Day: November 5, 2021

Hodler’s Digest, Oct. 31-Nov. 5

Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week ‘Uptober’ closes at record high in best month of 2021 — 5 things to watch in Bitcoin this week After Bitcoin’s (BTC) first-ever monthly close above $60,000 for October and a new all-time high (ATH), the bulls are reading the tea leaves to see what…

US Stablecoin Report Gets Mixed Reviews From Crypto Industry

“This is huge progress in the acceptance of stablecoins and provides a path for their adoption,” Allaire said in an emailed statement. Tether, the market leader, gave a similarly upbeat statement. While less effusive, Paxos, the No. 7 issuer, and Gemini, the company behind the 16th-largest stablecoin, were diplomatic in their comments. Source

DeFi Lender bZx Suffers Hack for Reported 55M

DeFi lender bZx suffered a hack for a reported $55 million, according to a tweet on Friday by the blockchain security firm SlowMist. “#bZx private key compromised, over $55 million dollars stolen so far. We’ll continue to update as more information is discovered,” SlowMist tweeted. bZx responded in a tweet that a private key controlling the protocol’s deployment on Polygon and Binance Smart Chain was compromised. bZx suffered three hacks last year, although it was able to recover $8 million in cryptocurrency from…

FBI Public Service Announcement Warns of ‘Increased’ Crypto ATM, QR Code Fraud – Bitcoin News

The Federal Bureau of Investigation (FBI), America’s domestic intelligence and security service, has published a public service announcement concerning fraudulent schemes associated with cryptocurrency ATMs and QR codes. The FBI’s warning, published on November 4, highlights the presence of “scammers” directing their energy at unknowing victims. US Federal Agency Warns of Increase in Crypto ‘Scammers’ On Thursday, the U.S. government entity the FBI published a public service announcement that explains “criminal actors” are maliciously utilizing cryptocurrency automated teller machines (ATMs) in order to compromise victims’ crypto funds. The FBI’s press…

DeFi Lender bZx Suffers Hack for Reported $55M

Decentralized finance (DeFi) lender bZx suffered a hack of reportedly $55 million, according to a tweet on Friday by the blockchain security firm SlowMist. “#bZx private key compromised, over $55 million dollars stolen so far. We’ll continue to update as more information is discovered,” SlowMist tweeted. bZx responded in a tweet that a private key controlling the protocol’s deployment on Polygon and Binance Smart Chain was compromised, but that its smart contracts were not. The protocol added that about 25% of the stolen amount was “personal losses from the team…

Craig Wright’s Latest Funhouse-Mirror Legal Adventure

Today is the fifth day of the civil trial between Craig Wright, chief scientist of crypto research firm nChain, and the estate of Dave Kleiman, Wright’s collaborator and business partner in the early days of Bitcoin. For newcomers to crypto, the name Craig Wright might not mean much, and fair enough: He is a largely discredited figure at the very margins of the industry, most likely these days to surface as an object of bemusement. Source

NFTs Take Over NYC

On our “Money Reimagined” podcast this week, Sam Ewen, head of CoinDesk Studios, used that religious term to describe how NFT enthusiasts share introductions, ideas, concepts and NFTs themselves, all of which are helping to grow the space at a rapid clip. It’s not purely altruistic because there are real tangible network effects that come from wider adoption, which boosts the value of the assets in question. But there’s also little doubt that the NFT community is truly passionate about this industry and that passion is a driver of its…

S2F Model Creator Hypes Up $10K Daily Bitcoin Candles

A massive battle has been taking place as Bitcoin moves sideways in the past day. The benchmark cryptocurrency trades at $60,938 as of press time with a 1.2% profit in the 7-day chart. BTC with small gains in the weekly chart. Source: BTCUSD Tradingview Bitcoin was rejected at the high of its current level driven by a surge in institutional demand. The launch of the first BTC-linked ETF in the U.S. seems to be a potential cause for the rally. Related Reading | Data Shows Whales Are Dumping, But Bitcoin…

Data Shows Whales Are Dumping, But Bitcoin Holds Above $60k

On-chain data shows Bitcoin whales are dumping as they make up almost 90% of the transactions to exchanges, but BTC holds support above $60k. Bitcoin Exchange Whale Ratio Says Nearly 90% Of Transactions Are From Whales As pointed out by a CryptoQuant post, BTC has continued to hold support above $60k despite on-chain data showing whales are dumping their coins. The indicator of relevance here is the “exchange whale ratio.” This metric measures the ratio between the top ten inflow transactions to exchanges and the total volume of Bitcoin moving…

Value Locked in DeFi Surges. So Do the Exploits

DeFi developers will undoubtedly learn from their mistakes and the industry will naturally become safer over time. However, the Aave vulnerability showed investors that no protocol is 100% safe. While it may stand against the ethos of DeFi, smart contract insurance and regulation could become key in onboarding the next generation of risk-averse DeFi users. Source