Day: June 24, 2022

Market Wallows In Extreme Fear As Bitcoin Struggles To Hold $20,000

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Bitcoin has been struggling in recent times and even with the recovery, continues to find it hard to hold above the $20,000 level. With the crash has also come a significant decline in investor sentiment which has reached some of its lowest points in recent years. And even with bitcoin finally making the coveted recovery above $20,000, it seems investor sentiment is finding it hard to keep up as it remains firmly in the negative. Market In Extreme Fear According to the Crypto Fear & Greed Index, a tool that…

Axie Infinity to compensate Ronin exploit victims and relaunch bridge

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Sky Mavis, the creator of the play-to-earn game Axie Infinity (AXS), announced that it will reimburse victims of the Ronin bridge hack and reopen the bridge next week. In March, hackers stole more than $620 million in the heist, which included roughly 17,600 Ether (ETH) and 25.5 million USD Coin (USDC) tokens. According to a Bloomberg report on Friday, once the bridge reopens on Tuesday, users will be able to withdraw one ETH for each one they possessed before the attack. In April, Cointelegraph reported that Sky Mavis closed $150…

The Case for Suing Celsius, Terraform Labs

The same group of plaintiffs, which includes pseudonymous Terra victim and researcher Fatman, has said it will also file suit against Terraform Labs, the entity that created a litany of apps – like the lending protocol Anchor – that used the LUNA and UST tokens. That possibility highlights one of the key underlying points in the Terra case: Despite leaning on the rhetoric of “decentralization,” Terra was tightly controlled by a small inner group. That could in and of itself become further grounds for claims of misrepresentation and fraud. Source

Flowdesk Raises $30M to Expand Trading and Market-Making Services

French crypto financial services firm Flowdesk raised $30 million in a Series A funding round that was backed by crypto exchange Coinbase (COIN), crypto wallet firm Ledger, French investment company Eurazeo, Aglaé Ventures, French venture firm ISAI, Speedinvest, Fabric.vc and a handful of angel investors, the company announced Friday. Source

"Most People Have No Idea What Is Coming" — Michael Saylor’s Last WARNING & Bitcoin Crash Reaction

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io “Most People Have No Idea What Is Coming” — Michael Saylor’s Last WARNING & Bitcoin Crash Reaction 🔥 Earn up to $250 in crypto when you signup and start earning passive income with BlockFi! 🔐 What I use to keep my crypto secure! Crypto Markets are getting smashed all across the board, with Bitcoin hitting new lows, falling into the mid 20’000s and Ethereum + many other Altcoins down 35% or more. With investors everywhere beginning to panic, one investor feeling perhaps…

Ethereum price breaks out as ‘bad news is good news’ for stocks

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Ethereum’s native token, Ether (ETH), gained alongside riskier assets as investors assessed weak U.S. economic data and its potential to cool down rate hike fears. Ether mirrors risk-on recovery ETH’s price climbed up to 8.31% on June 24 to $1,225, six days after falling below $880, its lowest level since January 2021. Overall, the upside retracement brought bulls 40% in gains, raising anticipation about an extended recovery in the future while alleviating fears of a “clean fakeout.” For instance, independent market analyst “PostyXBT” projected ETH’s price to close above $1,300…

White hat hacker attempts to recover ‘millions’ in lost Bitcoin, finds only $105

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Joe Grand, a computer engineer and hardware hacker known by many for recovering crypto from hard-to-reach places, spent hours breaking into a phone only to find a fraction of a Bitcoin. In a YouTube video released on Thursday, Grand traveled from Portland to Seattle in an effort to potentially recover “millions of dollars” in Bitcoin (BTC) from a Samsung Galaxy SIII phone owned by Lavar, a local bus operator. Lavar originally purchased the BTC in July 2016 in a “super sketchy” way, paying a person at a cafe and storing…

Time for Crypto to Make Nice With Regulators

But regulators, working off the old pre-crypto playbook for keeping financial entities in line, instinctively want someone or some entity to be held accountable. That means they can end up favoring the formation of centralized, trusted third parties, the very source of risk, corruption, cost and dependency that cryptocurrency developers have historically sought to replace. If that happens, it would set the industry up for the same “too big to fail” problems that led to the Wall Street collapse of 2008. Source