance’s approach. Also, they aren’t fully sure they have the transparency they’re looking for. The Move to Proof of Reserves As Binance explained in its announcement, the exchange’s transparency system will add multiple tokens and networks within the next two weeks. For now, it solely validates its Bitcoin holdings.  The company’s initial audit…

Elon Musk Blasts Legacy Media’s ‘Gingerly’ SBF Coverage

While busy managing Twitter, Elon Musk has still been keeping up with the drama surrounding FTX and its former CEO, Sam Bankman-Fried (SBF). The billionaire has written numerous tweets this week signaling his distaste for SBF and media outlets covering him uncritically.  Musk began by ripping into the Wall Street Journal on Monday. The outlet published an opinion piece claiming that FTX ultimately failed “because Sam Bankman-Fried’s supporters lost confidence in him.” “Yeah umm … that is definitely not the…

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WMA: Most Assets Record Minor Gains but Bitcoin Stagnates

Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $842 billion. Bitcoin is trading at around the same value as last week, $16,500. Ethereum gained more than 3% over the past seven days. XRP increased by nearly 8% this past week. Almost all altcoins and Metaverse projects are trading in the green. The DeFi sector decreased the total value protocols (TVL) to around…

WMA: BTC Stands Still, and Altcoins Devalue in Post-FTX Hangover

Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $823 billion. Bitcoin is trading at around the same value as last week. Ethereum lost more than 5% over the past seven days. XRP increased by nearly 6% this past week. Almost all altcoins and Metaverse projects are trading in the red. The FTX debacle continues to run rampant through the crypto market. The…

WMA: FTX Bankruptcy Leads to Huge Market Crash, Bitcoin Drops to $16K

Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $833 billion. Bitcoin is down by nearly 23% following a terrible market crash. Ethereum lost almost 25% over the past seven days. XRP decreased by nearly 29% this past week. Almost all altcoins and Metaverse projects are trading in the red. FTX filed for bankruptcy, revealing over $9 billion in liquidity losses. The DeFi…

WMA: Bitcoin Reclaims $21,000, Altcoins Thrive, and Solana Gets Google Backing

Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $1.057 trillion. Bitcoin is up by almost 3% following another successful week. Ethereum gained almost 2% over the past seven days. XRP increased by nearly 6% this past week. Almost all altcoins are trading in the green, with very few exceptions. The DeFi sector increased the total value protocols (TVL) to around $56 billion.…

Coinbase Trading Revenue Down 44% After “Mixed” Third Quarter

America’s largest crypto exchange, Coinbase, has unveiled its Q3 2022 earnings report – and the results are a bit jumbled. While the firm had a roughly $300 million drop in expenses from last quarter, the company’s total revenue also fell by 24%. Slow Trading Season for Coinbase The third quarter shareholder letter showed transaction revenue at $366 million, taking a substantial 44% slash versus Q2. Meanwhile, total trading volume on the platform fell about 27%, from $217 billion to $159…

WMA: Bitcoin Surges Above $20,000, Altcoins Soar, Elon Finally Buys Twitter

Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $1.03 trillion. Bitcoin is up by almost 9% following a successful week. Ethereum gained almost 25% over the past seven days. XRP increased by nearly 3% this past week. Almost all altcoins are trading in the green, with few exceptions. The DeFi sector increased the total value protocols (TVL) to around $54 billion. Crypto…

Senior Huobi Staff Members Exit as Justin Sun Enters as CEO

Per a report from crypto news outlet Wu Blockchain, some Huobi executives have exited their roles following Justin Sun’s acquisition of the exchange. These appear to be the former chief executive officer and chief financial officer at the company.  Sun May Discharge Several Employees The Twitter report stated that Sun has plans for large-scale dismissal. Huobi currently hosts 1600 staff members which Sun reportedly believes is too much. Sources close to the matter claim the TRON founder’s team now occupies…

WMA: Bitcoin Rejected at $20,000 as Most Altcoins Continue Bleeding

Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $921 billion. Bitcoin has barely moved from last week’s position following a 0.2% boost this week. Ethereum gained almost 2% over the past seven days. XRP dropped by nearly 5% this past week. Almost all altcoins are trading in the red, with few exceptions. The DeFi sector increased the total value protocols (TVL) to…

WMA: Bitcoin Still Striving at $20,000 as DeFi Hacks Soar

Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $918 billion. Bitcoin has decreased by nearly 2% this week. Ethereum lost almost 3% over the past seven days. XRP is down by nearly 6% this past week. Almost all altcoins are trading in the red, with few exceptions. The DeFi sector increased the total value protocols (TVL) to around $26 billion. Crypto Trends…

WMA: Bitcoin Below $20k as BNB Chain Loses $100M+ in Bridge Exploit

Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $944 billion. Bitcoin has increased by nearly 2% this week. Ethereum gained almost 3% over the past seven days. XRP is up by nearly 16% this past week. Almost all altcoins are trading in the green, with few exceptions. The DeFi sector dropped the total value protocols (TVL) to around $17 billion. Crypto Trends…

California Resident Charged for Laundering $5 Million in Drug Proceeds With Bitcoin

U.S. officials charged a man in California on Friday for unlawful importation of drugs and conspiracy to commit money laundering. He allegedly sold those counterfeit drugs for Bitcoin.  As detailed in a press release by the Department of Justice, 27-year-old John Khuu was brought to Federal court for his charges on Thursday.  He allegedly serviced customers across the United States with controlled substances on dark web markets, including counterfeit pharmaceutical pills. Khuu and his co-conspirators would typically have his customers…

SEC Charges Kim Kardashian $1.3 Million for Promoting Crypto Without Disclosure

The American celebrity Kim Kardashian has been forced to pay a $1.26 million fine by the Securities and Exchange Commission (SEC).  The fine pertains to her undisclosed promotion of EthereumMax (EMAX) over Instagram. She failed to reveal that she was paid $250,000 to promote the token.  Kim Kardashian Promoting Crypto? Per a statement from the SEC on Monday, Kardashian’s problematic post contained a link to the Ethereum Max website, and instructions for purchasing EMAX tokens.  The Instagram story said Kardashian’s…

WMA: Bitcoin Denied at $20,000 as the Market Lingers in the Red

Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $925 billion. Bitcoin has increased by nearly 1% this week. Ethereum lost almost 2% over the past seven days. XRP is down by nearly 8% this past week. Almost all altcoins are trading in the red, with few exceptions. The DeFi sector maintained the total value protocols (TVL) at around $27 billion. Crypto Trends…

WMA: Bitcoin Below $19,000 while XRP Surges as the Bears Maintain Control

Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $928 billion. Bitcoin has decreased by nearly 4% this week. Ethereum lost almost 8% over the past seven days. XRP is up by nearly 29% this past week. Almost all altcoins are trading in the red, with few exceptions. The DeFi sector maintained the total value protocols (TVL) at around $27 billion. Crypto Trends…

Volt Inu (VOLT) Makes Another Move on the Successful Path of SHIB

It is always nice to see new projects taking inspiration from successful ones in crypto. We have seen it many times before, and it is happening again with Volt Inu (VOLT). The project is following in the footsteps of SHIB, which has been highly successful. The team behind Volt Inu (VOLT) announced multiple listings of the token over the recent months. The listing of the project on Gate.io and Bittrex Global are the most recent ones. Gate.io - Effects on…

Wintermute Loses 160 Million USD in Major Defi Hack

Major liquidity provider Wintermute has become the latest cryptocurrency firm to suffer a security breach in recent months.  Attack to Be Treated as a "White Hat" Hack Earlier this morning, CEO of Wintermute Evgeny Gaevoy took to Twitter to share the news. In a series of tweets, Gaevoy explained that only their DeFi protocols had been affected. Their CeFi and OTC activities remain up and running. About 90 assets were compromised, with a little over 160 million USD siphoned off…

Ripple Seeks Dismissal of SEC Lawsuit Alleging XRP Security Status

Ripple – the blockchain technology company behind XRP – is seeking dismissal of the Security and Exchange Commission (SEC)’s 2020 lawsuit against the firm. It claims that XRP does not constitute an “investment contract”, and thus cannot be called unregistered security.  Can Ripple End the Lawsuit? As reported by BNN Bloomberg, Ripple’s weekend filing claims XRP investors do not have rights, and that Ripple is not required to act in their interests. It cited a lack of documents imposing such…

Hackers Drain Over $3 Million From Ethereum “Vanity” Addresses

Ethereum addresses generated by an abandoned Ethereum vanity tool have been stripped of over $3 million in assets by exploiters. The tool – called “Profanity” – used an insecure method for generating public keys, from which users’ private keys could be extracted.  Unsafe Keys The popular decentralized exchange aggregator 1Inch first noted the vulnerability on Thursday, just hours before it started being exploited.  “Run, you fools,” tweeted 1Inch. “Your money is NOT SAFU if your wallet address was generated with…

WMA: Bitcoin and Altcoins in the Red Despite Successful Ethereum Merge

Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $962 billion. Bitcoin has decreased by nearly 9% this week. Ethereum lost almost 20% over the past seven days. XRP is up by nearly 8% this past week. Almost all altcoin s are trading in the red, with few exceptions. The DeFi sector dropped the total value protocols (TVL) to around $27 billion. Crypto…

Ethereum Classic Hash Rate Explodes After The Merge

With Ethereum’s long-anticipated Merge finally complete, the network’s miners may have already found a new home in Ethereum Classic. The original Ethereum chain saw its hash rate explode following Thursday’s monumental upgrade.  Inheriting Ethereum’s Miners According to data from 2Miners, Ethereum Classic’s hashrate is now up to 305.65 terrahashes per second (TH/s). On late Wednesday, it stood at just 80 TH/s.  For context, 1 terrahash is equal to 1 000 000 000 000 hashes. These are guess answers generated by…

OFAC Answers Questions Surrounding Tornado Cash Sanctions

The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) has cleared up some rules pertaining to Tornado Cash.  While some helpful guidance and reassurance have been provided, many questions remain regarding the Office’s designation of the privacy tool.  The Treasury reiterated that U.S. persons are no longer allowed to interact with Tornado Cash. However, anyone who had their funds trapped inside Tornado Cash prior to August 8th may apply for a license to retrieve them. “OFAC would have a…

WMA: Bitcoin Back Above $20k and Ethereum Surges Before Imminent Merge

Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $1.05 trillion. Bitcoin has increased by nearly 10% this week. Ethereum gained almost 14% over the past seven days. XRP is up by nearly 8% this past week. Almost all altcoins are trading in the green, with few exceptions. The DeFi sector increased the total value protocols (TVL) to around $32 billion. Crypto Trends…

Bitcoin Needs to Upgrade if it Wants to Stay Legal: Charles Hoskinson

Charles Hoskinson – CEO of Input Output Global (IOG) and co-founder of Cardano – delivered a warning to the Bitcoin community on Thursday. According to the White House’s latest report, bureaucrats are recommending a potential Bitcoin mining ban to combat excess energy use. As such, Hoskinson suggested that Bitcoin transition to a new consensus algorithm stay within U.S. borders.  https://twitter.com/IOHK_Charles/status/1568004482042310656 The CEO examined page 7 of the White House’s report, titled “Climate and Energy Implications of Crypto-Assets in the United…

NFD Loses 99% of its Value After Flash Loan Attack

According to circulating reports, on Thursday, September 8 DeFi project New Free DAO fell victim to a series of flash loan attacks. The exploits may have seen the company suffer losses scaling $1.25 million causing the value of its native token to tank. Notably, the price of the NFD token has fallen by about 99% following the attack.  PeckShield Sounds the Alarm News of the attack initially emerged via a report from blockchain security firm PeckShield Alert. The company sounded…

Crypto Broker Voyager to Auction Assets Sept 13

Crypto brokerage firm Voyager Digital is set to auction off the rest of its assets on Tuesday, September 13. News of the move emerged after the platform filed a notice with the U.S. Bankruptcy Court of the Southern District of New York.  Auction to Take Place On September 13 According to the filing, the auction will hold in Manhattan at the offices of Voyager’s investment bank Moelis and Company. Afterward, on September 29, the court will conduct a hearing to…

WMA: Bitcoin Drops Below $20,000 but Altcoins Soar Amid Intense Market Volatility

Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $975 billion. Bitcoin has dropped by over 1% this week. Ethereum gained almost 5% over the past seven days. XRP is down by nearly 2% this past week. Almost all altcoins are trading in the green, with few exceptions. The DeFi sector decreased the total value protocols (TVL) to around $26 billion. Crypto Trends…